Monday, August 18, 2008
Mortgage Broker Admits Defrauding Lenders
Richard J. Thomas, 44, Pittsburgh, Pennsylvania, pleaded guilty in federal court in Pittsburgh to a charge of mail fraud. Thomas pleaded guilty to one count before United States District Judge Joy Flowers Conti.
In connection with the guilty plea, Assistant United States Attorney Luke Dembosky advised the court that, from in and around May 2002 to in and around February 2007, Thomas, while employed as a mortgage broker with Penntowne Mortgage Group, LLC, defrauded lenders by taking out second and third mortgages on residential properties without the owners’ knowledge, diverting the proceeds and other mortgage transaction monies to his own use. The total losses in the scheme are $961,704.
Judge Conti scheduled sentencing for November 20, 2008 at 3:00 p.m. The law provides for a maximum sentence of twenty years in prison, a fine of $250,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the criminal history, if any, of the defendant.
The Federal Bureau of Investigation conducted the investigation that led to the prosecution of Thomas.
mortgage fraud
THIS WHOLE STORY IS SO FABRICATED. THE WHOLE TRUTH IS NOT BEING TOLD. WHILE RICHARD THOMAS DID USE THIS MONEY FOR HIS OWN PERSONAL GAIN, HE DID NOT HAVE ACCESS TO ESCROW CHECKS AND HE DID NOT HAVE ANY KNOWLEDGE OF HOW THE TITLE SOFTWARE WORKED SO THOSE CHECKS COULD BE CUT. Richard Thomas’s Wife Kathleen Trainor Thomas (Kate) was a Settlement Title Agent for the Title Company that Richard did his loans through. Kate would divert the money, and then give it to Rick. Kate also used this money for her own personal gain. We are all being fooled by her fake act - she is the one who needs to be sent to prison - Kate is the brains behind this scheme - she has been doing it for years - its time to quit lying and take responsibility for what you have done.
Posted by on 09/29 at 06:39 AM
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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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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 
