Jeffrey Gonsiewski, 56, Wood Dale, Illinois, a former suburban bank vice president pleaded guilty to federal fraud charges, admitting that he changed the terms of at least 100 loans for at least 50 customers and caused the bank to lose at least $5.5 million. Gonesiewski, formerly vice president of the loan department at First Security
Continue Reading...Aaron V. Hernandez, 41, McLean, Virginia, was sentenced to 63 months in prison, followed by four years of supervised release, for running a mortgage fraud scheme that caused more than $4.5 million in losses. Hernandez was ordered to pay more than $4.5 million in restitution and was ordered to forfeit approximately $2.4 million.
On May 21, 2010, Continue Reading...
Olusola Idowu, 57, Hagerstown, Maryland, was sentenced by U.S. District Judge Marvin J. Garbis to 46 months in prison, followed by three years of supervised release, for wire fraud, bankruptcy fraud, making false statements in a bankruptcy proceeding, filing a false tax return and failing to file a corporate tax return. Judge Garbis also entered an order requiring Idowu to pay restitution of $425,000.
Mark Alan Abrams, 49, Los Angeles, California, a former mortgage broker who helped orchestrate a massive mortgage fraud scheme that caused well over $40 million in losses, was sentenced to 78 months in federal prison.
Abrams was sentenced by United States District Judge Dean D. Pregerson. In addition to the prison term, Judge Pregerson ordered Continue Reading...
Allen Seymour, 42, Oxford, Massachusetts, was arraigned in Worcester Superior Court for his role in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in numerous real estate transactions involving distressed properties in the Worcester County, Massachusetts area.
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John Hemphill, 40, Chicago, Illinois, was convicted of federal charges for posing as a federal government official in a scheme to sell properties he did not own out from underneath the real owners. The defendant was found guilty of mail fraud and false impersonation of a federal official following a week-long trial in U.S. District Court.
According to the evidence at trial, since 2008,
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Following concerted efforts to prevent unnecessary foreclosures, the Washington Attorney General’s Office and a group of other state attorneys general and banking regulators say they’ve seen improvements in programs designed to help homeowners. But they’re concerned that foreclosures continue to outpace loan modifications, and note that most modifications increase the loan balance.
According to a report issued by the State Foreclosure Prevention Working Group, a multi-state
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Apply 2 Save, a bankrupt Coeur d’Alene, Idaho, mortgage modification company that allegedly defrauded hundreds of consumers nationwide is prohibited from ever operating a similar business in Idaho. Derek Oberholtzer, owner of Apply 2 Save, entered a settlement agreement that prevents Continue Reading...
Jonathan Bolar, 48, New Orleans, Louisiana, was sentenced to 17 years (204 months) in federal court by U. S. District Judge Lance M. Africk for extortion, wire fraud, structuring and tax violations. The jury convicted Bolar of 2 counts of wire fraud stemming from two incidents in which Bolar purported to sell a
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Two indictments of 13 Oahu residents and one from the state of Washington on mortgage fraud related charges were unsealed with the arrests of 10 of the 14 defendants. A federal grand jury had returned the indictments on August 11, 2010, but they had remained sealed. One indictment charged 10 defendants in 56 counts of conspiracy, wire fraud, and false statements on loan applications, while the other named four defendants in 33 counts of the same nature. The 14 named defendants
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