Kenneth Sandoval, 36, Dearborn, Michigan, owner of Nationwide Consulting, was sentenced to up to 20 years in prison after being convicted of one count of Conducting a Criminal Enterprise, a felony punishable by 20 years in prison, and two counts of Larceny by Conversion, $20,000 or more, a felony punishable by up to 10 years in prison. Sandoval defrauded approximately 84 victims out of $914,151.
Gary Alan Rickenbach, 56, Little Rock, Arkansas, has been indicted and charged with one count of conspiracy to commit bank fraud, misapplication of bank monies, making false entries to deceive the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, obstructing an OCC examination and money laundering.
Christian Sanchez, 47, Rogers, Arkansas, was sentenced to 18 months in federal prison, three years of supervised release, and a $2500 fine for making False Statements to a Financial Institution relating to a mortgage loan application.
Jay Fischer was found guilty by Marathon County, Wisconsin, Judge Gregory Huber of a million dollar mortgage fraud scheme wherein he failed to pay off prior mortgages, resulting in dual active mortgages on homes.
Richard Stromberg, 49, Wells Drive, Bethel Park, Pennsylvania, has been indicted by a federal grand jury in Pittsburgh on a charge of bank and wire fraud conspiracy involving the submission to lenders of loan applications that contained material misrepresentations about the borrower’s financial condition.
Jeong Joon Moon, a/k/a Patrick Moon, 46, Germantown, Maryland, has been indicted on charges arising from a scheme to defraud financial institutions.
Ronald Russell was sentenced to 13 years and 4 months in state prison for running a rent-to-own real estate Ponzi scheme. Russell was also ordered to surrender his real estate license issued by the California Bureau of Real Estate.
James Fidel Sotolongo, 48, Port Orange, Florida, was found guilty of one count of conspiracy and eleven counts of bank fraud for running a scheme to obtain properties with no money down and no money at closings, rent them out, and then sell the properties for a profit.
Furman Otis Clark, Jr., 65, Fernandina Beach, Florida, was sentenced on April 24, 2014, to 20 years in prison for his role in a fraudulent land development scheme wherein he used investor monies for personal expenses and not for land or real estate development
Manuel Herrera, 34, Sacramento, California, a licensed real estate agent, pleaded guilty to conspiring to commit wire fraud in connection with a mortgage fraud scheme wherein the defendant and his conspirators conspired to obtain home loans from mortgage lenders based upon false and fraudulent loan applications.