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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8 Defendants Charged in $8.5 Million Dollar Mortgage Fraud Ring
Rony Alberto Aguilar-Hecker, 33, Miami, Florida; Reinaldo Perez-Sanchez, 44, Miami and Colombia; Pablo Atouro Aponte-Torres, 44, San Juan, Puerto Rico; Fabio Salazar, 54, Miami and Colombia; Roger Omar Nunez-Murillo, 60, Miami Beach; Idalmis C. Arias, 27, Miami Beach; Ericson Perez, 42, Cumming, Georgia; and Juan Carlos Lopez, 42, Miami, have been charged for their roles in a mortgage fraud scheme.
According to a fifteen count indictment returned by a federal grand jury sitting in West Palm Beach, the above eight individuals were involved in making false statements to banks to obtain mortgage money to purchase five pieces of property in the Versailles subdivision of Wellington, Florida, between January 2007 and October 2007. The defendants include licensed mortgage brokers, title agents, and straw buyers.
The indictment and informations allege that the defendants and straw buyers engaged in a scheme which resulted in property being sold twice in one day and nearly doubling the value of that property during that one day. The defendants found property which was ostensibly sold to a straw buyer at the price listed to the public for sale through the Multiple Listing Service (MLS). These straw buyers brought no money to the closings, became the owners of the properties for less than 24 hours after which they transferred the titles to second purchasers. For these efforts the straw buyers were paid approximately $10,000.
A second closing occurred in each instance and the properties were "sold" by the straw buyers to the second purchaser for values which increase the properties prices by as much as 60%. The second purchasers obtained mortgages by making false claims as to their income, assets and liabilities on applications to obtain mortgage money from Washington Mutual Bank and that money was used, in part, to pay off the original sellers of the properties. At the conclusion of these second sales, the second purchasers were paid as much as $437,000 from the mortgage money for their efforts and some of the defendants received as much as $155,000 for each property involved.
Mortgage payments on the properties in this scheme were made for less than a year to Washington Mutual Bank and in some instances were abandoned, which caused the bank to move to foreclose on the property and take ownership of the homes. The result was that the bank lost much of the mortgage money by the actions of these defendants. A total of more than $8.5 million in mortgage money was obtained from Washington Mutual Bank through this conspiracy and scheme to defraud.
Jeffrey H. Sloman, Acting United States Attorney for the Southern District of Florida, John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, Michael K. Fithen, Special Agent in Charge, U.S. Secret Service, and J. Thomas Cardwell, Commissioner, State of Florida's Office of Financial Regulations, announced the fraud charges.
"Through hard work and coordination with our law enforcement partners, the United States Attorney's Office will continue to prosecute those who commit bank and mortgage fraud," said Jeffrey H. Sloman, Acting United States Attorney for the Southern District of Florida.
Mr. Sloman commended the investigative efforts of the FBI, Secret Service and the State of Florida's Office of Financial Regulation. The cases are being prosecuted by Assistant United States Attorneys Ellen Cohen and Carolyn Bell.
Charges in a Complaint, Indictment or Information are merely accusations and a defendant is presumed innocent unless and until proven guilty.
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...
Legal Disclaimer.
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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