Wednesday, October 24, 2007
Man Receives 14 Years for Real Esate Scam
Mickey Allen Weicksel, a former real estate investor who obtained about $4 million in kickbacks through a real estate scam centered in Lancaster, Pennsylvania, was sentenced to 14 years in prison, five years probation after his release, and ordered pay $750,324 in restitution.
On March 3, 2006, a jury convicted Weicksel of 14 counts of wire fraud, 3 counts of bank fraud, and 1 count of conspiracy to commit money laundering. Weicksel and his former partner, Barrylee Paul Beers, operating as Paul-Allen Enterprises or ”PAE,” carried out a scheme to obtain loans for the purchase of real estate by providing banks and mortgage companies with false financial information, by misrepresenting the true sale price of the purchased properties, and by concealing the fact that sellers had agreed to kick back a substantial part of the sale proceeds to defendants at closing. From approximately June, 1997, through approximately September, 1998, Weicksel and Beers purchased more than 100 properties in the Lancaster area and obtained over $4,000,000 in kickbacks.
mortgage fraud
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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...
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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.
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Daytona Beach News-Journal - Daytona Beach, FL
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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.
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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
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Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared with the year-ago period.
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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
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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.
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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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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. 
