Friday, March 09, 2007
Investors, Mortgage Lender, Loan Officer and Escrow Officer Charged In Mortgage Fraud Scheme
Eight defendants were charged in a 17-count indictment including conspiracy charges in conjunction with a mortgage fraud scheme they operated in the Dallas area. Defendants Donald L. Jones, 61, Grapevine, Texas , and Joseph B. Jackson, Sr., 63, Irving, Texas, are also each charged with ten counts of wire fraud and six counts of bank fraud. Jones and Jackson represented themselves as real estate investors who owned and operated Affordable Homebuilders and the YIN Group in Irving, Texas.
Donald Matthew Jones, aka “Mat Jones,” 35, Maui, Hawaii, is also charged with three counts of wire fraud. He was an employee of Affordable Homebuilders and also owned and operated home healthcare centers under the names of Private Home Health Care and Brain and Spinal Cord Injury LLC.
Daniel J. Sattizahn, 29, Plano, Texas, is also charged with three counts of wire fraud. He was a co-owner and operator of First Capital Investments. Robert Patterson, Jr., 55, Dallas, was a loan officer. He is also charged with one count of wire fraud and two counts of bank fraud.
Catherine L. Dike, aka “Cathy Carter,” 59, Plano, Texas, was an escrow officer. She is charged in 16 counts of the indictment --- one count of conspiracy, ten counts of wire fraud and five counts of bank fraud.
Defendants William Barnes, 59, Desoto, Texas, who owned BCT Landscaping, and Foday S. Fofanah, 38, Waxahachie, Texas, recruited straw borrowers. Barnes is also charged with three counts of wire fraud and Fonanah is also charged with two counts of wire fraud.
According to the indictment, the defendants ran a scheme to defraud mortgage lenders and financial institutions. As part of that scheme, they located single family residences in and around the Dallas area that were offered for sale, recruited straw borrowers to purchase the targeted single-family residences, inflated the sales prices of the targeted residences to an amount greater than the fair market value of the residences; prepared and submitted false and fraudulent loan applications in the name of straw purchasers to secure mortgage loans for the targeted residences in amounts substantially greater than the fair market value, obtained substantially inflated loans from mortgage lenders and financial institutions based on false and fraudulent misrepresentations about repairs that were to be made on the targeted residences, paid the original owners of the residences, and distributed the remaining fraudulently-obtained proceeds among themselves.
The properties used in the scheme were located in Irving, Texas, on Broadmoor Lane and Glenbrook Drive; in Arlington, Texas, on Shadow Ridge, Wimbledon, Racquet Club Drive, and Woodsong Trail; in Sherman, Texas, on Preston Drive and Post Oak Drive; and in Rowlett, Texas, on Beech Street and Orchid Lane.
The loans on the properties have gone into default. The total amount of fraud attributed to these defendants is estimated to be approximately $14 million.
If convicted, however, the maximum statutory penalty applicable to the conspiracy to commit wire fraud count is 20 years in prison and a $250,000 fine; the maximum statutory penalty applicable to the conspiracy to commit bank fraud count is 30 years in prison and a $1 million fine; the maximum statutory penalty applicable to each of the wire fraud counts is 20 years in prison and a $250,000 fine; the maximum statutory penalty applicable to each of the bank fraud counts is also 30 years in prison and a $1 million fine.
mortgage fraud
Daniel J. Sattizahn, 29, Plano, Texas, is also charged with three counts of wire fraud. He was a co-owner and operator of Benchmark Mortgage
Daniel J Sattizahn is not the co-owner nor is he the operator of Benchmark Mortgage. The owners and Founders of Benchmark Mortgage are Bryan Harlan & Stewart Hunter. I have a retraction from the office of Richard Roper US Attorney Northern District of Texas. If someone has an e-mail address for the staff writer of this article or some other representative of this blog I will galdly send it. Mr. Sattizahn misrepresented himself to the DOJ.
Respectfully,
Rich Detz
Benchmark Mortgage
Posted by on 03/27 at 05:27 AM
Aegis Mortgage Corporation is a victim in this matter. We have the indictment but it is missing page 2. Can you please post the indictment? Thank you
Posted by on 04/09 at 04:51 AM
I am looking at working with Benchmark Mortgage Bank regarding several investment properties for loss mitigation purposes.
Could you tell me if this company has a good reputation?
Posted by on 09/10 at 08:34 AM
I am looking at working with Benchmark Mortgage Bank regarding several investment properties for loss mitigation purposes.
Could you tell me if this company has a good reputation?
Posted by on 09/10 at 08:34 AM
Mr. Don Jones along with his son Matt, were also involved in the first Charter school of Texas, Renaissance Charter School in which 4.5 million or more of state funds were allegedly taken via false attendance records and such. Haver there been charges filed in this matter as well to your knowledge?
Also, sentencing is to occur 11/17/08 @ 1:30 p.m. 13 floor of U.S. District Court Judge Lindsay presiding (1100 Commerce St.). Would you please advise as to the sentencing and if any funds were recovered?
Posted by on 10/24 at 03:17 PM
This entire group was introduced and directed by an individual who is not in the indictment. I know him personally and know that he put this entire crew together and then at first sign of trouble he snitches on everyone; including Daniel Sattizahn who was his best friend since childhood. Daniels’ parents lent this individual $60k to start up his business and he never paid them a dime back. Daniel was a licensed attorney - he went to Princeton undergrad and Notre Dame Law. He worked for this individual trying to get his parents paid back.
The individuals name is Steve Gillespie from Frisco Texas.
Posted by on 10/30 at 08:24 AM
Dear Sir/Madam,
I AM Mr Robert William. THE PUBLIC RELATION OFFICER (P.R.O.) OF A REGISTERED FINANCIAL LOAN COMPANY.WE OFFER OUT LOANS TO BOTH COMPANIES ANDINDIVIDUALS AT AN AFFORDABLE INTEREST RATE OF 3% BE IT SHORT OR LONG
TERM LOAN.FOR MORE INFO ABOUT THIS OFFER,CONTACT US AT
firm1000@gmail.com
LOAN APPLICATION FORM FILL AND RETURN IT BACK
1) Full Name:.........................
2)Gender:...............................
3) Loan Amount Needed:...................
4) Loan Duration:................................
5) Country:...................................
6) Home Address:...............................
7) Mobile Number:...............................
8) fax Number:............................
9) Occupation:..............................
10) Work Address:..............................
11) Purpose of Loan............................
12) Bank address................................
13) Marital Status:...............................
14) Date Of Birth...............................
Thanks and God Bless,
Best Regards,
Mr Robert William
Posted by on 03/03 at 11:12 AM
I went to high school with Daniel, and I feel horrible about reading this story. I also went to Notre Dame, so he and I shared that connection as well. However, my mom was one of his high school teachers, and he tried to get her fired over some BS that he made up. I thought ND Law might have changed his character, but I guess I was wrong.
If you need a friend, Daniel, call me up. You know who I am.
Posted by on 07/14 at 08:07 PM
Hello Sir/Ma’am
My name is Justin Weaver and I am the owner of simple solutions for financial needs. I do not want to sell you anything at all but simply give you my full service. What I do is help those who are receiving monthly payments from a mortgage or deed or what we call a “Note” Receive a Big lump sum of cash at one time. How would you like to help not only yourself but also your clients in receiving the most out of their money? This is no charge to you or your clients. It is 100% secured and Satisfactory. All I will need is to ask you a couple questions and I can do the rest and get back to you as soon as I can with a buyer. I have top buyers waiting for every deal. How would you feel about that??
I also have a website that you could look under for your own personal needs.
It is www.cash4cashflows.com/jweaver17
Please feel free to contact me at any time my cell number is 808-636-3861.
Thank You For Your Time,
Justin Weaver
Owner – Simple Solutions For Financial Needs
Posted by on 08/05 at 06:35 PM
Post a Comment
The trackback URL for this entry is:
Trackbacks:
|
|
|
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.
More Trial Coverage
|
|
|
|
|
|
|
|
|
|
|
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 
