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 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.
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Friday, October 15, 2004
Kakvand, Groh, Razvi - Chicago, Illinois
3 Indicted in Mortgage Scheme - Chicago Business
Thomas M. Groh, Elgin, Illinois, 57, real estate appraiser (wire fraud, 8 counts bank fraud)
Mohammad Taghie Kakvand, a.k.a. Mike Kakvand, Park Ridge, Illinois, mortgage broker, Residential Realty Development, Inc (wire fraud)
Syed Ali Mohammed Razvi, 39 (wire fraud, 4 counts bank fraud)
Jan Rozycki, a.k.a. Jarek Kozla, was named but was not indicted
The defendants were indicted in the Northern District of Illinois for their roles in a mortgage fraud scheme. Prosecutors allege that Mohammad Taghie Kakvand, a.k.a. Mike Kakvand would buy apartment houses through Residential Realty Development, Inc. and obtain loans for buyers of his condominiums through brokerages that he owned. Thomas M. Groh allegedly prepared false appraisals that overvalued and misrepresented the condition of the properties. An arrest warrant was also issued for Syed Ali Mohammed Razvi. Jan Rozycki, a.k.a. Jarek Kozla, who recently pleaded guilty in a separate mortgage fraud case in Rockford, was named but was not indicted. The defendants allegedly obtained $27.3 million in loans from 1997 through August 2004 and the scheme involved at least 32 apartment buildings in Chicago, Illinois neighborhoods such as Rogers Park and South Shore.
 mortgage fraud
Please notify me if anything else should arise from this, such as arrests/court dates / outcome /etc
Thank You
Posted by on 10/30 at 07:18 AM
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Some Sources require Registration.
Mortgage Fraud: Beware the Wolf (Loan Officer) in Sheep's Clothing
24-7PressRelease.com - USA
US consumers looking to refinance their homes or to secure a home loan to purchase their dream homes would be well advised to educate themselves...
Internet Scammer Sells Cape Coral Residential Lot For $18,000
The News-Press - Fort Myers, FL
Because she had title insurance, Kunda will probably get back her money from the 2007 purchase, but the incident highlights cracks in the real estate market and the risk from international scammers who are growing more sophisticated.
Prosecutors Busy With Fraud Cases
Daytona Beach News-Journal - Daytona Beach, FL
The U.S. Justice Department has formed more than 40 mortgage fraud task forces nationwide as prosecutors and investigators struggle with a flood of mortgage-related criminal cases. The FBI reports that its mortgage-fraud caseload has more than doubled in three years to about 1,600 investigations that have cost lenders at least $4 billion. About 200 FBI agents are assigned to the cases, up from 120 a year ago.
Yanchek may take plea deal
Herald Tribune
Sarasota attorney John Yanchek is expected to plead guilty to mortgage fraud next week, statements from a federal prosecutor and the judge presiding over the high-profile criminal case seem to indicate.
Bear Stearns Execs Trial Slated for September
News Inferno
Two former Bear Stearns hedge fund executives are slated to go to trial in September over charges that they lied to investors about two of the funds they managed
Rockford, Chicago lead state in mortgage fraud
Rockford Register Star
Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared with the year-ago period.
Report Finds Tampa No. 2 In Florida For Iffy Mortgages
Tampa Bay Online
In a state that leads the nation in mortgage fraud, Tampa had the second most cases of suspicious loan activity of any Florida city, according to a report released this morning from the Reston, Va.-based Mortgage Asset Research Institute.
Mortgage Fraud Jumps by 45% on Fewer Loan Applications in U.S., Per... MARI
Cloud Computing Journal
Key findings from the MARI Quarterly Fraud Report include that fraud most often occurs at the beginning of the loan process. More than 65 percent of fraud incidents are attributed to "General Application Misrepresentation"
Seven Are Accused Of Identity Theft And Mortage Fraud
The Star Ledger, New Jersey
Seven people have been arrested in connection with an international identity-theft scheme that targeted home equity lines of credit and siphoned at least $2.5 million away from dozens of banks, including more than 10 in New Jersey, according to documents unsealed today.
Suthers Cracks Down On Mortgage Fraud
Rocky Mountain News - Denver, CO
Suther’s office also indicted 10 individuals last March in an $11 million mortgage fraud ring involving 34 local properties...Several other investigations of mortgage fraud are ongoing.
Previous Articles
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
U.S. v. Miller, et al.
Thursday, December, 18, 2008
Verdict:
F. Jeffrey Miller Guilty of Conspiracy and Money Laundering
Steven Vanatta Guilty of Conspiracy , Money Laundering and Bank Fraud
Hallie Irvin Guilty of Conspiracy , Money Laundering and Bank Fraud
Sandra Jo Harris Not guilty- all counts
More Trial Coverage
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