Michael James Burns, Jr., 51, San Francisco, California, was sentenced by U.S. District Judge Donald W. Molloy to a term of 87 months in prison, a Special Assessment of $100, Restitution in the amount of $445,532.45, and Supervised Release for 3 years. Burns was sentenced in connection with his guilty plea to wire fraud/money laundering.

In an

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Gerald L. Wolfe, 41, Corona del Mar, California, an attorney, has been indicted on charges related to a mortgage fraud scheme in which 30 homes were purchased at inflated prices, with the excess proceeds going to the lawyer and other members of the conspiracy. Wolfe, who was formerly also a registered real estate broker, was named in a one-count indictment by a federal

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Dale Charles Dodge, Jr., 61, Alexandria, Minnesota, was sentenced by United States District Court Judge Joan N. Ericksen in federal court on charges connected to a scheme to defraud mortgage lenders and others out of more than $800,000. Dodge received 34 months in prison on one count of wire fraud and one count of engaging in a monetary transaction with property derived

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Anthony Onua, 44, a Brooklyn, New York lawyer, pleaded guilty to Count 1 of the Indictment admitting his role in a mortgage fraud scheme using straw borrowers and inflated appraisals to defraud lenders. The Court accepted Onua‘s guilty plea and set sentencing for February 4, 2011 at 11:30 AM before Senior Judge I. Leo Glasser.

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Wells Fargo Bank has entered into a settlement that provides loan modifications for residents in Washington and seven other states who obtained problematic mortgages from Wachovia Bank and Golden West Corp., which did business as World Savings Bank.

At least 400 Washington borrowers who received payment option adjustable-rate mortgages will be eligible for loan modifications that will provide more than $29 million in mortgage relief, McKenna said. This sum includes nearly $12 million

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Juan Rangel, 46, Downey, California, has been indicted on a series of fraud charges for allegedly running two related fraud schemes – a Ponzi scheme that took more than $11 million from more than 300 victims, and a mortgage fraud scheme that preyed on homeowners by stealing the equity from their homes and secretly taking title to their properties.

Rangel, who is already in

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Kenneth Perkins, 28, Groton, Connecticut, pleaded guilty before Chief United States District Judge Alvin W. Thompson in Hartford to one count of conspiracy to commit wire fraud stemming from his participation in a mortgage fraud scheme.

According to court documents and statements made in court, Perkins was a participant in a conspiracy to obtain residential real estate

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Bruce Fred Friedman, 60, the owner of a Sherman Oaks, California, company that promised investors healthy returns with claims of a successful business based on the rehabilitation of “scratch and dent” real estate was indicted on federal fraud charges that allege he operated a Ponzi scheme that took in nearly a quarter billion dollars.

Friedman, the operator of

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Tiffany Travis, 28, Myrtle Beach, South Carolina, pled guilty in federal court to bank fraud in violation of 18 U.S.C. § 1344. United States District Judge Terry L. Wooten accepted the plea and will impose sentence after he has reviewed a presentence report prepared by the U.S. Probation Office.

Evidence presented at the change of plea hearing established that Continue Reading...

Thusday, September 30, 2010, concluded the second of two Mortgage Fraud Summits held by representatives of the Financial Fraud Enforcement Task Force. The first summit was in Fresno, California, on September 29, and the second in Los Angeles, California, on September 30. The task force is composed of representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement agencies.

In Fresno, the task force

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