Mortgage Fraud Blog | Mortgage Fraud and Real Estate Fraud

FFIEC Issues 2009 Mortgage Fraud White Paper

admin — March 1, 2010 — Leave a comment

The Detection and Deterrence of Mortgage Fraud Against Financial Institutions

The Federal Financial Institutions Examination Council (FFIEC), on behalf of its members, released an updated edition of its white paper on mortgage fraud detection and deterrence. The primary objective is to help examiners understand, identify, and detect mortgage fraud schemes and elements. The white paper defines various types of fraud, gives examples of how individuals commit fraud, provides a list of red

In Mortgage Fraud

Former Appraiser Sentenced in Mortgage Fraud Scheme

admin — February 26, 2010 — Leave a comment

Barry C. Westergom, 60, Jacksonville, Florida, has been sentenced to four years in federal prison for conspiracy to commit wire and bank fraud. The court also ordered restitution in the amount of $866,141.62 and entered a money judgment for $100,000, the amount that Westergom had obtained from the fraud. Westergom had Continue Reading...

In Mortgage Fraud Appraisal Fraud, Appraiser, Florida, Mortgage Fraudsters

Montana Lawyer Charged for Accepting Mortgage Payments but Failing to Pay Lender

Allison Tussey — February 26, 2010 — Leave a comment

Marvin Earl “Toby” Alback, 62, Billings, Montana, was arraigned and pled guilty to wire fraud and bankruptcy fraud. A sentencing date will be set later. He is currently released on special conditions.

In an Offer of Proof filed by Assistant U.S. Attorney Ryan M. Archer, the government stated it would have proved at trial the following:

Alback is an attorney in

In Mortgage Fraud Montana, Mortgage Fraudsters, Ringleader

Task Force to Host Mortgage Fraud Summit in Miami, Florida

admin — February 24, 2010 — Leave a comment

Representatives of the Financial Fraud Enforcement Task Force will meet in the first of a series of Mortgage Fraud Summits on WEDNESDAY, FEBRUARY 24, 2010 in Miami. President Barack Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and

In Mortgage Fraud

Father & Son Plead Guilty to Mortgage Fraud

admin — February 23, 2010 — Leave a comment

Gerald Wayne Snow, Sr., a/k/a Gerald Snow, 68, Broken Arrow, Oklahoma, has pled guilty to Conspiracy to Commit Wire Fraud, in violation of Title 18, United States Code, Section 1349 and five counts of Wire Fraud, in violation of Title 18, United States Code, Section 1343. The Superseding Indictment also contained a criminal forfeiture of $4,878,743.87.

Charges arose from an investigation by the Federal Bureau of

In Mortgage Fraud Income/Asset, Mortgage Fraudsters, Oklahoma, Ringleader

Million Dollar Judgment Obtained for Real Estate Fraud

admin — February 22, 2010 — Leave a comment

Jeremiah Yancy, Idaho, has had a default judgement placed on him for violating provisions of the Idaho Uniform Securities Act, the Idaho Commodity Code and the Idaho Residential Mortgage Practices Act between 2006 and 2009. The findings were based on a 40-page complaint filed by the Department in July 2009. Yancy was permanently enjoined by the Court from engaging in future violations.

In Mortgage Fraud Idaho, Investment Scams, Mortgage Fraudsters, Ringleader

FinCEN Issues Mortgage Loan Fraud Update

admin — February 19, 2010 — Leave a comment

The Financial Crimes Enforcement Network (FinCEN) released a new analysis of suspicious activity related to possible mortgage loan fraud reported in the third quarter of 2009. The report also discusses the types of suspected fraud occurring in the foreclosure rescue area as a result of FinCEN issuing a “red flags” guidance on foreclosure rescue scams in April 2009.

The analysis found that suspicious activity reports (SARs) indicating suspicious activity by loan modification or

In Mortgage Fraud Income/Asset

5 Sentenced in Foreclosure Bail Out Scam

admin — February 19, 2010 — Leave a comment

Martha Rodriguez, 38, Downey, California, orchestrated a real estate fraud scheme that caused nearly $13 million in losses after falsely promising to help homeowners in default on their mortgages has been sentenced to 10 years in federal prison. Rodriguez who pleaded guilty to mail fraud and

In Mortgage Fraud California, Foreclosure Rescue, Mortgage Fraudsters, Ringleader

Man Pleads Guilty to Real Estate Ponzi Scheme

admin — February 18, 2010 — Leave a comment

Jon Weldon James, 33, Long Beach, California, who operated a number of ventures that he used to solicit money with false claims of profitable investments in real estate has pleaded guilty to a federal wire fraud charge. James pleaded guilty to the federal offense related to his Ponzi scheme that collected more than $33 million from his El

Continue Reading...

In Mortgage Fraud California, Investment Scams, Mortgage Fraudsters, Ringleader

Conviction Obtained in $18M Mortgage Fraud Case

admin — February 18, 2010 — Leave a comment

Eliyahu Ezagui, 49, a real estate developer in the Crown Heights neighborhood of Brooklyn, New York, has been found guilty of conspiracy to commit bank and wire fraud, and five counts of bank fraud.

According to evidence presented at the trial, and as previously reported on Mortgage Fraud Blog, Continue Reading...

In Mortgage Fraud Investment Scams, Mortgage Fraudsters, New York, Ringleader

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Legal Disclaimer. The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about mortgage banking, mortgage fraud matters or who believe they require legal counsel should seek the advice of an attorney. The creators, editors and sponsors of Mortgage Fraud Blog do not intend to create a confidential relationship or an attorney-client relationship by communication via or arising from this site.