Linda Sue Newcomb, 62, Madison Heights, Virginia, former manager of the Lynrocten Federal Credit Union, Lynchburg, Virginia, was indicted by a federal grand jury and charged with embezzlement, bank fraud and aggravated identity theft charges for allegedly originating fictitious loans, then selling those loans to credit union partners.
Joseph Gekko, 45, Yorba Linda, California, pleaded guilty to three counts of wire fraud in connection with a mortgage fraud scheme. Gekko admitted that he had prepared fraudulent HUD-1 Settlement Statements, which not only falsified the purchase prices, but the true source of down payments.
Ronald Vernon Cupp, Santa Rosa, California, was convicted by a jury of running a mortgage elimination scheme wherein he charged homeowners up front fees in exchange for allegedly eliminating their mortgage.
Barry Stephen Zornberg, 54, Hauppauge, New York, pleaded guilty at the federal courthouse in Central Islip, New York, to lying to federal investigators about his role in a million-dollar foreclosure rescue fraud scheme. The scheme ensnared at least 10 families, defrauding them of approximately $1.3 million in home equity and caused some of them to lose their homes.
Mokorya Cosmas Wambura, 41, Takoma Park, Maryland, was sentenced by Chief U.S. District Judge Deborah K. Chasanow to five years in prison followed by five years of supervised release for conspiring to commit wire fraud and aggravated identity theft arising from two separate residential mortgage fraud schemes.
David E. Robert, 42, Madison, Wisconsin, was sentenced on June 12, 2014, by U.S. District Judge Barbara B. Crabb to six months in federal prison, a $1,000 fine, and two years of supervised release for his role in a mortgage fraud scheme wherein he used a falsified tax documents to obtain a first and second mortgage.
Asm Afsary, 41, Stamford, Connecticut, waived his right to indictment and pleaded guilty before Chief U.S. District Judge Janet C. Hall to conspiring to defraud financial institutions through an extensive mortgage fraud scheme that involved dozens of properties in Fairfield County, Connecticut.
Ralph Pecorale, Long Island, New York, a real estate lawyer, has been cleared of mortgage fraud charges after a Brooklyn, New York, Supreme Court judge dismissed an 18-count indictment against him, though the charges against the six other defendants remained in place.
Marvin Solis, 30, Richmond, California, was sentenced on June 11, 2014, to 27 months in prison and ordered to pay restitution for a real estate investment fraud scheme he perpetrated against his relatives.
Rosa Fernandez, 38, Camarillo, California, was sentenced by United States District Court Judge John A. Kronstadt to 97 months in federal prison for her involvement in a mortgage fraud scheme. Fernandez defrauded banks by falsifying loan applications and using bogus tax letters to vouch for borrowers.