 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. Email Ms. Dollar
Mortgage Fraud Blog is co-sponsored by Interthinx the leading provider of fraud services and solutions for the mortgage industry.
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Friday, April 14, 2006
Three Arrested in Alleged Theft of Leads from Former Employer
Neal Elbaum, 29, Hollis Hills, New York and Ralph Donza, 32, were arrested and charged with Commercial Bribing, Unlawful Duplication of Computer Related Material, and Unlawful Possession of Personal Identification Information. Co-defendant Carlos Orellano, 38, Great Neck, New York, was also arrested and charged with Commercial Bribe Receiving and Computer Tampering. The defendants were arrested in connection with a theft of proprietary information from Old Merchants Mortgage, Inc., of Lake Success, New York the former employer of Elbaum and Donza and current employer of Orellano. Ralph M. Donza  | It is alleged that in the summer of 2005, Donza contacted information technology expert and former co-worker Orellano. In July, 2005, Donza and Elbaum allegedly met with Orellano and Elbaum paid Orellano thousands of dollars to obtain the name and access codes to a computer account in the Old Merchants Mortgage computer system, which would provide access to Old Merchants Mortgage’s leads on potential mortgage customers. Elbaum and Donza had started their own mortgage company in Garden City, New York - Old Commonwealth Mortgage, LLC. - of which Elbaum is listed as the President. Investigators believe that it was their intention to use the stolen information from Old Merchants Mortgage to profit Old Commonwealth Mortgage. Orellano provided the requested information to Elbaum and Donza. Carlos Orellano  | In January, 2006, Old Merchants’ changed their computer system used for receipt and storage of its mortgage leads and once again, it is alleged that Elbaum gained access to the new accounts. Old Merchants Mortgage discovered the unauthorized access and the involvement of Orellano in the theft. They hired investigators who recorded a telephone conversation between Orellano and Elbaum in which Elbaum admitted having access to Old Merchants Mortgage’s accounts, his concerns about getting caught, and his desire to obtain more leads from his old employer. Old Merchants Mortgage estimates that it had paid in excess of $1.3 million for the computer mortgage leads that the defendants had unlawful access to. Neal S. Elbaum  | On Thursday, April 6, 2006 a search warrant for the defendants’ business, Old Commonwealth Mortgage, LLC. was secured by Judge Frank A. Gulotta and was executed the following day. Documents, records, computers, and related equipment were seized from the defendants’ Garden City, New York office. Two of the defendants were arraigned Saturday, April 8, 2006 in Hempstead. Bail was set at $5,000 for Elbaum, and $2,500 for Donza. Orellano was arraigned on April 10.
 mortgage fraud
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Posted by on 07/27 at 03:59 AM Now, these people should receive a serious punishment because what they did is not normal at all. I hate people who do such things. Congratulations to the authorities!
Posted by on 10/30 at 10:20 PM
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Some Sources require Registration.
Erie Area Mortgage Broker Gets Prison in Fraud Case
GoErie.com - Erie, PA
Shortly before receiving a nearly three-year federal prison sentence, former mortgage office manager Francis R. Conti told the judge he never meant to defraud any of the homeowners caught up in a widespread local mortgage-fraud scheme.
Three Former Portland-Area Mortgage Brokers Face Fraud Charges
OregonLive.com - Portland, OR
Joel D. Surprenant, Michael Duc Han and Benjamin Lucian Lucescu all were charged with one count of obtaining mortgage loans through materially false and fraudulent pretenses.
Shaker Pair Pleads Guilty to Mortgage Fraud Charges
Cleveland.com - Cleveland, OH
Two Shaker Heights residents recently pleaded guilty to charges involving a mortgage scheme with seven area houses and $3 million in fraudulent loans.
Feds File Charges in Five Mortgage Fraud Cases
Chicago Breaking News - Tribune - Chicago, IL
Federal charges were filed today against 37 people and four companies in five separate mortgage fraud cases.
Feds Fighting Back
Contra Costa Times - Walnut Creek, CA
Mortgage fraud has increased so dramatically in the San Joaquin Valley that a task force of federal, state and local agencies has been formed to fight back.
Private Investigator Sees Rise in Mortgage Fraud Due to Economy
PR Web - Ferndale, WA
In the past 12 months his firm has been retained to conduct over 300 mortgage fraud investigations, a 100% increase from 2007.
Former UGA, NFL Football Player Arthur Marshall Charged With Mortgage Fraud Claims
WJBF-TV - Augusta, GA
He is also accused of defrauding three banks in obtaining loans for seven different properties in Columbia and Richmond Counties.
Cuomo Subpoenas Loan Modification Companies
New York Times - United States
“The entire industry is a scam, in my opinion,” Mr. Cuomo said Tuesday. “These are services that homeowners don’t need to pay for in the first place.”
Defendant Pleads Guilty to Wire Fraud Relating to Mortgage Fraud Scheme
Imperial Valley News - Holtville, CA
Scavitti admitted that between 2003 and August 2008 he unlawfully diverted mortgage funds that were wire transferred into his client office account to his own personal benefit, resulting in losses in excess of $2.5 million.
Fed Drug Report: Double Trouble for Metro Chicago
ABC7Chicago.com - IL
...Chicago street gang members run a network of legitimate businesses and have engineered mortgage fraud schemes, both to launder drug proceeds...
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
Update - US v. F. Jeffrey Miller, et al.
Miller II: Judge Julie Robinson has ruled in favor of the defense motion granting a continuance for sentencing of the 3 convicted defendants: F. Jeffrey Miller, Steve Vanatta and Hallie Irvin. The three will now be sentenced after ruling on post trial motions set for August 10, 2009.
Vanatta has been in custody for over 2 years. Vanetta filed a motion for his release pending sentencing. That motion was denied.
Miller remains free pending his sentencing. He has hired a new attorney who filed a motion to delay Miller's sentencing. In one post trial motion, the defense argues as to what assets are subject to seizure.
Defendant Todd Earnshaw is a Kansas City real estate Broker (and brother in law of Miller). Earnshaw has been indicted in what is commonly referred to as Miller I. A trial date for that matter has been set for January, 2010 in Topeka, Kansas.
The Government filed a motion to revoke Earnshaw's bond and remand him to custody while he awaits trial after learning that he allegedly committed the state crimes of Driving Under the Influence, Handicap Parking Violation and Failure to Control Speed to Avoid a Collision while on pretrial release. Notwithstanding finding that probable cause existed to believe that Earnshaw committed the aforementioned state crimes, Judge Robinson denied the motion, but ordered several strict conditions that Earnshaw must follow pending his trial.
More Trial Coverage
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