Mortgage Fraud Blog http://www.mortgagefraudblog.com Central clearinghouse for information on recent mortgage fraud information, fraud schemes and indictments. en atussey@mortgagefraudblog.com Copyright 2010 2010-03-17T09:57:32Z California Loan Brokers Ordered to Pay Penalties http://www.mortgagefraudblog.com/index.php/weblog/california_loan_brokers_ordered_to_pay_penalties/ Mortgage Fraud Locations Ed Veronick Mortgage Loans, Inc., and its corporate officers and employees, were sued in a civil action for conspiracy and illegal business practices between June 2004 and June 2007 to obtain an unfair advantage over competitors and earn illegal profits out of commissions on loans brokered by unlicensed persons. A civil judgment has been obtained against Ed Veronick Mortgage Loans, Inc., and its corporate officers and employees. The defendants were ordered not to …

Read More...]]> 2010-03-17T09:57:32Z Forty Indicted in Major East Texas Mortgage Fraud Scheme http://www.mortgagefraudblog.com/index.php/weblog/forty_indicted_in_major_east_texas_mortgage_fraud_scheme/ Mortgage Fraud Locations 40 individuals have been arrested and charged in connection with a major mortgage fraud scheme in the Eastern District of Texas. The 16-count indictment was returned by a federal grand jury on March 10, 2010, and includes one count of conspiracy to commit mail and wire fraud, 12 counts of mail fraud, and three counts of money laundering.

The 40 defendants, from Texas, Florida, Massachusetts, Tennessee, and Georgia, are charged as follows:


  • Read More...]]> 2010-03-17T09:57:10Z Judgment Rendered in Real Estate Scheme http://www.mortgagefraudblog.com/index.php/weblog/ag_gets_judgement_in_real_estate_scheme/ Mortgage Fraud Types, Investment Scams, Mortgage Fraudsters, Ringleader, Mortgage Fraud Locations, North Carolina Richard Amelung and J. Kevin Foster, North Carolina, have enetered into consent judgements in regards to the Village of Penland, Mitchell County, North Carolina real estate schemes. This brings to four the total number of defendants who have entered into consent judgments with the Attorney General's office in the case.

    In June 2007, the scheme to sell overpriced lots in the North Carolina mountains was thwarted by the North Carolina AG. The …

    Read More...]]> 2010-03-16T09:48:22Z New York FBI Shines Light on Potential Rental and Real Estate Scams http://www.mortgagefraudblog.com/index.php/weblog/the_fbi_new_york_shines_light_on_potential_rental_and_real_estate_scams_in_/ Mortgage Fraud Locations The Federal Bureau of Investigation's New York Office is warning the public to remain on the lookout for scams involving real estate and rental properties. Two largely reported scams, which operate through Internet advertising, are being reported by individuals who have fallen victim to such malicious behavior.

    The first type of scam occurs when an individual advertises a rental property and is contacted by someone claiming to be interested. A rental price is agreed-upon and the …

    Read More...]]> 2010-03-16T09:45:08Z Fraudster Pleads Guilty to Land Fraud Scheme http://www.mortgagefraudblog.com/index.php/weblog/fraudster_pleads_guilty_to_land_fraud_scheme/ Mortgage Fraud Types, Investment Scams, Mortgage Fraudsters, Ringleader, Mortgage Fraud Locations, Florida Daniel Stephen, 43, Miami Shores, Florida and Patricia De Pons, 54, Miami Shores, Florida pled (Stephen, De Pons) guilty to conspiracy to commit mail fraud in connection with a vacant land sale scheme that defrauded more than 1,000 victims out of $10.6 million.

    According to the indictment and as previously reported on Mortgage Fraud Blog, this case arose out of the sale of land …

    Read More...]]> 2010-03-16T09:22:13Z Mortgage Fraud Charges Filed Against Investment Co. & Employees http://www.mortgagefraudblog.com/index.php/weblog/mortgage_fraud_charges_filed_against_investment_co_employees/ Mortgage Fraud Types, Investment Scams, Mortgage Fraudsters, Mortgage Loan, Mortgage Fraud Locations, Nevada Brett Depue, 36, Gilbert, Arizona, formerly of Las Vegas, Nevada, Brian Barney, 36, Fairfield, California, and Maria Ornelas, 32, Las Vegas, Nevada, are charged with conspiracy to commit bank fraud, mail fraud, and wire fraud, 11 counts of wire fraud, and criminal forfeiture.

    The Indictment alleges that from about February 1, 2005, to May 31, 2007, in Nevada and elsewhere, the defendants participated in a mortgage fraud conspiracy in which they …

    Read More...]]> 2010-03-16T09:13:01Z Former Attorney Sentenced for Multi Million Dollar Mortgage Fraud http://www.mortgagefraudblog.com/index.php/weblog/former_attorney_sentenced_for_multi_million_dollar_mortgage_fraud/ Mortgage Fraud Types, Escrow Theft, Investment Scams, Mortgage Fraudsters, Settlement Agent, Mortgage Fraud Locations, Georgia Trent Edward Wright, 38, Cumming, Georgia, was sentenced on a mail fraud charge involving a mortgage fraud scheme which victimized lenders and title insurance companies.

    Wright was sentenced to 1 year, 9 months in prison to be followed by 3 years of supervised release, and ordered to pay $2,409,760 in restitution to the victims of the scheme. There is no parole in the federal system. Wright pleaded guilty to the mail fraud charge in …

    Read More...]]> 2010-03-15T09:50:25Z Real Estate Investor Pleads Guilty to Loan Fraud Scam http://www.mortgagefraudblog.com/index.php/weblog/real_estate_investor_pleads_guilty_to_loan_fraud_scheme/ Mortgage Fraud Types, Identity Fraud, Straw Buyer, Mortgage Fraudsters, Ringleader, Mortgage Fraud Locations, Michigan Paul Bashi, 27, Royal Oak, Michigan, and formerly of Washington Township, Michigan, pleaded guilty to a federal information that charges him with conspiracy to commit wire fraud.

    During the plea hearing and according to court documents, Bashi admitted that, from September 2006 to March 2008, he recruited straw borrowers and assisted them in applying for loans to purchase residential property based on false information and fraudulent documentation with regard to employment, income, …

    Read More...]]> 2010-03-15T09:33:07Z Former Administrator Could Face Mortgage Fraud Charges http://www.mortgagefraudblog.com/index.php/weblog/former_administrator_could_face_possible_mortgage_fraud_charges/ Mortgage Fraud Types, Income or Asset , Mortgage Fraudsters, Seller, Mortgage Fraud Locations, New York David Carabello, 57, Warwick, New York, a top administrator for the New York State Office of Mental Health, promised a promotion to an OMH employee if the employee purchased Carabello's New Jersey condominium. Carabello also may have committed mortgage fraud related to the sale.

    Carabello, who was Deputy Director for Administration of the Rockland Psychiatric Center, violated state ethics laws and OMH policies by promising better …

    Read More...]]> 2010-03-15T09:10:50Z Police Officer Arrested for Mortgage Fraud http://www.mortgagefraudblog.com/index.php/weblog/police_officer_arrested_for_mortgage_fraud/ Mortgage Fraud Types, Income or Asset , Mortgage Fraudsters, Borrower, Mortgage Fraud Locations, New Jersey Brian Ragauckas, 36, Secaucus, New Jersey, a police officer, was arrested based on a Complaint charging him with bank fraud in connection with a $529,777 mortgage loan that he obtained through false representations to the former Countrywide Bank FSB.

    According to the Complaint, Ragauckas and his wife own property located in Secaucus, New Jersey which they purchased in June 2000 and which is subject to a thirty-year mortgage for $513,700. In …

    Read More...]]> 2010-03-12T09:59:32Z