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 borrowers 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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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...
Internet Scammer Sells Cape Coral Residential Lot For $18,000
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.
Prosecutors Busy With Fraud Cases
Daytona Beach News-Journal - Daytona Beach, FL
The U.S. Justice Department has formed more than 40 mortgage fraud task forces nationwide as prosecutors and investigators struggle with a flood of mortgage-related criminal cases. The FBI reports that its mortgage-fraud caseload has more than doubled in three years to about 1,600 investigations that have cost lenders at least $4 billion. About 200 FBI agents are assigned to the cases, up from 120 a year ago.
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.
Bear Stearns Execs Trial Slated for September
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
Rockford, Chicago lead state in mortgage fraud
Rockford Register Star
Reported incidents of mortgage fraud grew by 45 percent in the second quarter compared with the year-ago period.
Report Finds Tampa No. 2 In Florida For Iffy Mortgages
Tampa Bay Online
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
Rocky Mountain News - Denver, CO
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.
Previous Articles
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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. 
