Bonnie Kathleen Kreamer, a/k/a Bonnie Meehan, 49, Riva, Maryland, was sentenced by U.S. District Judge James K. Bredar to 51 months in prison, followed by three years of supervised release, for conspiring to commit wire fraud in connection with a mortgage fraud scheme which resulted in losses of over $4.8 million. The defendant and her co-conspirators used many fraudulent techniques to further the conspiracy, including short sales in which the property was sold for a higher price than was represented to the lien holder and the seller.
Brian Kelly, 37, Forest Hill, Maryland man was sentenced to serve one year and a day in federal prison for defrauding thousands of homeowners in a $4 million nationwide home loan modification scheme wherein Kelly promised homeowners a guaranteed loan modification in exchange for $400-$2,000 in upfront costs.
Harold L. Gruber, 60, an attorney, and his law firm, Harold L. Gruber, P.C., Brooklyn, New York, have entered into a settlement to resolve allegations of submitting at least nine fraudulent filings to the Attorney General’s Real Estate Finance Bureau and breaching his fiduciary duties as an escrow agent.
Marcus Payne, 44, Memphis, Tennessee, and Booker Smith, 30, Memphis, Tennessee, were indicted by a federal grand jury on April 16, 2014 on seven counts related to a mortgage fraud and identity theft scheme.
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Delio Coutinho, 71, Colonia, New Jersey, admitted his role in a large-scale mortgage fraud scheme that caused millions of dollars in losses. The defendant conspired with others to release liens on encumbered properties via fraudulently arranged short sale transactions.
Rodney Watts, 42, Bronxville, New York, the former chief investment officer of GDC Acquisitions LLC (GDC), was sentenced in federal court in Brooklyn, New York, to 37 months in prison, to be followed by five years of supervised release. The charges against the defendant arose out of a scheme to defraud Amalgamated Bank, GDC’s asset-based lender, of $21 million in fraudulent loans.
Patrick J. Belzner, a/k/a Patrick McCloskey, 45, Glen Arm, Maryland, pleaded guilty to a wire fraud conspiracy, wire fraud and tax evasion. Belzer admitted advising wealthy individuals and investment advisers that in order for the McCloskey Group to obtain loans for real estate projects, the loan broker required large sums of money be deposited in an escrow bank account to show liquidity. However, the investors’ funds were removed soon after being deposited and the stolen funds to pay for their personal and business expenses, as well as to make partial repayments to earlier lenders.
Johnny Eugene Grivette Jr., 39, Magalia, California, was sentenced by United States District Court Judge John A. Mendez to four and a half years in prison for his participation in a mortgage fraud scheme involving straw buyers and the payment of commissions to appraisers who would artificially inflate values.
Julie Dianne Farmer, 45, Bakersfield, California, was convicted by a federal jury finding her guilty of conspiracy to commit mail fraud, wire fraud and bank fraud, and two counts each of mail fraud and wire fraud. The charges stem from her involvement in an extensive straw buyer scheme that ran from January 2004 to September 2007.
Nsane Phanuel Ligate, 42, Ashburn, Virginia, a real estate agent, pleaded guilty to conspiring to commit wire fraud in connection with a mortgage scheme involving the purchase of two properties located on North Patterson Park Avenue, Baltimore, Maryland. Co-defendant Cane Mwihava, 43, Bowie, Maryland, pleaded guilty to the same offense.