Monday, February 25, 2008
Indiana Man Convicted of Swindling Seniors
Jason Keigley, Indianapolis, Indiana, has been found guilty in Hendricks County Superior Court of swindling money from seniors through a fraudulent investment and mortgage scheme.
Keigley was convicted of the following charges: the offer or sale of an unregistered security, transacting business as an unregistered Broker Dealer, and fraud in connection with the offer or sale of a security, all class C felonies. Keigley was also found guilty of loan broker fraud, a class D felony.
Indiana Secretary of State Todd Rokita and Hendricks County Prosecutor Patricia Baldwin joined forces to file criminal charges and pursue prosecution of Keigley for violations of the Indiana Securities Act and Indiana Loan Broker Act. Charles Williams of Rokita’s Prosecution Assistance Unit and Hendricks County Deputy Prosecutors Rhett Stuard conducted the investigation. Tyler Starkey presented the State’s case at trial. A jury found Keigley guilty on all four counts.
Keigley worked as a loan originator for an Indiana mortgage company in 2004, and during his employment, he also operated his own business, 1st Place Mortgage. The Secretary of State’s office found that Keigley convinced a Hendricks County couple to invest in his company which, unbeknownst to them, was an unregistered security. He also told them their investment was in an interest-bearing account, available to them upon request, while at the same time establishing a reverse mortgage for the couple. Some time after Keigley brokered the reverse mortgage loan and the couple had bought Keigley‘s investment, the couple requested their investment funds and only a small portion was returned.
No account has ever been located and Keigley could not account for any of the missing funds. In addition, the victims were hit with foreclosure on their home as a result of Keigley‘s failure to fulfill the obligations of the reverse mortgage. Investigator Charles Williams was able to save the couple’s home from foreclosure through his investigative efforts.
Sentencing was initially set by the Court for March 17. Keigley faces a maximum sentence of eight to 13 years for all charges.
“Hoosiers simply will not tolerate mortgage fraud in our state,” Rokita said. ”Indiana can reverse the ill effects of mortgage fraud by educating and protecting home buyers from this type of damaging, criminal activity. Every home buyer has a duty to do their homework, and my office provides a variety of valuable investment and mortgage information resources.”
Prosecutor Baldwin agreed with Rokita and echoed his sentiments.
“In Hendricks County, we take it seriously when unscrupulous people attempt to defraud innocent citizens, and we will continue to vigorously prosecute those cases,” Baldwin said.
“Our Securities division is charged with protecting investors,” said Chris Naylor, Indiana’s Securities Commissioner. “We believe a two tiered approach can help prevent future cases of fraud. Educating Hoosiers about prudent investing and mortgage practices coupled with bringing enforcement actions and criminal prosecutions against companies and individuals engaged in fraud are powerful tools to protect our citizens. This will ultimately restore consumer confidence and promote business development.”
The Secretary of State’s Prosecution Assistance Unit (PAU) initiated this investigation and worked with Prosecutor Baldwin to file charges and prosecute Keigley. Rokita created the PAU in 2004 to facilitate local law enforcement’s prosecution of alleged Securities Act and Loan Broker Act violations by creating a stronger partnership between the Statehouse and county courthouses. Since its inception, the PAU has helped law enforcement throughout the state file charges in 27 high-profile investment fraud cases, earning a 26 to 1 conviction-to-dismissal record and obtaining more than 200 years of sentenced jail time for white collar criminals.
mortgage fraud
Nice step. Cheaters like keigley must be awarded same sort of prizes on their acooutn.
Posted by on 02/28 at 03:23 AM
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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...
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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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