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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Samir Nel Cabrera, 31, Fort Meyers, Florida, was arrested and the Indictment charging him with Wire Fraud was unsealed.
The Indictment charges that Cabrera devised a scheme to defraud, to obtain money, and to deprive persons and entities of the intangible right of honest services. The Indictment charges that the defendant perpetrated an investment fraud involving undisclosed transfers, or flips, of real property and same-day closings. A Florida limited liability company controlled by Samir Cabrera, STR & Associates, LLC, purchased two parcels of undeveloped real property and then flipped the properties on the same days to real estate investment limited liability companies controlled by Cabrera and funded by investors. The flipped properties were: 13701 Fiddlesticks Blvd, Fort Meyers, Florida and 13800 Fiddlesticks Blvd, Fort Meyers, Florida. The LLC’s involved were: Samir Cabrera, 13701 Fiddlesticks Blvd, LLC, and Samir Cabrera, 13800 Fiddlesticks Blvd, LLC. According to the Indictment, gains created by the flips were $900,000 and $1.9 million, almost all of which Cabrera misappropriated from the investment funds of investors in these real estate investment limited liability companies.
The Indictment charges that Cabrera converted these funds to his own use and the use of others. The Indictment also charges that Cabrera embezzled additional funds from one of the companies in the amount of $20,100.00. He is charged with executing the scheme to defraud by causing persons or entities to send wire transfers of money to a Fort Myers bank account under his control.
If convicted, he faces a maximum term of imprisonment of 20 years, a maximum fine of $250,000, a term of supervised release of 3 years on each of four counts. He would also be ordered to pay restitution to victims of the offenses and forfeit any property constituting or derived from proceeds obtained as a result of the offense.
An Indictment is merely a formal charge that a defendant has committed a violation of the federal criminal laws, and every defendant is presumed innocent until, and unless, proven guilty.
The case was investigated by Special Agents of the Federal Bureau of Investigation and Internal Revenue Service. The case will be prosecuted by Assistant United States Attorneys Jeffrey F. Michelland and Robert P. Barclift.
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.
Defaulted Loans May Haunt Seniors On Line WSJ.Com
A little-noticed law could soon result in smaller Social Security checks for hundreds of thousands of the elderly and disabled who owe the U.S. money from defaulted loans and other debts more than a decade old.
Oregon to Help Homeowners Prevent Foreclosures CBS State
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.
Couple Loses $850,000 in Alleged Ponzi Scheme Boston Herald
Al and Susan McIlvene of Kittery Point, Maine, can remember the exact moment in November when they realized they might lose their entire life savings of $850,000, reports the Portsmouth Herald.
Mortgage Fraud Charges Filed Against Former Bakersfield Realtor, Her father KGET.Com
A former Bakersfield real estate agent and her father face 15 felony counts each of money laundering, conspiracy and grand theft in connection with an alleged multi-million dollar mortgage fraud scheme, newly filed court charges show.
Witness: Mortgage Name Not the Same Clarion Ledger
A former Clinton homeowner was called to testify Wednesday as prosecutors to try to prove a Ridgeland-based mortgage broker and two associates were behind a $9 million mortgage fraud scheme.
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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