John Allen, Laguna Hills, California, a mortgage loan processor based in was sentenced to one year in custody by U.S. District Court Judge John A. Houston for his participation in an investment and mortgage loan fraud scheme that generated nearly $15 million in kickbacks.
Adel Afkarian and Atef Afkarian each entered a guilty plea in federal court in San Diego, California, in connection with a fraud scheme involving sales of million-dollar homes in San Diego and Del Mar, California.
Mary Armstrong, the mastermind of a $100 million mortgage fraud that generated almost $15 million in illegal kickbacks, was sentenced to 100 months in prison by U.S. District Judge John A. Houston.
Steve Kessedjian, 50, Los Angeles, California, pleaded guilty to mail fraud in connection with his scheme to defraud client escrow funds.
Michelle Martinez, 49, Brick, New Jersey, loan officer, and Dana Rummerfield, 47, Los Angeles, California, straw purchaser, admitted they conspired to defraud financial institutions as part of a multi-million-dollar mortgage fraud scam to make illegal profits on over-developed condominiums in the Wildwood, New Jersey area. Continue Reading…
Adorean Boleancu, 47, Napa, California, pleaded guilty in federal court in San Francisco on September 13, 2013, to one count of wire fraud.
Theresa Marcianti, 60, Las Vegas, Nevada, a real estate escrow officer, was convicted of conspiracy and fraud charges for her involvement in a mortgage fraud scheme that caused millions of dollars in losses to the lenders and financial institutions.
Six individuals, including three mortgage brokers and a real estate agent, have agreed to pay civil penalties ranging from $5,000 to $85,000 to the United States to resolve civil fraud allegations stemming from false statements they made on mortgage loan applications.
Ten defendants, including five licensed loan originators, were indicted for allegedly participating in a scheme to fraudulently obtain approximately 52 residential mortgage loans totaling at least $14.5 million from various lenders.