Mortgage Fraud Blog Conference 2008

Rachel 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

Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.

Dollar in the News

July 13, 2008 - Tampa Tribune
Close Door on Real Estate Fraud

November 27, 2007 - Voice of San Diego
Mortgage Fraud Hits the Courts

November 23, 2007 - You Tube
Rachel Dollar Gives Away Underpants

More Articles

Quick Links

Categories

Monthly Archives

Syndicate

You're welcome to post our feed on your site and provide your readers with the latest Headlines! Just select "Get Widget" below . . .
  

Subscribe in NewsGator Online

What's this?

Recent Posts

- Man Indicted For Abuse of Foreclosure Process
- 2 Indicted In Florida Straw Buyer Scheme
- Man Arrested in Georgia on Real Estate Fraud Charges
- Father, Son, Broker Indicted In Missouri Scam
- Real Estate Loan Officer Pleads Guilty to Mortgage Fraud Scheme
- Connecticut Man Sentenced For Misreps
- Woman Charged In Mortgage Fraud Scheme
- Man Sentenced T 13 Years For Fraudulent Mortgage Rebate-Coupon Conspiracy
- Defendants Sentenced In Louisiana Mortgage Fraud Case
- 2 Indicted In Arizona Mortgage Fraud Scheme

Thursday, June 22, 2006

ID Theft Admits to Using Stolen IDs to Obtain Loans

Eric Bronche Thomas, 42, Gardena, California pleaded guilty to computer intrusion, use of a false identity document and misuse of a social security number.  Thomas is the third member of an identity theft ring that used personal information fraudulently obtained from Experian and other companies to apply for fraudulent loans.

Two other members of the identity theft ring – Calvin Son Guidry, 32, Inglewood, California, and John Wayne Avery, 52, Los Angeles, California – pleaded guilty earlier this year to conspiracy to commit identity theft. Guidry additionally pleaded guilty to the use of a false identity document.

When entering their guilty pleas, Thomas, Guidry, and Avery admitted working together to obtain personal data – including names, dates of birth and social security numbers – and to use that data to fraudulently apply for loans. Thomas admitted to establishing a real estate company and using that company to obtain access to Experian credit reports, from which he harvested personal information from unsuspecting victims. With the personal information, Thomas and Guidry applied for loans from various lending institutions and created counterfeit identity documents. Avery and other members of the ring would then use the identification documents to claim the loan checks.

In addition to the loan fraud scheme, Thomas also admitted to applying for a Best Buy credit card using a false social security number after the loan fraud case had been filed. Thomas has agreed to forfeit several residences that he had purchased using stolen identities.

The government estimates that the actual loss associated with the identity fraud tied to Thomas, Guidry, and Avery is more than $300,000. At least 30 people were victimized.

Sentencing for Thomas is set for August 28, 2006 at which time he faces a maximum possible sentence of 35 years in federal prison. Guidry is scheduled to be sentenced on October 16, 2006 and faces a maximum possible sentence of 20 years in federal prison. Avery is scheduled to be sentenced on November 27, 2006 and faces a maximum sentence of five years in federal prison.

   

Posted by Rachel Dollar on 06/22/06 at 03:05 AM
Mortgage FraudCalifornia • Total comments: (2) (0) Trackbacks
  1. There can be little doubt that there will continue to be a rise in this type of ID theft case.

    While the financial industry as a whole is probably further ahead than most industries (thanks in part to GLB and SOX) there is still a tendency for companies to “spend more on their coffee service” than on information security.

    The type of hole that was left for these three to exploit is a definite red flag for failed or non-existent policies and procedures, not necessarily technology.

    Posted by  on  07/19  at  06:42 AM
  2. Why didn’t I think of that? Steal an identity, issue a big loan and then disappear in the world and never to be heard from again. Simple, huh?

    Posted by  on  05/04  at  09:00 PM

Post a Comment

Name:

Email:

Location:

Smileys

Remember my personal information

Notify me of follow-up comments?

Submit the word you see below:


The trackback URL for this entry is:

Trackbacks:




Advanced Search
Enter your Email


Preview | Powered by FeedBlitz image



ORDER NOW!!


Today's News

Some Sources require Registration.

 

Real Estate Fraud Widespread, Insider Q&A Told
Orange County Register- California
As head of the California Department of Real Estate, it’s Davi’s responsibility to oversee the licensing and regulation of real estate agents and to investigate complaints.

Complaints Against Ohio Real-Estate Agents Rise
Cincinnati.com - Cincinnati, OH
Some of the most common complaints involve buyers upset over undisclosed property problems and agents not doing the marketing they had promised. There's also been an increase in mortgage fraud and criminal allegations.

Millions At Risk Of Foreclosure Fraud
Inland Empire News - Riverside, CA
The reason Carter, 55, is facing eviction, she says, is that she fell for a high-stakes scam that’s sweeping the nation, preying on the 1 in 11 consumers who are either behind on their mortgage payments or already in foreclosure.

Florida Comes Clean, Allowed Criminals to Enter Mortgage Industry, Prey on Consumers
By The Liput Group
In a stinging critique of the state's oversight of the mortgage industry, top Florida investigators found that state regulators failed to alert police agencies to crooked mortgage brokerages, ignored citizen complaints and allowed hundreds of people with criminal histories to peddle loans.

FBI's Mortgage Fraud Caseload Grows To 24
Toronto Star - Ontario, Canada
The FBI is investigating 24 cases of potential corporate fraud related to mortgage lending, up from 21 cases disclosed by the bureau in July, bureau director Robert Mueller told Congress yesterday.

Convicted Appraiser Nicolo Back In Custody
MPNnow.com - Rochester, NY
John Nicolo, who was convicted in a widespread kickback scheme involving Eastman Kodak Co. and a former Monroe County assessor, is back in police custody after he allegedly violated the conditions of his release.

Mortgage Crisis Leads To An Increase In Scams
WSBT-TV - South Bend, IN
When it comes to perpetrating a scam or a fraud some tools used are a gun, or a fist, or a knife,” Zultanski said. “Mortgage is another avenue to commit a fraud.”

Mortgage Firm Countrywide, In Response To Alleged Data Breach, Offers Free Credit Monitoring
Los Angeles Times - CA
Countrywide Financial Corp. is offering two years of free credit monitoring to customers whose sensitive personal information, including Social Security numbers, allegedly was stolen from the home lender's computer files.

Caught in ID Theft's 'Horrible Web'
Columbian - Clark County, Washington
A woman took Carpenter's professional identity as a real estate appraiser, using Carpenter's name and license number. She even appraised commercial and million-dollar properties that Carpenter, a residential appraiser, isn't licensed to do.

Top 10 Riskiest Areas for Mortgage Loans
U.S. News & World Report - Washington, DC
First American CoreLogic recently released a study that ranks America's top 10 riskiest areas in which to make a home loan.

Previous Articles

What's Your Opinion?

Real Estate Blog Top SitesBlog Flux DirectoryBlog Directory & Search engineBlog Directory
Blogarama - The Blog DirectoryListed on BlogShares

© 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.

Real Estate Blog Top Sites Blog Flux Directory Blog Directory & Search engine Blog Directory
Blogarama - The Blog Directory Listed on BlogShares