Friday, July 06, 2007
North Carolina Man Ordered to Forfeit $3 Million
Roger Dale Ray, Raleigh, North Carolina, has been ordered to pay $3 million in forfeiture as a result of his role in a mortgage fraud scheme.
As previously reported on Mortgage Fraud Blog, Roger Dale Ray aka Peanut was named as a defendant in a superseding indictment filed in the United States District Court for the Eastern District of North Carolina. The charges against Ray include conspiracy to distribute a controlled substance; money laundering - continuing criminal enterprise; conspiracy to launder monetary instruments; money laundering; and, false statements. Ray was initially indicted on January 18, 2006; however, the indictment was sealed.
According to the indictment, on specified dates between January 24, 2003 and April 5, 2006, Ray allegedly made false statements to several lenders, including SouthTrust Mortgage Corporation, Central Carolina Bank, State Employee’s Credit Union, RBC Centura Bank and Wachovia Bank, by submitting false federal tax filings in support of loan applications. The drug charges allege that Ray conspired to distribute and possess with intent to distribute, more than five kilograms of cocaine and more than fifty grams of cocaine base (crack.) Mortgage Fraud Blog has been informed that the involved parties committed mortgage fraud in order to obtain investment properties and that further charges are expected. Ray was also reportedly a “real estate investor” and the owner of R&S Properties, Inc., CFI Mortgage, and Amstar Mortgage. Public records also indicate a relationship with Chase Holding Company, LLC; Evolution VII, LLC; LocalMotion R&S Properties Incorporated; Ray’s Development, LLC; RogDRick LLC, Smithfield Road, LLC and Woodpecker LLC.
The properties sought to be forfeited include:
2909 Oak Bridge Road, Raleigh, North Carolina;
4200 Ruby Drive, Raleigh, North Carolina;
9716 Fairchild Road, Zebulon, North Carolina;
9720 Fairchild Road, Zebulon, North Carolina;
4525 Auburn Church Road, Garner, North Carolina;
4513 Auburn Church Road, Garner, North Carolina;
2816 Quince Drive, Raleigh, North Carolina;
608 Wexford Drive, Raleigh, North Carolina;
1315 E. Lenoir Street, Raleigh, North Carolina;
907 E. Hargett Street, Raleigh, North Carolina;
9725 Fairchild Road, Zebulon, North Carolina;
234 W. Barbee Street, Zebulon, North Carolina;
217 S. Pettigrew Street, Raleigh, North Carolina;
2400 Sunny Lane, Raleigh, North Carolina;
7117 Brodie Alston Lane, Wendell, North Carolina;
7121 Brodie Alston Lane, Wendell, North Carolina;
1704 Pender Street, Raleigh, North Carolina;
3101 Rosinburg Road, Zebulon, North Carolina;
715 Sheperd School Road, Zebulon, North Carolina;
709 Carlisle Street, Raleigh, North Carolina;
102 First Avenue, Knightdale, North Carolina;
101 S. Smithfield, Knightdale, North Carolina;
7101 Missionary Ridge Drive, Raleigh, North Carolina;
316 N. Allen Road, Wake Forest, North Carolina;
3117 Woodpecker Court, Raleigh, North Carolina;
206 W. Barbee Street, Zebulon, North Carolina;
214 W. Barbee Street, Zebulon, North Carolina;
9712 Fairchild Road, Zebulon, North Carolina;
100 W. Barbee Street, Zebulon, North Carolina;
2015 Village Park Drive, Knightdale, North Carolina;
0 S. First Avenue, Knightdale, North Carolina;
0 Bethlehem Road, Knightdale, North Carolina;
1019 Windward Hill Court, Middlesex, North Carolina; and
100 Oakdale Avenue, Clayton, North Carolina.
mortgage fraud
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The report...indicates that the overall Interthinx Mortgage Fraud Risk Index surged more than 11 percent from the previous quarter...
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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
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.
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...
Strodtman Jury Selected in Mortgage Fraud Trial
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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.
FHA Digging Out After Loans Sour
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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
Bradenton Herald
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
MortgageRates.co.nz
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 
