imageRachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar

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Recent Posts

- Mortgage Fraud Scheme Leads to 83 Count Indictment
- Beazer Homes Settles Accusations of Mortgage and Accounting Fraud
- Closing Agent Indicted for Misappropriating Funds
- Falsified Loan Apps Lead to Criminal Charges
- 4 Indicted For Using Stolen Identities to Obtain Loans
- New Jersey Man Indicted for Mortgage Loan Misreps
- Florida Man Sentenced for Role in $30 Million Mortgage Fraud Scheme
- Ohio Man Charged in Straw Borrower Scam
- Loan Mod Company Ordered to Cease & Desist
- Former Mortgage Broker Pleads Guilty in $1.6 Million Mortgage Fraud Scheme

Friday, May 26, 2006

Tax Preparer Gets Two Years in Mortgage Fraud

Holly R. Coleman, Mayfield Heights, Ohio, was sentenced to 24 months imprisonment, followed by three years of supervised release based on her guilty pleas to a three-count information charging her with aiding and assisting the preparation of false income tax returns for clients of her former tax business, making false claims for income tax refunds in her own name, and mail fraud involving a fraudulent mortgage loan application. Coleman was ordered to pay restitution of $3,896 to the Internal Revenue Service and $17,453.89 to National City Home Loan Services, Inc. Coleman was ordered to self-report to prison and remains on bond.

Coleman pleaded guilty to the charges on February 21, 2006, pursuant to a written plea agreement, in which she admitted to the criminal conduct described below. According to the plea agreement, during times relevant to the charges, Coleman was self-employed as an accountant and tax return preparer, doing business as The Coleman Company and/or Tax Specialists.

As charged in Count 1, from approximately January 1, 2001, through April 15, 2002, Coleman prepared 56 federal income tax returns for 41 tax clients, containing false claims for tax refunds based on falsely claimed income tax credits and, in some instances, false deductions. On each charged return, Coleman fabricated a false claim for an education tax credit based on purported educational expenses which the client had not incurred. She also placed other false credits or deductions on certain of the returns. In aggregate, the returns contained false tax credits totaling $77,149 and false deductions totaling $21,532.

As charged in Count 2, Coleman made false claims for tax refunds by filing her own personal income tax returns for the years 2000 and 2001 which contained fictitious W-2 forms reporting fictitious wages and income tax withholdings on which she based the refund claims.

As charged in Count 3, Coleman induced two other persons (referred to as “Relative” and “Friend”), to act as nominees on her behalf to purchase and obtain mortgage financing for a property in South Euclid, Ohio, where Coleman intended to reside as her personal residence. Coleman induced Relative and Friend to prepare and submit a joint loan application to First Franklin Financial Corporation (now National City Home Loan Services, Inc.), knowing that the application documents contained false representations that Relative and Friend would occupy the premises as their principal residence, and that Friend had monthly income of approximately $801 from “Tax Specialists & The Coleman Co.” Coleman prepared and provided false and fictitious documents which were presented to First Franklin as part of the loan application, including a fictitious W-2 form and fictitious letters from the applicants’ purported landlords.

   

Posted by Rachel Dollar on 05/26/06 at 06:21 AM
Mortgage FraudOhio • Total comments: (1) (0) Trackbacks
  1. Thanks for your blog. I plan on having your insight available to my readers. I saw as mortgage company owner that a few will take chances, just to have a home or make a commission. This posting is an example I had to watch for closely.

    Posted by Larry Cragun  on  06/01  at  10:48 AM

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mortgage fraud news



Today's News

Some Sources require Registration.

 

Erie Area Mortgage Broker Gets Prison in Fraud Case
GoErie.com - Erie, PA
Shortly before receiving a nearly three-year federal prison sentence, former mortgage office manager Francis R. Conti told the judge he never meant to defraud any of the homeowners caught up in a widespread local mortgage-fraud scheme.

Three Former Portland-Area Mortgage Brokers Face Fraud Charges
OregonLive.com - Portland, OR
Joel D. Surprenant, Michael Duc Han and Benjamin Lucian Lucescu all were charged with one count of obtaining mortgage loans through materially false and fraudulent pretenses.

Shaker Pair Pleads Guilty to Mortgage Fraud Charges
Cleveland.com - Cleveland, OH
Two Shaker Heights residents recently pleaded guilty to charges involving a mortgage scheme with seven area houses and $3 million in fraudulent loans.

Feds File Charges in Five Mortgage Fraud Cases
Chicago Breaking News - Tribune - Chicago, IL
Federal charges were filed today against 37 people and four companies in five separate mortgage fraud cases.

Feds Fighting Back
Contra Costa Times - Walnut Creek, CA
Mortgage fraud has increased so dramatically in the San Joaquin Valley that a task force of federal, state and local agencies has been formed to fight back.

Private Investigator Sees Rise in Mortgage Fraud Due to Economy
PR Web - Ferndale, WA
In the past 12 months his firm has been retained to conduct over 300 mortgage fraud investigations, a 100% increase from 2007.

Former UGA, NFL Football Player Arthur Marshall Charged With Mortgage Fraud Claims
WJBF-TV - Augusta, GA
He is also accused of defrauding three banks in obtaining loans for seven different properties in Columbia and Richmond Counties.

Cuomo Subpoenas Loan Modification Companies
New York Times - United States
“The entire industry is a scam, in my opinion,” Mr. Cuomo said Tuesday. “These are services that homeowners don’t need to pay for in the first place.”

Defendant Pleads Guilty to Wire Fraud Relating to Mortgage Fraud Scheme
Imperial Valley News - Holtville, CA
Scavitti admitted that between 2003 and August 2008 he unlawfully diverted mortgage funds that were wire transferred into his client office account to his own personal benefit, resulting in losses in excess of $2.5 million.

Fed Drug Report: Double Trouble for Metro Chicago
ABC7Chicago.com - IL
...Chicago street gang members run a network of legitimate businesses and have engineered mortgage fraud schemes, both to launder drug proceeds...

Previous Articles

TRIAL COVERAGE

Trial coverage provided by Anne Mitchell, Crazy Fish Realty.

Update - US v. F. Jeffrey Miller, et al.

Miller II: Judge Julie Robinson has ruled in favor of the defense motion granting a continuance for sentencing of the 3 convicted defendants: F. Jeffrey Miller, Steve Vanatta and Hallie Irvin. The three will now be sentenced after ruling on post trial motions set for August 10, 2009.

Vanatta has been in custody for over 2 years.  Vanetta filed a motion for his release pending sentencing. That motion was denied.

Miller remains free pending his sentencing. He has hired a new attorney who filed a motion to delay Miller's sentencing. In one post trial motion, the defense argues as to what assets are subject to seizure.

Defendant Todd Earnshaw is a Kansas City real estate Broker (and brother in law of Miller). Earnshaw has been indicted in what is commonly referred to as Miller I. A trial date for that matter has been set for January, 2010 in Topeka, Kansas.

The Government filed a motion to revoke Earnshaw's bond and remand him to custody while he awaits trial after learning that he allegedly committed the state crimes of Driving Under the Influence, Handicap Parking Violation and Failure to Control Speed to Avoid a Collision while on pretrial release. Notwithstanding finding that probable cause existed to believe that Earnshaw committed the aforementioned state crimes, Judge Robinson denied the motion, but ordered several strict conditions that Earnshaw must follow pending his trial.



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© Copyright 2004-2007 Rachel M. Dollar

Legal Disclaimer.
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.

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