Monday, February 05, 2007
Missouri Mortgage Broker and Husband Charged with Mortgage Fraud
Anna and Mark Bonds were indicted on ten charges involving a mortgage scheme. Anna Bonds was indicted by a federal grand jury on nine felony counts of mortgage fraud and one felony count of conspiracy to commit mail fraud. Mark Bonds was indicted on four counts of mortgage fraud and one count of conspiracy to commit mail fraud.
“Mortgage fraud causes a boost in the home foreclosure rate. This has a negative impact on our neighborhoods and our property values,” said United States Attorney Catherine L. Hanaway.
“The FBI recognizes that mortgage fraud activity results in a negative impact on individual victims, and the local economy as a whole, and we are committed to aggressively investigating this type of activity,” added FBI Special Agent in Charge Roland Corvington.
According to the indictment, Anna Bonds, a/k/a Anna Tillman, and her husband Mark devised a scheme to defraud mortgage lenders of funds by inducing them to fund mortgages based upon false and fraudulent information. Anna Bonds was a mortgage broker and was employed by A Mortgage Solutions and C.D. Adams. They both also bought and sold properties. Anna Bonds would obtain false financial and employment documents, which would inflate a borrower’s income and thus make them able to obtain a mortgage. Had the lenders been aware of the fraud, they would not have funded the loan. Anna Bonds was paid a commission only if she was able to obtain a mortgage for a client.
Anna Bonds also brokered loans for property that she and Mark Bonds were personally selling or buying. She would use false financial and employment information to obtain personal mortgages, as well as for mortgages of the purchasers of her real estate. She would conceal her role in these transactions by preparing the false loan applications but having another mortgage broker sign the applications, the indictment charges.
Finally, the indictment alleges that Mark and Anna Bonds built a new residence by obtaining a $364,507 loan using these same fraudulent pretenses.
Properties include:
601 Ballman, St. Louis, Missouri
7004 Claremore, St. Louis, Missouri
5196 Delcastle Drive, St. Louis, Missouri
7010 Edison, St. Louis, Missouri
2819 Sidney, St. Louis, Missouri
1281 Stephen Jones, St. Louis, Missouri
2658 Yaeger, St. Louis, Missouri
5452 Claxton, St. Louis, Missouri
209 Kirk, St. Louis, Missouri
3928 Philbrook, St. Louis, Missouri
If convicted, each mortgage fraud charge carries a maximum penalty of thirty years in prison and/or fines up to $1 million; the conspiracy charge carries a maximum of five years and/or fines up to $250,000.
mortgage fraud
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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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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.
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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.
More Trial Coverage
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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 
