Alex Schleider, 49, Lakewood, New Jersey, man was sentenced to one year and one day in prison for his part in a real estate investment fraud scheme that defrauded real estate investors of more than $1 million by persuading them to fund the purported purchase of an apartment complex, Belle Glade Gardens.
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Barry J. Graham, 59, and Ricky Lynn Stokes, 54, both of Ft. Myers, Florida, pled guilty to conspiracy to commit bank fraud, in violation of Title 18, United States Code, Section 371, before U.S. Magistrate Judge Lurana S. Snow in Key West. The charges stem from the defendants’ participation in a $300 million Ponzi scheme involving the sale of vacation rental units to approximately 1,400 investors in the Florida Keys and elsewhere.
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.
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…
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.
Michael “Sean” Davis, 43, Crestview, Florida, has been indicted by a federal grand jury and charged with nine felony counts for allegedly orchestrating short sales from Bank of America by causing the submission of false documents in real estate closings.
Sixteen people have been charged for operating a fraudulent telemarketing scheme that involved losses of over $20 million to more 290 victims in 46 states and Canada, including Michigan.
A federal grand jury in San Francisco returned three multi-count indictments against eleven real estate investors for their role in bid rigging and fraud schemes at foreclosure auctions in Northern California.
John Struna, 52, Concord Township, Ohio, pleaded guilty to defrauding Taupa Lithuanian Credit Union. The defendant received $112,105 from a bank co-conspirator for the purchase of a condominium located in Ft. Myers, Florida, but at no time did Struna submit any credit applications or loan documents.
Scott Edward Cavell, 31, Sacramento, was sentenced by United States District Judge John A. Mendez to five years in prison and ordered to pay $7.4 million in restitution for committing wire fraud in connection with laundering mortgage fraud proceeds.