Mortgage Fraud Blog is the premier website for news and information on mortgage fraud and real estate fraud throughout the United States.
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
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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.
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.
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)
Failed Mortgage Firm Trustee Allowed $50,000 in Fees Union Leader
U.S. Bankruptcy Court Judge J. Michael Deasy will approve $50,000 in legal fees for the trustee of failed mortgage brokerage businesses Financial Resources Mortgage Inc. and CL&M Inc.
Bend Oregon Event to Help Homeowners Prevent Foreclosures Oregon.Gov
As part of an ongoing effort to help homeowners avoid foreclosure, state agencies are organizing a foreclosure-prevention event in Bend on Saturday, March 27, 2010.
Shelbyville Man Gets 2-Year Sentence For Loan Fraud Chattanoogan.Com
Prosecutor Gary Humble said the lost was approximately $2.3 million in the mortgage fraud involving hundreds of homes in the Shelbyville area.
Lend America, VP Ashley Banned from FHA Housing Wire
Michael Ashley, the embattled former vice president of Federal Housing Administration (FHA)-backed mortgage originator Lend America, and the company he worked for, were permanently banned from doing business in the industry last week.
Countrywide Tries to Pin Blame on Insurer Court House News
Countrywide Home Loans demands $111 million from Triad Guaranty Insurance, claiming Triad is trying to blame mortgage lenders for the insurer's role in the housing bubble and collapse.
Investors Say They Were Swindled in Property Scheme Fox 13 Now
Utah Division of Consumer Protection is joining forces with a few investors who claim they have been cheated by an agency called "Utah Mini Ranches.
Greenfield Man Accused of Housing Scam The Republic
A former real estate agent conned at least eight people by renting them properties actually owned by a federal agency and then running off with their deposits, prosecutors said.
Appraisal Institute Opposes Obama Administration's Plan for Homeowner 'Short Sales' PR News Wire
Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers today voiced their opposition to changes to an Obama administration program that will encourage "short sales" of homes.
Ownership Rights to Get Another Look TBO.Com
State lawmakers may beef up protections of property owners' rights by rewriting a law this spring that is at the center of a case of alleged fraud in Pasco County.
Thursday, February 18, 2010 F. Jeffrey Miller Trial Continued Testimony
As reported by Anne Mitchell, who viewed the trial:
Angela Parenza worked for Jeff Miller as the office manager for 7 or 8 years beginning in 1998. Parenza was indicted along with Miller and pled guilty to conspiracy to commit bank fraud and money laundering. Parenza testified that Miller or his contractors allegedly preferred to build all the...
Wednesday, February 10, 2010 F. Jeffrey Miller Trial Coverage Continued - Witness Testimony
Steve Middleton Testimony - Coverage Provided by Anne Mitchell
The Government continued in its cross examination of Steve Middleton. He was shown several HUD-1 statements involving sales of homes located in Overland Park, KS, and Olathe, KS. The HUD statements each allegedly showed line items of payments to (James) Moser & Associates, LLC's...
Monday, February 01, 2010 F. Jeffrey Miller Trial Coverage - Continued Witness Examination
According to Anne Mitchell, who is present in court for the trial:
Next Witness: Kelly Sanford
Kelly Sanford of the Federal Reserve was a short witness for the Government. Sanford manages electronic payments between banks and member financial institutions. He was shown copies of wire transfers and asked whether they coincided with the counts in...
Wednesday, January 27, 2010 F. Jeffrey Miller Trial - Prosecution Witnesses Continued
According to Anne Mitchell, who is viewing the trial:
January 13, 2010
Witness: Rick Hayes
Rick Hayes testified that on the day that he closed on his Miller Enterprise home, he received a phone call from the Kansas Banking Commission informing him that his loan was fraudulent. After the Hayes responded to a classified ad, they met with John...
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The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about mortgage banking, mortgage fraud matters or who believe they require legal counsel should seek the advice of an attorney. The creators, editors and sponsors of Mortgage Fraud Blog do not intend to create a confidential relationship or an attorney-client relationship by communication via or arising from this site.
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 
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