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Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.
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 Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of Smith Dollar, PC, is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
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Friday, September 22, 2006
Convicted Felon and Stolen Appraiser ID = Mortgage Fraud in Portland
A Portland grand jury returned a 21-count indictment charging Ryan Bonneau, 30, Portland, Oregon, Troy Martin, 40, real estate sales agent, Portland, Oregon and Leanne Booth, 48, real estate loan broker, Portland Oregon with Wire Fraud, False Statements to a Federally Insured Bank, Money Laundering, and Engaging in Prohibited Financial Transactions. In addition, Bonneau is charged with Aggravated Identity Theft, and Martin is charged with Tampering with a Witness. The charges arise from allegations that the defendants engaged in a scheme to defraud the Union Federal Bank of Indianapolis (UFB) in connection with the mortgage financing of the sale of two residential properties located in northeast Portland, Oregon. During the time he allegedly engaged in the conduct charged in the indictment, Bonneau was on federal supervised release following a prior conviction. One of the conditions of that release, according to the indictmetn, was that he report his participation in certain types of financial transactions, including the purchase of real estate, to a probation officer. The indictment alleges that in each of the sales, certain defendants made false representations to UFB in order to induce UFB to approve mortgage loans and wire transfer funds to title companies in the Portland area. It is further alleged that defendant Bonneau caused the submission of false and inflated appraisals to UFB in support of the mortgage applications on two properties, and when he submitted the appraisals, Bonneau caused the use of an appraiser’s name and license without the authority of the appraiser. The alleged unauthorized use of the appraiser’s name and license by Bonneau is charged as Aggravated Identity Theft. Further, the indictment charges Money Laundering and Engaging in Prohibited Monetary Transactions in connection with the disbursements of mortgage proceeds received by the defendants from UFB, and alleges that Martin corruptly attempted to induce a title company employee not to provide certain information to investigators. The properties are identified in the indictment as 13515 NE Marine Drive, Portland, Oregon and 13531 Marine Drive, Portland, Oregon.
 mortgage fraud
What ever became of the case against Troy Martin and Leanne Booth. They are alegedly still conducting business in the Metro area.
Posted by on 01/23 at 11:26 AM Which companies is each of them employed with?
Posted by on 01/24 at 05:30 PM I know of a multiple felon that was issued a real estate license in Nevada. One of the convictions was grand theft. He is now under investigation for fraud. How can this happen? Why does Nevada grant RE licenses to felons, especially those convicted of grand theft? Would you be comfortable having a convicted felon have a RE key to your home? I wouldn’t!!
Posted by on 01/26 at 04:53 PM Let’s call this an update from inside! I have personally seen Leanne Booths Federal Dismissal. As of March 2008 she has been dropped of all charges and has a CLEAR record. An indictment is an official way of saying someone is being investigated! After a long investigation, it has been concluded that she was innocent. As the SELLER of the house and having nothing to do with the loan, I would have hoped so! Congratulations Leanne! Stay Busy!
Posted by on 03/24 at 11:50 AM wow. Ryan was the only one who did anything and leanne and troy were innocent bystanders brought down by ryan.
Posted by on 03/25 at 06:55 PM this was found on the IRS website…
www.irs.gov/compliance/enforcement/article/0,,id=174633,00.html
Mortgage Fraud Defendant Sentenced to 30 Months in Prison
On April 8, 2008, in Portland, Ore., Ryan Bonneau was sentenced to 30 months in prison, to be followed by five years of supervised release for his role in a mortgage fraud scheme involving two residential real estate transactions in 2004. Bonneau was indicted in 2006 along with Leann Booth, a Portland real estate loan broker, and Troy Martin, a Portland real estate sales agent, on charges including wire fraud, false statements to a Federally Insured Bank, money laundering, and engaging in prohibited financial transactions. In his guilty plea filed in November 2007, Bonneau admitted that he, along with Booth and Martin, devised a scheme to defraud the Union Federal Bank of Indianapolis by making false statements in mortgage loan applications in connection with transactions involving two properties, one co-owned by Booth and Martin and one in which Martin was part owner. In each transaction, the sales price of the home was inflated so that Bonneau could apply for a larger mortgage and divert the extra cash to bank accounts he controlled. Bonneau also admitted to submitting a false appraisal on each property. At the closing of the property transactions, false closing statements were signed which concealed the fact that the extra cash was being diverted. The bank funded the mortgage loans in reliance on these statements. Leann Booth admitted that she participated in this scheme with respect to one of the properties. She is serving an 18 month period of Pretrial Diversion and has forfeited $38,187, her share of the profit from the property transaction to the government. She also must serve a period of 45 days house arrest, perform 200 hours of community service, prepare a written report and make presentations of one hour or more on the subject of detection and prevention of mortgage fraud to professional organizations. If she successfully completes the diversion program she will not be prosecuted on any charges. Troy Martin has also admitted his participation in this scheme with respect to both properties. He is serving an 18 month period of Pretrial Diversion and has forfeited $63,187, his share of the profit from the property transactions to the government. He will also serve a period of 45 days house arrest, perform 200 hours of community service, prepare a written report and make presentations of one hour or more on the subject of detection and prevention of mortgage fraud to professional organizations. If he successfully completes the diversion program he will not be prosecuted on any charges.
Posted by on 05/20 at 12:46 PM MY NAME IS LYNDA FLOYD AND I LOVE DESSERTS (CAKES & PIES)
Posted by on 10/20 at 02:32 PM it
Posted by on 11/03 at 11:31 AM
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Some Sources require Registration.
Mortgage Scam Ends with Prison
The Morning Call
A judge didn't hold back when Shirley Matthews appeared before him Tuesday to be sentenced for stealing from a Monroe County man instead of helping him save his home from foreclosure, as she was hired to do.
Woman Gets Prison Time After Mortgage Scam Conviction
Pocono Record
A New Jersey woman will be spending two to five years in state prison after she was sentenced on Tuesday for promising to help homeowners avoid foreclosure and then keeping the money she was given for their mortgages.
2 Indicted in Mortgage Scam Face New Charges
Newsday.Com
Prosecutors add extra charges to two who are charged in LI mortgage fraud with county legislator, dominatrix and her husband
Untangling Mortgage Fraud in Chicago Condo Buildings
Chicago Public Radio
Why did so many units go into foreclosure all at once? In some cases, the reason can be traced to mortgage fraud.
No Contest Plea Entered in Real Estate Fraud Case
Northbay Business Journal
Juan Carlos Alcala of Windsor pleaded no contest to nineteen felony counts and admitted three special allegations for defrauding real estate investors, money laundering and elder fraud.
Bedford Woman Sentenced to a Year in Prison for Mortgage Fraud
Plain Dealer
Sharon Cox, 49, of Bedford, was sentenced today to a year in prison for mortgage fraud involving money laundering, theft and receiving stolen property from August 2008 through March.
CITIZEN JOURNALISM: Mortgage Fraud High in Area
Washington Times
According to the FBI, Virginia, Maryland and the District are among the top 10 jurisdictions experiencing mortgage fraud.
Former Vegas Resident Charged with Mortgage Fraud in Nevada
National Mortgage Professional Magazine
A former Las Vegas resident has been charged with federal conspiracy and fraud charges for his involvement in a Nevada mortgage fraud scheme involving straw buyers and falsified mortgage loan documents...
Missouri Man Sentenced for Mortgage Fraud
Belleville News Democrat
A suburban St. Louis mortgage company operator has been sentenced to more than 11 years in prison for a mortgage fraud scheme.
12-Year Prison Term in Mortgage Swindle
Washington Post
A Maryland woman who stole millions from Washington area homeowners trying to avoid foreclosure is a "vulture" whose case should serve as a warning to other con artists...
Previous Articles
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
More Trial Coverage
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