Jason Vitulano, 39, Boca Raton, Florida, was sentenced by U.S. District Judge Kenneth Marra to 132 months in prison, to be followed by three years of supervised release, for operating boiler rooms that collected advance fees from distressed homeowners purportedly in exchange for obtaining loan modifications for the homeowners.
Craig S. On, 62, Berkeley, California, pleaded guilty to one count of Conspiracy to Make a Materially False and Misleading Statement to an Accountant. On admitted that he did not inform auditors about approximately $67 million in potential losses from the sale of loans held by the bank.
Martin E. Schmidt, Jr., 57, Beecher, Illinois, and Donna M. Barber, 53, also of Beecher, have pleaded guilty to federal charges for fraudulently creating false reports that made it appear that the bank’s loan portfolio was in better shape than it actually was.
John Lee Norris, 43, and Julie Tina Hatcher, 39, both of Kansas City, Missouri, owners and operators of a firm that promised to help financially-strapped homeowners and clients get out of debt and foreclosure, were sentenced in federal court for defrauding 81 clients, lenders and the government of more than $1 million.
Mae Rabuffo, 75, New York, Raymond E. “Ray” Olivier, 53, Land O’ Lakes, Florida, and Curtis Allen Davis, 52, Tampa, Florida, the final three individuals involved in the $49.6 million Hampton Springs, North Carolina, mortgage fraud scheme, have been sentenced. Continue Reading…
Christian Peterson, 45, Madison, Wisconsin, was sentenced by U.S. District Court Judge Barbara B. Crabb to seven years in federal prison following his convictions for bank fraud, money laundering, and making false statements to banks. Peterson was previously convicted of lying about the purpose of a $1.1 million loan for real estate development.
Octavio Lombardo, a/k/a Otto Lombardo, 67, was arrested on wire fraud charges stemming from his advance fee loan scheme, which allegedly defrauded victims of more than $1 million.
Stephen J. Cormier, 42, Nokomis, Florida, the sole owner of a title insurance company, was sentenced by Senior U.S. District Judge Susan C. Bucklew to three years and five months in federal prison for his role in a conspiracy to commit wire fraud. As part of his sentence, the Court also entered a money judgment in the amount of $4.7 million, the proceeds of the fraudulent scheme.
Garry Wan, Concord, California, a Northern California real estate investor, has agreed to plead guilty for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California.
Irfan M. Jameel, 52, Virginia Beach, Virginia, was sentenced to 108 months in prison, followed by five years of supervised release, for committing wire fraud, bank fraud, and using of a false social security number.