Monday, June 04, 2007
Florida Attorney Disbarred for Mortgage Fraud
Manuel Arvesu, closing attorney, consented to his Disbarment for commingling funds and failing to satisfy liens in a property sale transaction. According to the Report of the Referee, admitted the following:
Arvesu served as the attorney for the buyer and Florida Title and Escrow Fund, which was the closing agent in a real estate transaction involving Buyer, Sidonia View Holdings, LLC and Seller, Michael A. Aliberti. The Settlement Statement reflected that a Wells Fargo mortgage in the amount of $64,235.46 would be paid off from the proceeds due Aliberti. The mortgage was not immediately paid off after closing; Arvesu proceeded to make monthly mortgage payments for the months of January 2004 through July 2004. Thereafter, mortgage payments were made by Sidonia View Holdings, LLC.
Aliberti never agreed to the assumption of said mortgage and sold the property ‘as is’ subject to all liens, encumbrances and defects. At closing, Seller’s proceeds were calculated by reducing from Seller’s proceeds an amount equal to payoff Aliberti‘s mortgage, yet said payoff did not occur until twenty-one months thereafter.
The Staff Auditor of The Florida Bar conducted an audit of Arvesu’s trust accounts and determined that there were large shortages between December 31, 2003 and June 30, 2005. The Auditor found that the attorney may have commingled personal and operating funds with trust account funds. When Arvesu was asked to provide supporting documentation to address said transactions, as required by Rule 5-1.2(b)(4), he was unable to do so.
Finally, the audit of said trust accounts as noted above, revealed that Arvesu distributed client funds prior to them being collected in violation of Rule 5-1.1(j), maintained client ledgers that did not meet the requirements of Rule 5-1.2(b)(6), and that three of Arvesu‘s trust accounts were not enrolled in the Interest on Trust Accounts (IOTA) Program as required by Rule 5-1.1(g)(2).
For the purposes of this consent judgment only, Arvesu admits to violation of Rules 3-4.3 (Misconduct and Minor Misconduct), 4-8.4(c) (A lawyer shall not engage in conduct involving dishonesty, fraud, deceit, or misrepresentation…), 5-1.1 (Trust Accounts) and 5-1.2 (Trust Accounting Records and Procedures) of the Rules Regulating The Florida Bar.
-Arvesu spelling correction-
mortgage fraud
thank you for reporting the disbarment of Manuel Arvesu but please correct the spelling of his last name which the article has as “Arveso”
Posted by on 06/10 at 10:11 AM
I have been the victim of predatory lending, and all involved have been found to violate State and Federal laws. The broker got a kick-back (YSP) and changed the terms and rate without notifying us; the appraisal was inflated by approx. $25,000. and the lender did not disclose that I was in fact paying the YSP; they understated my finance charge by $109,000. and committed over 45 TILA violations. I’m a Paralegal and the broker was referred by an attorney I used to work for, yet, that did not matter I was caught in the “perfect storm” which is drowning our country now. My husband and I are suing for fraud, unfair deceptive trade practices and we will go for the jugular on this case.
Posted by on 11/09 at 03:45 PM
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Mortgage Fraud Risk Index Jumps 11 Percent, According to Verisk Analytics Subsidiary Interthinx
CNNMoney.com
The report...indicates that the overall Interthinx Mortgage Fraud Risk Index surged more than 11 percent from the previous quarter...
Mortgage Fraud Case Appears Headed to Jury in Jackson County Circuit Court
The Jackson Citizen Patriot - MLive.com
The prosecution and defense rested Thursday in the mortgage fraud cases against Teresa Marie WIlson and Angelo Surveo Williams.
Wyoming Woman Charged with Mortgage Fraud After Allegedly Stealing Sister's Identity
MLive.com
A Wyoming woman is facing felony charges accusing her of stealing her sister's identity to obtain a mortgage...then defaulting on that mortgage, leaving taxpayers on the hook.
U.S. Attorney Targets White-Collar Crime
Wall Street Journal
In San Francisco, Mr. Russoniello said he is trying to crack down on cases like mortgage fraud, though he doesn't have the budget to hire additional white-collar prosecutors.
Arrests Made in Orlando Mortgage Fraud Roundup
MyFoxOrlando.com
During the real estate boom two years ago, some units were going for a half million dollars. Now some are short selling for just 50 grand.
10 Accused of Mortgage Fraud at PR Coastal Resort
Forbes
A developer and nine other people, including a former salsa singer, have been charged in an alleged $14 million mortgage fraud in Puerto Rico...
Strodtman Jury Selected in Mortgage Fraud Trial
Greeley Tribune
Attorneys will deliver opening statements this morning in the trial of Mark Strodtman, who is accused of bilking homeowners in a mortgage scheme years ago.
FHA Digging Out After Loans Sour
Wall Street Journal
Most banks rejected Ms. DeForte because her debt level was too high and her credit score too low. But Lend America put Ms. DeForte into a $402,000 loan backed by the Federal Housing Administration...
Mortgage Fraud Probe Nets 105 Across State
Bradenton Herald
At least one local man is among 105 people arrested across the state following a nine-month investigation into organized mortgage fraud.
Mortgage Fraud Increases
MortgageRates.co.nz
The number of frauds involving professional advisors, such as accountants and lawyers, has increased from two to four since March 2008.
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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.
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