Annika Boas, 37, Mount Rainier, Maryland, was sentenced by U.S. District Judge George Jerrod Hazel to 27 months in prison followed by five years of supervised release for conspiracy, wire fraud and making a false statement on a loan application arising from a residential mortgage fraud scheme.
Maziar Bordbar, Saeid Yarandi, Pamela Gressier, Nathaniel Ferrer, Roberto Durano, and Joel Valdellon have been charged with running a loan modification scam in Orange County, California, wherein the defendants allegedly promised modifications in exchange for upfront fees.
Thomas Franklin Tarbutton, Orange County, California, an alleged hard money lender, has been charged with running a real estate ponzi scheme, embezzling funds from investors by keeping the money they lent for borrowers and not funding the loans as promised.
GTL Investments, Inc., doing business as John Adams Mortgage Company, Southfield, Michigan, a mortgage lender, has agreed to pay $4.2 million to resolve allegations that it violated the False Claims Act in its origination of loans backed by the federal government.
Joshua Leventhal, 44, Easton, Massachusetts, has pleaded guilty and been sentenced to jail in connection with stealing $112,000 from customers in a “Rent to Own” advance-fee scheme. He was also ordered to make full restitution to his victims.
Consumers are being warned concerning the recent frequency of advance fee loan scams. While advertisements guaranteeing loans can be tempting and the websites associated with these scams often look legitimate, they can be very misleading.
Aaron G. Seltzer, 38, Trappe, Maryland, pleaded guilty to wire fraud in connection with a scheme in which he converted funds intended for real estate investments to his personal use.
David C. Jackson, also known as “C. David Manns,” “Charles Jackson” and “Andrew D. Smithson,” 53, and Alex Hurt, also known as “Alex Dante,” 45, have been indicted and charged with various offenses related to an advance fee loan fraud scheme that defrauded individuals out of several million dollars.
Charles Rock, a Northern California real estate investor, pleaded guilty for his role in bid rigging and fraud at public real estate foreclosure auctions in Northern California.
Golden First Mortgage Corp., and its owner, operator and President, David Movtady, have settled a civil mortgage fraud lawsuit alleging misconduct in connection with Golden First‘s participation in the FHA Direct Endorsement Lender Program.