Monday, December 08, 2008
Palm Beach Resident Sentenced For Mortgage Fraud
Lauren Jasky, 30, was sentenced by U.S. District Court Judge Donald M. Middlebrooks to 36 months’ imprisonment, to be followed by 5 years of supervised release. As previously reported by Mortgage Fraud Blog, Judge Middlebrooks sentenced defendant Ralph Michel, a/k/a Ralph Duverneau, 36, to 30 months’ imprisonment, to be followed by 4 years of supervised release. On November 19, 2008, Judge Middlebrooks sentenced defendant Berry Louidort, 27, to 37 months’ imprisonment, to be followed by 5 years of supervised release. All three defendants previously pled guilty to conspiracy to commit bank fraud and mail fraud. Defendants Michel and Louidort also pled guilty to a money laundering charge.
According to court documents and court testimony, this investigation began with an audit conducted by the Florida Office of Financial Regulation into 24 sub-prime mortgage loans initiated by Compass Mortgage Service, Inc. (“Compass Mortgage”), located at 7015 Beracasa Way, Ste 104, Boca Raton, FL. The initial audit revealed that the loans included excessively large fees paid to defendants Berry Louidort and Ralph Michel. The fees, ranging from $29,000 to $650,000, were described as marketing and/or assignment fees. In fact, however, the fees were kickbacks to defendants Louidort and Michel based on inflated sales prices. The audit also revealed that the majority of the suspect loans were originated by defendant Lauren Jasky, Senior Vice President of Compass Mortgage.
To execute the scheme, the defendants fraudulently bought and sold residential property in Palm Beach County, FL. Defendants Louidort and Michel received large assignment and marketing fees and Jasky received mortgage brokerage fees. The defendants prepared fraudulent loan applications for the purchasers and submitted them to the lenders. The applications included materially false information about the borrowers’ employment verification, income, funds on deposit, and rent history.
This prosecution is the result of the efforts of the Palm Beach County Mortgage Fraud Task Force. This Task Force is composed of federal and state law enforcement agencies, including the U.S. Attorney’s Office for the Southern District of Florida, the Internal Revenue Service, the Federal Bureau of Investigation, the U.S. Department of Housing and Urban Development - Office of Inspector General, the U.S. Department of Veteran Affairs - Office of Inspector General, the United States Probation Office, the Office of Financial Regulation, the Department of Financial Services, and the Palm Beach County Sheriff’s Office.
Mr. Acosta commended the investigative efforts of the Federal Bureau of Investigation, the Internal Revenue Service, the Office of Financial Regulation, the Department of Financial Services and the members of the Palm Beach Mortgage Fraud Task Force in this matter. The case is being prosecuted by Assistant United States Attorney Lothrop Morris.
mortgage fraud
Great stuff,very informative!This is actually very good.
pdaaccessories.com/list-Palm.asp
Posted by on 12/12 at 03:48 AM
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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
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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 
