Tuesday, December 02, 2008
Leader of Multimillion-Dollar NY Fraud Ring Pleads Guilty
Tahir Ali Khan pleaded guilty on November 25, 2008, to a four-count superseding Information charging him with conspiracy to commit bank, wire and credit card fraud, and aggravated identity theft. Ali Khan was the lead defendant in a 15 defendant, multi-count Indictment unsealed on August 15, 2007, and is the tenth defendant to plead guilty. According to the Indictment, the Superseding Information, other documents filed in the case, and statements made in court in connection with Ali Khan’s guilty plea:
Ali Khan was the leader of a fraud ring (the “Khan Ring") that produced false identification documents purporting to have been issued by state and federal government authorities, including driver’s icenses, resident alien cards, social security cards, and tax identification documents. The false identification documents were produced in the names of fraudulent identities, to which members of the Khan Ring referred to among themselves as “chickens.” In order to build financial credit for these fake identities, the Khan ring fraudulently established bank accounts, credit card accounts, apartment leases, and telephone and utility accounts in the names of the “chickens.” The Khan Ring also applied for and obtained lucrative bank loans, home mortgage loans, increased credit card limits, lines of credit, and other financial benefits in the names of the fraudulent identities or in the names of sham businesses supposedly operated by those fraudulent identities. The Khan Ring then defaulted on the loans and credit card debt, causing millions in losses to numerous financial institutions, including the Bank of America. Current loss estimates from the Khan Ring’s fraudulent activities exceed $20 million.
Ali Khan is scheduled to be sentenced on February 10, 2009, at 4:30 p.m., before United States District Judge Lorretta A. Preska. Ali Khan faces a statutory maximum sentence of 14 years in prison, a maximum fine of $250,000 or twice the gain or loss from the offense, and mandatory restitution to the victims of the offense. Ali Khan, 32, has been held in custody since his arrest on August 15, 2007.
In addition to Ali Khan, nine other defendants have pleaded guilty:
Oscar Sanchez pleaded guilty on November 13, 2008 to one count of bank fraud, and is scheduled to be sentenced on February 10, 2009 at 4:00 p.m.
Naveed Ali Bhindar pleaded guilty on June 6, 2008 to one count of money laundering, and is scheduled to be sentenced on December 22, 2008, 10:30 a.m.
Franklin Rodriguez pleaded guilty on July 1, 2008, to three counts of conspiracy – to commit identification document fraud, bank fraud, and to transport and sell stolen vehicles – and is scheduled to be sentenced on February 11, 2009 at 4:00 p.m.
Nadeem Khan pleaded guilty on July 31, 2008, to one count of conspiracy to commit identification document fraud, and was sentenced on November 24, 2008 to 46 months in prison.
Muhammad Ishaq pleaded guilty on September 26, 2008 to three counts of conspiracy – to commit identification document fraud, access device fraud, and bank fraud – and is scheduled to be sentenced on March 26, 2009, at 4:00 p.m.
Basharat Jarral pleaded guilty on September 29, 2008, to one count of storage and sale of stolen vehicles, and is scheduled to be sentenced on January 6, 2009, at 4:00 p.m.
Qaiser Qureshi pleaded guilty on October 27, 2008, to one count of conspiracy to commit identification document fraud, and is scheduled to be sentenced on February 11, 2009, at 4:30 p.m.
Shaheen Mukhtar pleaded guilty on November 5, 2008, to one count of conspiracy to commit identification document fraud, and one count of wire fraud, and is scheduled to be sentenced on February 11, 2009 at 3:00 p.m.
Fayyaz Ahmed pleaded guilty on November 12, 2008, to one count of access device fraud, and is scheduled to be sentenced on February 17, 2009, at 10;00 a.m.
All of the defendants awaiting sentencing are scheduled to be sentenced by Judge Preska.
Criminal charges remain pending against the following defendants: Arie Benshimon, Syed Hassan, Ghulam Mehmood, and Mohammad Sharif. One defendant, Syed Shah, remains a fugitive. As to these five defendants, the charges contained in the Indictment are merely accusations and the defendants are presumed innocent unless and until proven guilty.
mortgage fraud
Anybody know if these perps were or were not legally present in the U.S.?
Posted by on 12/06 at 04:55 PM
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Some Sources require Registration.
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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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. 
