James Cockinos, 58, Englewood Cliffs, New Jersey, a former mortgage broker and bank officer, was sentenced to 12 months in prison for his role in conspiring to commit bank fraud in order to secure a $1.48 million residential real estate loan.
Alpha Rashidi Mshihiri, 38, Maple Plain, Minnesota, was indicted on charges of conspiring to defraud mortgage lenders.
Gabriel Serrano, 47, West Hartford, Connecticut, waived his right to indictment and pleaded guilty before United States Magistrate Judge Donna F. Martinez in Hartford to conspiracy charges stemming from his role in an extensive mortgage fraud scheme. Serrano, an attorney, is a partner in the law firm of Serrano & Serrano, LLC.
Patrick J. Mansell, 68, Boca Raton, Florida, Vice President of Coastal States Mortgage Corporation, pled guilty to conspiracy to commit wire fraud to defraud government sponsored entities, Fannie Mae and Freddie Mac.
Glen Alan Ward, 48, a fraud artist who was a fugitive from justice for over a decade, was sentenced to 11 years in federal prison for running a nearly 15-year foreclosure-rescue scam that fraudulently delayed foreclosure sales for more than 800 distressed homeowners.
Starting September 1, 2013, the Idaho Department of Finance will begin using the Nationwide Mortgage Licensing System (NMLS) to manage consumer finance company, payday lender and collection agency licenses on a voluntary basis. Mortgage licensees have been on NMLS since 2008 and money transmitters since 2012. The department now has 3,027 licensees using NMLS.
Seung E. Oh, a/k/a Sandy Oh, 44, Great Falls, Virginia, was sentenced by U.S. District Judge William D. Quarles, Jr. to 51 months in prison, followed by three years of supervised release, for conspiracy to commit bank fraud and money laundering in connection with a scheme to fraudulently obtain loans with resulting losses of over $100 million.
Jose “Joe” Bautista Garcia, 46, Camarillo, California, a real estate broker, Lucy Ann Garcia, Jose Garcia’s wife, 46, Camarillo, Jose Fernando Murguia, 47, Oxnard, a loan officer, Sesilia Garcia, one of Jose Garcia’s sisters, 30, Oxnard, California, a loan officer, Lili Ayala Hernandez, 41, Oxnard, a loan officer, Lidubina “Lido” Mendoza Perez, 41, Moreno Valley, California, a loan officer, Gregg Scott Quinn, 40, Camarillo, a loan officer, and Cesar Rodriguez Azamar, 36, Santa Paula, an employee at NCHL, have each been indicted for their roles in a mortgage fraud scheme.
Freddy Centeno, Brownsville, Texas, has been arrested following the return of two-count indictment alleging money laundering for a convicted drug trafficker and making false statements to federal agents.
Steven Pitchersky, 64, Rancho Mirage, California, was charged by information with one count of wire fraud. Pitchersky, who operated Nationwide Mortgage Concepts, a California mortgage lender, is accused of engaging in a scheme to defraud Ally Bank that caused the bank a loss of approximately $5.3 million.