Thomas Yu, 51, San Ramon, California, was convicted of Conspiracy to Commit False Bank Entries, Reports, and Transactions by pleading guilty to Count Six of the pending Superseding Indictment in this case. By failing to properly report poor performing loans, Yu admitted that he helped the bank avoid required loan loss reserves that enabled the bank to artificially inflate its reported earnings to the public.
Chaval Williams, 53, Centennial, Colorado, was sentenced by U.S. District Court Judge William J. Martinez to serve 74 months in federal prison for wire fraud, identity theft and money laundering federal authorities for devising a scheme to defraud real estate lenders, particularly by fraudulently securing real estate financing for the purchase of properties, typically through the use of nominee home buyers.
Nancy Wolf-Fels, 57, Toms River, New Jersey; Dwayne Onque, 46, Belleville, New Jersey; and Mashon Onque, 43, East Orange, New Jersey, were convicted by a federal jury of conspiring to defraud financial institutions as part of a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos.
Thomas Richard Jager, 66, Bettendorf, Iowa, was sentenced by United States Chief District Court Judge James E. Gritzner to 97 months imprisonment, after pleading guilty to four counts of wire fraud for failing to forward monthly remittance payments to investors, providing false reports, failing to distribute lump sum payoffs of mortgages to investors, and transferring money held in escrow to his personal bank account..
Joel Wilson, 31, Saginaw, Michigan, who was extradited from Germany after being on the lam in Europe for more than a year, will proceed to trial for his alleged role in an extensive real estate Ponzi scheme. Wilson allegedly defrauded investors by telling them he would use their funds to purchase distressed properties, then sell them at a profit.
Charles Lightbody, 54, Revere, Massachusetts, Dustin DeNunzio, 37, Cambridge, Massachusetts, and Anthony Gattineri, 56, Winchester, Massachusetts, have been indicted on state and federal charges in connection with their efforts to hide the financial interest of a convicted felon in a parcel of land in Everett, Massachusetts.
Jose Christian Delgado, 39, Las Vegas, Nevada, was arrested in connection with his involvement in a mortgage lending fraud scheme involving five known victims.
Gernot Sebastian Zepernick, Concord, 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.
Hometown Lenders, LLC, NMLS No. 65084, Huntsville, Alabama, and its owners, William E. Taylor, Jr., William E. Taylor, Sr. and Byron Heath Quick entered into a consent order with the Georgia Department of Banking & Finance to resolve allegations that they employed two felons and transacted business with an unlicensed mortgage processing company.
Anthony Keslinke was charge by superseding indictment in a scheme involving short sale mortgage fraud. The defendant allegedly used straw buyers to purchase real estate throughout Northern California.