Steven Essig, Syracuse, New York, a licensed appraiser and the owner of an appraisal company in Syracuse, pleaded guilty to a felony charge stemming from making false entries in an appraisal report. The falsified report was used to obtain a mortgage as part of a million dollar mortgage fraud scheme.
Ardonus “Donna” Perkins, 40, Atlanta, Georgia, the former Assistant Vice President of Risk Management of the Credit Union of Georgia, has pleaded guilty to a charge of mail fraud for causing the credit union to disburse over $300,000 in fraudulent loans.
William North, 55, Bryn Mawr, Pennsylvania, the former Chief Credit Officer and Kevyn Rakowski, 61, Lakewood Ranch, Florida, the former Controller of Wilmington Trust were indicted for their respective roles in making false statements to agencies of the United States government. The charges stem from North’s and Rakowski’s involvement in concealing from the market and the Federal Reserve the total quantity of past due loans on the bank’s books during October and November 2009.
Michael Barnett, Robert Lees and Kevin Dicello have been indicted and charged with conspiracy, fraud, and false statement charges in connection with the development of Vineyard Commons, a luxury residential complex in Ulster County, New York.
Stephen Mayer, 51, Miami, Florida, was sentenced by U.S. District Judge Susan C. Bucklew to 11 years and 3 months in federal prison for his role in a real estate flipping and equity skimming conspiracy. The Court also ordered him to pay more than $3.1 million in restitution to the affected lenders, and more than $4 million in forfeiture, which were proceeds traceable to the scheme.
After a 12–day trial, a federal jury found six defendants guilty of all counts of wire fraud in connection with a $5 million mortgage fraud scheme.
Lending Hands of Idaho, Inc., a bogus online lender, appears to have pirated website information from a legitimate Michigan-based company named Lending Hands of Michigan, Inc. raising a warning flag to consumers who may be searching for loans online.
Luis R. Valladares, 52, Hanover, Maryland, pleaded guilty to mail fraud, admitting that his fraud schemes resulted in total losses of approximately $779,277. Valladares applied for and obtained mortgages from lenders using false and forged documents. Continue Reading…
Shawn Davis, 44, Huntersville, North Carolina. and Darren Eugene Littles, 47, Charlotte, North Carolina, were sentenced to prison by U.S. District Judge Robert J. Conrad, Jr. for their role in a scheme involving more than $1 million in fraudulent loans.
David Williams, 54, Studio City, California, a licensed securities dealer and investment adviser, as well as the former president and CEO of Sherman Oaks, California-based Morgan Peabody, Inc. brokerage and investment firm has pleaded guilty to federal wire fraud charges stemming from a real estate investment scam that resulted in about five dozen investors losing nearly $4 million.