ORLANDO, FL United States Attorney Robert E O’Neill announces that Chief United States District Judge Anne C Conway today sentenced Keith Davis (39, Jacksonville) to two years in federal prison for conspiracy to commit wire fraud. As part of sentence, …BRIEF: Jacksonville Mortgage Broker Has to Repay $1 Million LoanSafeall 2 news articles »
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Source: 7thSpace Interactive (press release)
This investigation was conducted by the recently formed Northwest Florida Mortgage Fraud Task Force, a partnership between the Federal Bureau of Investigation and the Okaloosa County Sheriff’s Office. The case was prosecuted by Assistant United States …
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Source: LoanSafe
Michelle Vinas, 53, Florida, pleaded guilty before U.S. District Court Richard J. Arcara to bank fraud. The charge carries a maximum penalty of 30 years in prison, a $1,000,000 fine, or both.
The defendant was an employee of the Federal Guaranty Mortgage Company in Florida. As an underwriter of mortgages, Vinas‘s responsibilities included reviewing completed loan applications, including supporting documentation, as well as verification of the information included on the applications. Between February 2005 and October 2008, Vinas submitted loan applications to financial institutions, including M&T Bank, knowing that the information she certified as true was inaccurate.
If the defendant had not certified the loan applications, banks would not have funded the mortgages. As a result, M&T Bank sustained losses totaling $4,407,515.48. The total loss to all financial institutions affected by the fraudulent scheme was approximately $24,000,000.
Sentencing is scheduled for April 5, 2012, at 12:30 p.m. EST, in Buffalo, N.Y., before Judge Arcara.
The New York United States Attorney’s Office announced the guilty plea. Assistant U.S. Attorney Trini E. Ross is handling the case.
The plea is the result of an investigation by the Federal Bureau of Investigation under the direction of Special Agent in Charge Christopher M. Piehota as part of the Mortgage Fraud Task Force of WNY which includes agents and personnel from; U.S. Postal Inspection Service under the direction of Inspector in Charge Robert Bethel; the Housing and Urban Development Office of Inspector General under the direction of Acting Special Agent in Charge Steven Perez; the United States Secret Service under the direction of Special Agent in Charge Tracy Gast; and the Internal Revenue Service under the direction of Special Agent in Charge Charles R. Pine. The Mortgage Fraud Task Force of WNY is led by the U.S. Attorney’s Office and also includes Veterans Affairs Office of Inspector General and the U.S. Bankruptcy Trustee.
This law enforcement action is part of President Barack Obama’s Financial Fraud Enforcement Task Force. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes.
Florida retained its top ranking in the nation for mortgage fraud litigation through September as millions of dollars in bad boom-time loans continue to be discovered by law enforcement and lenders. A report released Tuesday by …For Mortgage Fraud, California Takes the Cake Reverse Mortgage DailyCalifornia Claims #1 Mortgage Fraud Ranking Sacramento BeeCalifornia leads mortgage fraud cases Bizjournals.com South Florida Business Journal - Mortgage Dailyall 17 news articles »
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Source: Palm Beach Post
First Coast NewsTwenty people in South Florida, including licensed real estate agents and mortgage brokers, were charged in a $40 million bank and mortgage fraud scheme, according to several law enforcement groups involved in the investigation. …20 charged in $40M bank, mortgage fraud scheme MiamiHerald.comTwenty indicted in $40M mortgage fraud Bizjournals.comHells Angels leaders among indictees in multimillion dollar mortgage fraud … Lake County News Federal Bureau of Investigation (press release)all 25 news articles »
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Source: Housing Wire
A year after his $6.9 million-mortgage fraud scheme was uncovered in a 2006 Tampa Tribune investigative story, Chad Evans was under pressure amid a federal government investigation. So he left town, …and more »
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Source: Tbo.com
A year after his $6.9 million-mortgage fraud scheme was uncovered in a 2006 Tampa Tribune investigative story, Chad Evans was under pressure amid a federal government investigation. So he left town, …and more »
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Source: Tbo.com
Florida continues to be the state with the most mortgage fraud, according to a list compiled by MortgageDaily.com, but other states are gaining. The national “Second-Quarter 2011 Mortgage Fraud Index” was at 1261, an increase of 27 percent from the …Fraud activity report does not show complete picture Minnesota Public RadioReport: Mortgage Fraud Rose In Q2 MortgageorbFlorida ranks No. 1 for mortgage fraud Bizjournals.com Minneapolis / St. Paul Business Journal - Bryan Ellis Real Estate Letter - Sacramento Business Journalall 17 news articles »
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Source: Sarasota Herald-Tribune
MiamiHerald.comThe Florida Attorney General’s Office of Statewide Prosecution, 11th Judicial Circuit State Attorney’s Office, and Miami-Dade Police Department’s Mortgage Fraud Task Force partnered to arrest and charge the defendants, Ronald Rodriguez, Zoar Rodriguez, …Florida attorney general faces managerial challenges Sun-SentinelFlorida Attorney General Pam Bondi deflects controversy over firings, angry memo Tampabay.comall 6 news articles »
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Source: National Mortgage Professional Magazine
WPTVFour South Florida men are going before a federal judge tomorrow after being arrested in what investigators call a mortgage scam. Christopher Godfrey, 42, Dennis Fischer, 40, Vernell Burris, Jr., 51 and Brian Kelly, 34, all of Palm Beach …Four Palm Beach County men indicted in Mass. in alleged loan modification scheme Palm Beach PostFour Fla. men charged in home loan scam UPI.comFeds crack down on home-loan fraud Juice (blog)all 39 news articles »
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Source: WDBO Radio
