Monday, December 15, 2008
Woman Pleads Guilty To Real Estate Investment Scheme
Cheryl Hernandez Camus pleaded guilty to mail fraud and wire fraud in connection with a real estate investment scheme.
Camus, 36, Concord, California, was indicted by a federal Grand Jury on April 8, 2008. She was charged with five counts of wire fraud and two counts of mail fraud. Under the plea agreement, Camus pled guilty to all counts of the indictment.
In pleading guilty, Camus admitted to devising a short-term money lending investment scheme in which she promised fixed returns and the return of the principle investment within a fixed period of time. Camus admitted making a number of false representations in conjunction with the investment scheme, including:
• The investor’s money would be used to help finance real estate transactions, such as payment of closing costs or down payment;
• The investor’s money would be used to pay medical costs;
• The investor would receive a fixed monthly interest payment on the investment;
• The investor would receive the return of the principle investment amount within a fixed period of time;
• The loans would involve “really no risk.”
• Camus screened the borrowers to ensure that money was only lent to borrowers who had the ability to repay;
• Camus had been conducting similar transactions for three years and the returns had been “awesome.”
• Camus would personally guarantee the investment;
• The investment would be secured by a legitimate deed of trust.
Camus used the money she obtained from investors for personal expenses and to pay back earlier investors. As a result of this fraud scheme, Camus obtained $1,760,200 from more than 50 victims. As part of the plea agreement, Camus agreed to pay restitution to victims as ordered by the Court.
mortgage fraud
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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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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 
