Isaac Jerome Smith, 48, Spotsylvania, Virginia; and Alvita Karen Gunn, 33, Hanover, Maryland, were sentenced by U.S. District Judge Roger W. Titus to 70 months and 60 months in prison, each followed by three years of supervised release, respectively, for a fraud conspiracy, wire fraud and conspiracy to commit money laundering in connection with their
Continue Reading...Robert E. Maloney, Jr., 47, McDonough, Georgia, was arraigned on federal charges before United States Magistrate Judge Janet F. King. A superseding indictment charges Maloney and two former top officers of “FirstCity Bank,” Stockbridge, Georgia: Mark A. Conner, 45,
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Joseph Bowen Brown, 30, pleaded guilty in federal court conspiracy to commit wire fraud in a mortgage fraud scheme based in Phoenix, Arizona. Five others have entered guilty pleas in the same scheme and are awaiting sentencing.
As previously reported by Mortgage Fraud Blog, and as confirmed by his guilty plea,Continue Reading...
A New York attorney who is serving a 10-year sentence for mortgage fraud has been disbarred by a state appellate court.
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The Financial Crimes Enforcement Network (FinCEN), in its First Quarter 2011 Mortgage Loan Fraud (MLF) analysis, reported that the number of MLF suspicious activity reports (SARs) rose to 25,485 up 31 percent from 19,420 in the first quarter of 2010. FinCEN attributes the increase to large mortgage lenders conducting additional reviews after receiving demands to repurchase poorly performing mortgage
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Reports of mortgage fraud in the U.S. rose 31% in the first three months of this year as banks scoured their files for shady loans made during the housing boom, according to a government report…
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A federal grand jury returned an eight-count indictment this week charging five individuals relating to their operation of a mortgage fraud conspiracy in the Dallas-Fort Worth, Texas (DFW) area.
Fredrick Lee Moore, 38, Dallas, Texas; Fredrick Barnard Lynch, 39, Desoto, Texas; Continue Reading...
James and Wendy Ober, Hudson, Wisconsin, Raul Burgos Pliego, Farmington, Minnesota, and Alejandro (Alex) Sanchez aka Silverio Alejandro Sanchez Cruz, Bloomington, Minnesota, were charged with racketeering in a
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The defendants swindled others to collect millions of dollars in proceeds from mortgage loans…
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Federal prosecutors are seeking a life sentence for the man convicted of orchestrating a $3-billion fraud while running what had been one of America’s largest private mortgage companies.
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