Wednesday, August 08, 2007
Missouri Man Pleads Guilty to Mortgage Fraud Scheme
Ricky L. Hamilton, 52, Grandview, Missouri, pled guilty to a scheme involving a Kansas City, Missouri, City Councilwoman Saundra McFadden-Weaver. Hamilton was among three co-defendants indicted by a federal grand jury for conspiracy and wire fraud for their role in a scheme to engage in mortgage fraud.
As previously reported by Mortgage Fraud Blog, Saundra A. McFadden-Weaver, 47, Emanuel M. Kind, 51, both of Kansas City, Missouri, and Hamilton were charged in a seven-count indictment returned by a federal grand jury in Kansas City. McFadden-Weaver was a member of the Kansas City Council. Hamilton was a mortgage broker at Trinity Mortgage.
The indictment alleges that McFadden-Weaver, Kind and Hamilton participated in a conspiracy to defraud mortgage lenders. The co-defendants agreed that McFadden-Weaver would obtain a loan to purchase a home at 301 S.E. Hackamore, Lee’s Summit, Missouri, where Kind would reside and pay the mortgage and other expenses. McFadden-Weaver sought to obtain loans in excess of the listed sale price of the property in order to use the excess funds to rehabilitate a property at 2518 Benton Blvd., Kansas City, Missouri.
Hamilton agreed to broker the loan for McFadden-Weaver knowing that she did not intend to live in the Lee’s Summit residence and would have no responsibility for the property.
As part of the conspiracy, co-conspirators prepared material false and fraudulent and misleading loan applications and documents in support of the loan applications, which were submitted to MILA, a mortgage lending company with its principal office in Mountlake Terrace, Washington. MILA approved the loans, based upon that false information, including Settlement Statements, Occupancy Declarations, and other supporting documents.
mortgage fraud
Ricky L. Hamilton is a big criminal who commit the crime of fraudulent. But now he is in the custody of police. Government should give him a strict decision as prison of fourteen years.
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jerry
Posted by on 07/17 at 08:20 AM
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The prosecution and defense rested Thursday in the mortgage fraud cases against Teresa Marie WIlson and Angelo Surveo Williams.
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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
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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
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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
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A developer and nine other people, including a former salsa singer, have been charged in an alleged $14 million mortgage fraud in Puerto Rico...
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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.
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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
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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
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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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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 
