Federal Trade Commission Chairman Jon Leibowitz, joined by U.S. Senator Harry Reid, Nevada Attorney General Catherine Cortez Masto, and Assistant Attorney General Tony West of the Civil Division of the U.S. Department of Justice, announced Operation Stolen Hope as part of a continuing federal-state crackdown on mortgage foreclosure rescue and loan modification scams. The operation involves 118 actions by 26 federal and state agencies.
Continue Reading...Federal indictments handed down this month accusing former Bend-based developers of operating two real estate schemes document a history of alleged mortgage fraud that, if proven, could land the company’s executives in prison for decades.
This week, those of us involved in the fight against mortgage fraud lost a good friend and a fierce ally.
Cheryl Howe, a true pioneer in the fields of mortgage fraud and mortgage quality control, lost her long fight with cancer. She passed away peacefully on November 25, 2009, surrounded by her family.
Cheryl was a force to be reckoned with .. a mentor to so many of us .. and a treasured friend .. She will be sorely missed ..
Services will be held
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Godwin Asifo, 55, Woodbridge, Virginia, was sentenced to 57 months in prison, followed by three years of supervised release, for running a mortgage fraud scheme that resulted in the foreclosure of at least three homes in northern Virginia. He was also ordered to pay $546,685.20 in restitution.
Kevin M. O’Connell, 35, Albany, New York pled guilty to a one-count information charging him with the felony offense of laundering of monetary instruments in violation of Title 18, United States Code, Section 1956(a)(1)(A)(i), in connection with his role in an extensive mortgage fraud scheme that defrauded financial institutions and other mortgage lenders of over $5.3 million in loans.
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Mark Strodtman, 52, Windsor, Coloarado, was found guilty of 23 criminal counts including, COCCA – Pattern of Racketeering (a class two felony; punishable by up to 48 years in prison if aggravating circumstances are met), Theft $15,000 or more 11 counts (a class three felony; punishable by up to 24 years in prison per count). Forgery – check / commercial instrument 11 counts (a class five felony; punishable by up to 6
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William Arthur Sassman II, 41, Sacramento, California, who “looted” the life savings of dozens of investors to bankroll his lavish lifestyle and prop up a multi-million dollar real estate and business Ponzi scheme, has been arrested.
Sassman was arrested at his residence on a total of 100 counts: 43 counts of grand theft, 40 counts of misrepresentation or omission in
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Benjamin Serrano, 47, formerly of Parker, Colorado, the former director of sales for a Colorado real estate company that built luxury homes throughout the state agreed in court papers to plead guilty to a federal conspiracy charge, admitting that he and other company officials participated in a $16 million “builder bailout” scheme in which buyers of $1 million-plus homes were paid kickbacks if they purchased homes from the
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Brian K. Jackson, 38, Anaheim, California, was indicted by the Federal Grand Jury in Las Vegas on October 21, 2009, and charged with Conspiracy to Commit Bank Fraud, Mail Fraud, and Wire Fraud. Jackson was arrested in the Los Angeles area, and appeared before a U.S. Magistrate Judge there and was released on a $50,000 surety bond. Jackson
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The State Bar of California has taken action against 5 more lawyers under investigation for loan modification misconduct, bringing to 14 the number of attorneys who have resigned or been placed on involuntary inactive enrollment since creation of the bar’s Loan Modification Task Force in April 2009.
Timothy Thurman [Bar #216048], 37, Altadena, California, resigned on November 2, 2009, with charges pending following
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