Robert Leo Rick, 52, White Bear Lake, Minnesota, was sentenced for his role in a mortgage fraud scheme that defrauded mortgage lenders out of at least $7 million.
Archives For Appraisal Fraud
Dennis Wayne Parris, Senior Vice President of Phoenix Housing Group (PHG), has been indicted in the Western District of North Carolina and charged with conspiracy to commit mortgage fraud.
Bryan Joseph Lenton, 33, Oakdale, Minnesota, was sentenced for his role in a mortgage fraud scheme that caused losses to lenders exceeding $7 million.
Mark Murphy, 47, Williamstown, New Jersey, was charged by information with participating in a mortgage fraud conspiracy involving more than 100 properties and more than $20 million in fraudulent loan proceeds.
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Rashika J. Moon, 42, Carneys Point, New Jersey, was charged by information with participating in a mortgage fraud conspiracy involving more than 100 Philadelphia properties and more than $20 million in fraudulent loan proceeds.
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Michael Saad, 49, an Iowa resident, was sentenced to six months’ imprisonment, followed by six months’ home confinement, for willfully overvaluing property for the purpose of influencing a federally insured credit union.
George Kubini, 48, Verona, Pennsylvania; Dov Ratchkauskas, 46, Pittsburgh, Pennsylvania; Sandra Svaranovic, 52, Pittsburgh, Pennsylvania; and Arthur Smith, 63, Pittsburgh, Pennsylvania, have been indicted by a federal grand jury on charges of conspiracy, wire fraud, bank fraud, filing false tax returns, and failing to file tax returns.
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James Thomas Webb, 51, has been charged in a 50 count indictment for his alleged role in an appraisal fraud scheme resulting in blighted neighborhoods after borrowers defaulted on the loans.
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Derrick Phelps, 44, Katy, Texas, who owned and operated two mortgage industry businesses, Cynthia Phelps, 34, his wife, and Linda Mack, 49, North Las Vegas, Neveada, an escrow officer, were indicted by a federal grand jury on conspiracy and bank fraud charges in relation to an $83 million mortgage fraud scheme.
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Brandon Shepherd, owner of Freedom Financial, the CORE Foundation, and the Sberna Foundation, pleaded guilty to two counts of theft. An employee of Shepherd, Garland Ward, pleaded guilty to a charge of attempted theft. Laura Habre George and Jeff Sadler, both appraisers, also pleaded guilty to their roles in the scam.
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