Deon Derrick Derrico, 43, North Las Vegas, Nevada, and Olujuwon Devin Bryant, 23, North Las Vegas, were charged with multiple felony counts for their involvement in a fraudulent title scheme wherein they allegedly forged quitclaim deeds for the purposes of collecting rent from unsuspecting tenants.
Steven Jones, 46, Charlotte, North Carolina, was convicted after a three-day trial of racketeering conspiracy, securities fraud, wire fraud scheme to defraud investors and money laundering conspiracy. His conviction is the latest in Operation Wax House, an investigation which began in 2007 and has netted 91 defendants to date, 86 of which have pleaded guilty or been convicted following a trial.
Michael W. Yancey, 55, Olathe, Kansas, pleaded guilty to conspiring to make false statements on a loan application while he was working as a senior vice president of a bank in Overland Park, Kansas.
Gari-Mark Thomas, 38, formerly of Norwalk, Connecticut, was sentenced by U.S. District Judge Vanessa L. Bryant to 12 months and one day of imprisonment, followed by three years of supervised release, for conspiring to defraud the Federal Housing Authority through a mortgage fraud scheme.
Christopher Shawn Linton, 35, Alabaster, Alabama, was sentenced to five years and 11 months in prison for his role in an investment fraud scheme through which he submitted a fraudulent loan application to Iberia Bank for a $908,650 loan, and took more than $2.8 million from 12 investors spending the funds on a lavish home, private jets, championship football trips and island vacations.
Thomas W. Dickson, 53, Boulder, Colorado, has been sentenced for stealing over $300,000 from his law firm’s clients. The defendant was retained by Tenants in Common and after encouraging them to deposit rental proceeds into his trust account, he transferred the funds to his persona checking account
A six-count indictment was unsealed in federal court charging six people with bank and wire fraud concerning their alleged participation in a scheme to defraud lenders using fraudulent loan applications, falsified HUD-1 Settlement Statements and inflated appraisals.
Erlanda Naranjo, 39, Nashville, Tennessee, was charged by Information with bank fraud for allegedly submitting a false application for a line of credit in the name of a relative.
Ronnie Singleton, 41, Lithonia, Georgia, a business owner who held himself out to be an investor and loan broker, admitted his role in defrauding real estate investors of more than $800,000.
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David Higgs, a former Managing Director in the Investment Banking Division of Credit Suisse Group, was sentenced to time served in connection with a scheme to hide more than $100 million in losses in a mortgage-backed securities trading book at Credit Suisse.