Thursday, February 07, 2008
Las Vegas Man Arrested on 32 Counts of Fraud
Matthew Marlon, Las Vegas, Nevada, was arrested by investigators from the Nevada office of Secretary of State Ross Miller. Marlon faces 32 felony charges related to the fraudulent purchase of Las Vegas, Nevada area homes. Secretary of State officers served Marlon with an arrest warrant when he arrived at the home of two of his victims who were cooperating with investigators.
“We’re concerned that these initial charges represent just the tip of the iceberg,” said Secretary of State Miller. “There are potentially many more victims of this type of scam out there, and we intend to aggressively investigate those cases. We’re also going to aggressively pursue anyone who makes fraudulent corporate filings in Nevada.”
Marlon is currently facing charges that include 32 counts of offering a false document for filing or recording; two counts of theft of property by false pretenses; two counts of obtaining property by false pretenses from victims over the age of 60; and, five counts of forgery. According to Secretary of State officials, Marlon targeted homeowners who were anxious or desperate to sell their homes. Using an alias, Marlon would tell a homeowner that he would assume the responsibility of their mortgage in exchange for the deed to the home and, in some cases, a small amount of cash, sometimes as little as $200.00. After taking physical possession of the home, Marlon would then rent the home to new tenants, collecting rent, but never paying the mortgage as he had promised the original homeowner. Homeowners would then find out after a few months had passed, that no payments had been made on the loan, which was still in their name.
“We believe Mr. Marlon used a series of fraudulently filed corporations as part of these transactions, and made promises to his victims that were not made in the documents he presented for the victims to sign,” said Miller. “He also told his victims that a real estate agent could not be involved in the transaction, and that he would take care of all the paperwork. To the unsuspecting victims, it was an opportunity to avoid looming foreclosure and a ruined credit rating.”
Secretary of State officers are continuing their investigation, and working directly with the office of Nevada Attorney General Catherine Cortez Masto.
Homeowners should be aware that if they sell their home but do not make sure that the mortgage is paid off as part of the sales transaction, they will still be obligated to pay the lender and the property will go into foreclosure. Using a reputable title company should assure that the mortgage is paid off by the buyer before title to your home is transferred. Most mortgages cannot be “transferred” to a new person without the lender’s written permission.
Some of the warning signs of potentially questionable or fraudulent mortgage deals are:
You are asked to sign a deed or other papers, and the seller promises to pay off your mortgage, but no escrow is opened;
You are told that a real estate agent or title company “doesn’t need to be involved;”
You are told that the buyer will “take over the payments;”
The buyer tells you he will buy your house for the sum of the mortgages owing and an additional amount of money which he will pay in cash.
mortgage fraud
Anyone that would take advantage of another misfortune deserves to have the book thrown at him.. Even though there are no more mortgage loan scams, someone thinks of something. However, I think a similar thing happened in California before during the 1970’s..
Posted by on 02/07 at 05:53 PM
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Mortgage Fraud Risk Index Jumps 11 Percent, According to Verisk Analytics Subsidiary Interthinx
CNNMoney.com
The report...indicates that the overall Interthinx Mortgage Fraud Risk Index surged more than 11 percent from the previous quarter...
Mortgage Fraud Case Appears Headed to Jury in Jackson County Circuit Court
The Jackson Citizen Patriot - MLive.com
The prosecution and defense rested Thursday in the mortgage fraud cases against Teresa Marie WIlson and Angelo Surveo Williams.
Wyoming Woman Charged with Mortgage Fraud After Allegedly Stealing Sister's Identity
MLive.com
A Wyoming woman is facing felony charges accusing her of stealing her sister's identity to obtain a mortgage...then defaulting on that mortgage, leaving taxpayers on the hook.
U.S. Attorney Targets White-Collar Crime
Wall Street Journal
In San Francisco, Mr. Russoniello said he is trying to crack down on cases like mortgage fraud, though he doesn't have the budget to hire additional white-collar prosecutors.
Arrests Made in Orlando Mortgage Fraud Roundup
MyFoxOrlando.com
During the real estate boom two years ago, some units were going for a half million dollars. Now some are short selling for just 50 grand.
10 Accused of Mortgage Fraud at PR Coastal Resort
Forbes
A developer and nine other people, including a former salsa singer, have been charged in an alleged $14 million mortgage fraud in Puerto Rico...
Strodtman Jury Selected in Mortgage Fraud Trial
Greeley Tribune
Attorneys will deliver opening statements this morning in the trial of Mark Strodtman, who is accused of bilking homeowners in a mortgage scheme years ago.
FHA Digging Out After Loans Sour
Wall Street Journal
Most banks rejected Ms. DeForte because her debt level was too high and her credit score too low. But Lend America put Ms. DeForte into a $402,000 loan backed by the Federal Housing Administration...
Mortgage Fraud Probe Nets 105 Across State
Bradenton Herald
At least one local man is among 105 people arrested across the state following a nine-month investigation into organized mortgage fraud.
Mortgage Fraud Increases
MortgageRates.co.nz
The number of frauds involving professional advisors, such as accountants and lawyers, has increased from two to four since March 2008.
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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.
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