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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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Tuesday, June 26, 2007
Florida Man Indicted for Fraud
George M. Riley Sr., 43, Tampa Springs, Florida, formerly Hebron, Connecticut, was indicted on 14 felonies in Licking County Common Pleas Court, including robbery, theft, fraud and engaging in a pattern of corrupt activity charges. According to media reports, he also is under indictment on other charges in Franklin County, Florida and Colorado. Riley allegedly misappropriated investment money, provided false information on a mortgage loan application, and obtained loans under false pretense. It is alleged that Riley misrepresented facts to procure a mortgage loan for a residence located at 300 Johnet Drive, St. Clairsville, and the sale and financing of a 2002 Dodge Ram from A&B Auto Sales, Bellaire, to the same woman. According to media reports, Riley owned or was involved with several businesses in Hebron: American Aggregate Corp. USA, MC Riley Properties, United Waste, MCS Co. Inc., Ireland Equipment Co. and Eagle Industries. Riley misappropriated $500,000 given to him as an investment in a company by a couple. Riley also stole more than $100,000 from Manhattan Mortgage Co., and fraudulently obtained a loan for more than $100,000 from Commodore Bank.
 mortgage fraud
A man by the name of R Foy Phillips fraudulently obtained my mother’s (Della Kelly) land, yet I never discovered whether he did prison time or had to pay restitution for it. My mother owned land at 6315 Theall Road, Houston, TX. He was supposed to be pay her approx. $1000.00 per month to her, along with royalty. R Foy Phillips and his company purchased the land from her at $177,000. When it was time to sign the contract, which was a huge stack of documents, and in which my mother did not realize she needed an attorney for this transaction, he had slid a special warranty deed or a quit claim deed within the paperwork and had used the sign here stickers so she would know where to sign. Being that the stack was so large, she signed everywhere there was a sign here sticker. Unfortunately, not knowing, she had just signed away her land. He paid her the $1000 per month for a year, re-sold the 6315 Theall land (2.5 acres) to someone else and then filed bankruptcy so he could not be touched. How about that? My mother had this land for many, many years, only to be swindled out of it. He not only did this thing to her, he did it to several of our neighbors.
Posted by on 06/26 at 09:11 AM It amazing that there are so many cases exactly like this. You would think that people would get the hint that crime doesn’t pay.
Posted by on 06/26 at 11:35 AM I see an awful lot of help and assistance for lenders and brokers but what about the folks who were misled by unscrupulous brokers with these adjustable Mtges? My own personal situation is such that I suspect is indicative of many people now in trouble! We were told that our 1/7/10 ARM was unmodifiable (ie payments fixed at various amounts for the first, and second through seventh years. Nothing was mentioned about negative amortization, or the consequences of its 110% Cap. Indeed we were assured that there were non. I read the mortgage statements each month and sure enough the first few did not change and seemed to verify the statements of the broker. Now a year later I find that the unpaid balance (Negative Am) is around 20,000 and I am forced to pay the lender (though I’m tempted to use the word robbers)a pre payment penalty on top. All in all, with payments (we always paid More than just interest) and the prepayment we will have handed over to the lender 56,000 plus! Thats a whopping 14% return on their investment! All at my expense! And these people are a large Corporate Bank that espouses family help! I think not!
When are the powers that be going to go after the enablers of this crises namely the Brokers and the Lenders!!!!
Posted by on 06/26 at 12:23 PM Doesn’t anyone read any documents before they sign them? Come on people stop with the blame game! Read the note, know the adjustments and periods...its all right there at signing. Did you shop for your house in 30 minutes? Then why not take your time closing? READ IT!! If it stinks don’t sign it. Plain and simple. Here’s your sign…
Posted by on 06/27 at 07:55 PM In my mother’s case, the Della Kelly one, who is in charge of policing this system? Most states have a real estate board in place for transactions, in which all transactions must be entered into escrow. The board has the right at anytime and audit transactions. Is there a State of Texas Real Estate Board that polices these transactions? I assume the consumer just has no protection whatsoever. The laws are in place, but they are not being inforced, that’s the way I look at it. At the time my mother’s transaction was going on, she did not have money for an attorney, which obviously was right up R. Foy Phillips’ alley.
Posted by on 10/18 at 01:46 PM This man stole from us too! We are a small mobile communications company in Tampa, FL. We sold him equipment and services totally approximately $1400.00. I ran accross this article in hopes of trying to find him to collect the money. Not only is he fraudulent, but mean. He sent the us on wild goose chaises in order to meet him to collect the money due to us. I don’t understand how people can do things like this. So he was not going after only large companies, but small companies where $1400 could be a potential hardship. My hope is someday he will wise up and grow a conscious.
Posted by on 11/12 at 08:00 AM More info on R. Foy Phillips aka Phillips Energy RI or Phillips 292. Just want folks to be aware of what he is capable of so that you or company do not end up in the same predicament my family ended up in. Please note anything that has Independence Grove on it re Phillips............well, they were swindled too....out of their land and after one year of payments.........stopped paying for the land. Wendi, I’m sorry to hear that he got you and your company for $1,400.00 too. Obviously, he must be going for smaller money these days. In the land transactions he was smart, he mainly turned around and sold them to others, banks, companies, people and kept a couple of pieces for himself....I learned this my looking at the Harris County, TX website. www.cclerk.hctx.net/coolice/default.asp?Category=RealProperty&Service=rp_inquiry
You can check it by typing in his name (R. Foy Phillips) or his company (Phillips Energy RI) (Phillips 292) as the grantee or grantor.
Note I couldn’t put all of my neighbors in here that he committed fraud against because it would only take so many characters........but if you go the Harris County, TX circuit clerks office you can type in the grantor or grantee info and be amazed, as I was. Below are a few of our neighbors in Houston, TX he took advantage of. But if you go the the website above and type in Phillips Energy, who knows who else on the list he committed fraud against. Note I believe in God and pray that he gets everything that is coming to him for being an unfair business person/company.
File No: H859811 Grantee:PHILLIPS ENERGY RI Grantor:KELLY DELLA L ETAL
FC: 040991680 Date:19830317 Type:W/D Desc:INDEPENDENCE GROVE Section: Lot:L0002 Block:B0006 Misc:PT/LT Vol-Page:
File No: H859811 Grantee:PHILLIPS ENERGY RI Grantor:KELLY LOUIS WESLEY ETAL
FC: 040991680 Date:19830317 Type:W/D Desc:INDEPENDENCE GROVE Section: Lot:L0002 Block:B0006 Misc:PT/LT Vol-Page:
File No: H859816 Grantee:PHILLIPS ENERGY RI Grantor:BROWN HAZEL A EST ETAL
FC: 040991734 Date:19830317 Type:W/D Desc:INDEPENDENCE GROVE Section: Lot:L0002 Block:B0006 Misc:PT/LT Vol-Page:
File No: H859816 Grantee:PHILLIPS ENERGY RI Grantor:BYARS MORRIS H JR ETAL
FC: 040991734 Date:19830317 Type:W/D Desc:INDEPENDENCE GROVE Section: Lot:L0002 Block:B0006 Misc:PT/LT Vol-Page:
File No: J027118 Grantee:PHILLIPS ENERGY RI Grantor:THEALL MAMIE
FC: 051932522 Date:19830705 Type:W/D Desc:WC RR Section: Lot:A0932 Block: Misc:1.905 Vol-Page:
File No: J928275 Grantee:PHILLIPS ENERGY RI Grantor:BURROUGHS BYRON
FC: 009621760 Date:19850308 Type:REL Desc:INDEPENDENCE GROVE Section: Lot:L0004 Block:B0005 Misc:PT/LT Vol-Page:
File No: K079320 Grantee:PHILLIPS ENERGY RI Grantor:WHARTON TURF GRASS INC
FC: 018701651 Date:19850625 Type:REL Desc:INDEPENDENCE GROVE Section: Lot:L0004 Block:B0005 Misc: Vol-Page:
File No: H938127 Grantee:PHILLIPS ENERGY RI ETAL Grantor:THEALL ELVIE LEE ETAL
FC: 045990684 Date:19830510 Type:W/D Desc:WC RR Section: Lot:A0932 Block: Misc:4.994 Vol-Page:
File No: H938127 Grantee:PHILLIPS ENERGY RI ETAL Grantor:THEALL JOHN WILLIE JR ETAL
FC: 045990684 Date:19830510 Type:W/D Desc:WC RR Section: Lot:A0932 Block: Misc:4.994 Vol-Page:
Posted by on 11/28 at 01:32 PM I spoke with Wendi, and she states that her article refers to the Riley character. I thought she was referring to R. Foy Phillips. But yet again, R. Foy Phillips did a lot of moving around of properties in different entities. Phillips 292 LTD, Phillips Energy RI, Phillips Energy R, R Foy Phillips...........one entity purchases and then it is granted into another one of his entities and then back in his name, etc. I smell a rat big time! Wendi, I wish you well with your company and may you re-cop everything your company lost two-fold.
Posted by on 11/28 at 02:16 PM Riley stote $50,000 from me too. We discussed and made a deal on an investment in rock crushing equipment. I even signed papers. I never saw a cent back. Then he left town, and left me hanging. I hope he gets everything he’s got coming to him, like life in prison. He’s a thief.
Posted by on 09/08 at 07:50 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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