CAMDEN, NJ—A second New Jersey man today admitted to his role in a $40.8 million mortgage fraud conspiracy, serving as a straw buyer to cause a lender to release almost $980000 based o
Continue Reading...Richard Pilewicz, 54, Scottsdale, Arizona, an unlicensed real estate agent, pleaded guilty to federal bribery charges for offering to pay thousands of dollars to an individual he believed was a Bank of America employee in exchange for shortened approval times and lower appraisal values in short-sale transactions.
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A total of 47 houses in McKinney and surrounding cities are involved in a mortgage scam. A federal mortgage scheme that netted 40 indictments used homes to fraudulently obtain money from lenders, including seve
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Michael R. Rouse, 56, formerly of Wellington, Florida, was sentenced, in absentia, by U.S. District Judge Barbara M G. Lynn to 210 months in federal prison and ordered to pay $1.9 million in restitution to the 62 identified victims of his crime.
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Probe continues on Cloud 9 Sky Flats fraud, but US attorney’s office won’t say whether developer Jerry Trooien is a target. The Cloud 9 Sky Flats building off Smetana drive in Minnetonka. A deepening mortgage f
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A former mortgage broker and the owner of a defunct manufactured housing dealership in Conway pleaded guilty to felony mortgage fraud charges today in federal court in Florence. Michael Fortenberry, the mortgag
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The sledgehammer we have been taking to the housing market to prevent mortgage fraud needs to be replaced with a scalpel because the former approach is depressing the recovery of the housing market. First, in c
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Darin Lee McAllister, 44, Brentwood, Tennessee, a Former FBI Special Agent, was sentenced in U.S. District Court in Nashville, to 48 months in prison for his December 2010, convictions on wire fraud and bankruptcy fraud. He devised a scheme to defraud SunTrust Mortgage Co., Inc., in connection with the purchase of rental properties totaling $1.25 million in May and July 2006.
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An Edina mortgage broker was charged Friday for his role in a $20 million mortgage fraud scheme that involved 57 properties. Derrick Lance, 40 years old, was charged in federal court with one count of conspirac
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The checks totaled approximately $442089 and represented a portion of the illicit proceeds obtained through the mortgage fraud scheme. On one occasion, Isgar wired approximately $81000 back to Vincent Aldridge&
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