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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Orson Benn, former vice president of Argent Mortgage Company, one of the nation’s largest subprime lenders, has been convicted by a Polk County, Florida jury for operating a mortgage fraud scheme that spanned more than two years and involved loans in Hillsborough, Lee, Pinellas and Polk counties, Florida. Benn was part of an elaborate mortgage fraud scheme that involved co-defendant Scott Almeida. Benn and his co-defendants were prosecuted by the Attorney General’s Office of Statewide Prosecution.
The three-year investigation began when victims filed complaints about incomplete or substandard construction work being performed by construction companies affiliated with Almeida. Almeida and his associates secured mortgages for homeowners to finance the home repair projects by submitting fraudulent documents to Argent Mortgage Company. Benn, as vice president of Argent, approved or oversaw the approval of the fraudulent loan applications. Investigators followed the trail of fraudulent applications back to the organized criminal operation which submitted nearly 130 loans to Argent that were funded for approximately $13 million.
Argent Mortgage has cooperated with investigators and provided information and documents to support the investigation. The joint investigation was conducted by the Office of Statewide Prosecution, the Florida Department of Law Enforcement (FDLE), the Hillsborough County Consumer Protection Agency, the Tampa Police Department and the Pinellas County Department of Justice.
This is the second mortgage fraud case involving Benn and investigators believe there may be numerous mortgage brokerage companies in Florida with whom Benn perpetrated similar schemes. After the initial investigation of Benn‘s activities, the investigation was expanded to include additional targets that were actively engaged in fraud with Benn, who was charged with racketeering, conspiracy to commit racketeering, mortgage fraud, and grand theft. Benn faces up to 105 years in prison when sentenced at a later date.
Co-defendants Frank Giffone, Samuel Green, Adrienne White and Bradford Peck have all pleaded guilty to similar charges and will be sentenced at a later date. Almeida pleaded guilty in October and will serve 10 years in prison for the crimes he committed.
“This is an excellent resolution to a case that exemplifies just how destructive mortgage fraud can be,” said Attorney General McCollum. “We will continue aggressively prosecuting individuals like Benn, Almeida, and others who attempt to victimize Florida’s homeowners and the mortgage industry.”
Just another mortgage fraud case in Florida. What is it about this state that leads to such a high fraudulent mortgage statistics. I remember reading something the FBI listing Florida as one having one of the highest mortgage fraud rates in the country. The sad things the individual, Benn, who is “facing up to 105 years in prison” most likely will not even serve a fraction of that sentence.
I also remember hearing about a similar case a few years back involving Argent Mortgage. Could anyone provide any information about this? Thank you in advance!
These people never really think about, or care about, the people who are most affected by their schemes. People’s homes are their greatest assets and endangering their homes puts them in a very vulnerable position.
Mortgage fraud, can this ever stop? In 2010 with Obama in office, I think we can see a positive trend towards this being out of the question. Thank god these people end up convicted.
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...
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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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