Paul Wagner, 56, Las Vegas, Nevada, was convicted, following a 12-day trial, of conspiracy and fraud charges for selling houses at inflated prices in order to fraudulently obtain mortgage loans and to defraud federally insured banks and lenders of more than $8 million.
Archives For Appraisal Fraud
Denise Bonfilio, 55, Pennsylvania, has been found guilty of nine counts of wire fraud and money laundering conspiracy in connection with a mortgage fraud scheme.
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Michael Jacoby, 44, Castle Rock, Colorado; Derek Zar, 30, Commerce City, Colorado; and Susanne Zar, 58, Frederick, Colorado, were found guilty on August 30, 2012, by a federal jury for wire fraud, bank fraud, and money laundering.
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Alicia Martineau, 25, West Haven, Connecticut, Wilson Nicolas, 29, Groton, Connecticut, Lisa Depa, 26, Middletown, Connecticut, and Richard Novak, 49, Middletown, each involved in an extensive mortgage fraud scheme, were sentenced on Friday, August 24, 2012, for their crimes.
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Mark E. Greenlee, 50, Charleston, North Carolina, a former West Virginia licensed real estate appraiser, was sentenced for preparing a false and fraudulent appraisal in 2006 in furtherance of a multi-million-dollar mortgage fraud scheme perpetrated by Deborah L. Joyce and others in the Stonegate subdivision in Hurricane, Putnam County, West Virginia.
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Mary Armstrong, a fugitive unlicensed loan broker from California, was arrested in Las Vegas, Nevada. The indictment charges Armstrong, a real estate agent Teresa Rose, and Armstrong’s assistant William Fountain with devising and executing a mortgage loan origination fraud and kickback scheme.
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Christopher Jon Andrews, 53, Inver Grove Heights, Minnesota, was indicted on July 10, 2012, in connection with soliciting buyers to purchase properties at inflated prices in a multi-million-dollar mortgage fraud scheme.
Raymond Paul Morris, 51, South Weber, Utah, pleaded guilty in federal court for his involvement in a sophisticated multi-million-dollar mortgage fraud scheme linked to properties at a Putnam County, West Virginia, subdivision.
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John Farano, 50, Palos Park, Illinois, and Charles Murphy, 65, Chicago, Illinois, both attorneys, were sentenced along with two others following their convictions for participating in a multi-million dollar mortgage fraud scheme involving at least 40 residential properties.
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David C. Christian, 62, Catonsville, Maryland, real estate appraiser, pleaded guilty to conspiracy to commit wire fraud.
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