Archives For Closing Fraud

Alysia Franco, also known as Martha Orozco, was indicted for her alleged involvement in a scheme to steal closing funds during real estate purchase transactions.

In September 2015, the FBI Phoenix Field Division’s Tucson Resident Agency received a report alleging the theft of closing funds in a real estate transaction from a Tucson, Arizona resident.  The alleged victim notified the FBI that they wired their closing funds to a bank account in the name of SkySea Logistics after receiving an email instructing them to do so, purportedly from a party to the real estate closing.  Unbeknownst to the victim, Skysea Logistics Services was not a party to the real estate transaction and was allegedly used as a front business by Franco, who allegedly provided SkySea’s business and account information to others for use in receiving the proceeds of criminal activity between September 2013 and September 2015 as alleged in the indictment.

The resulting investigation by the FBI uncovered another victim in Tucson, Arizona who transferred closing funds to SkySea Logistic Services.  The funds wired by both victims totaled $391,500.00.  The Attorney General’s Office seized the full amount of the funds from SkySea’s bank account and returned the full amount of what was allegedly stolen back to the victims.

The indictment alleges Franco committed two counts of Theft, one count of Money Laundering in the Second Degree, one count of Illegally Conducting an Enterprise, and one count of Conspiracy.

Attorney General Mark Brnovich made the announcement.

This matter was investigated by the FBI Phoenix Field Division’s Tucson Resident Agency.  Assistant Attorney General Rachel R. Heintz is prosecuting the case.

All defendants are presumed innocent until convicted in a court of law.

 

Kevin Hymes, 40, North Castle, New York, pled guilty to his role in a real estate fraud scheme whereby he misappropriated deposits and closing funds.

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Joel Martinez, 41, Phoenix, Arizona, has been charged in a 43 count indictment involving nine other individuals in connection with a mortgage fraud scam.

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Lesley Karen Williams and North American Title Company (“NATCO”) are the subject of a Texas Department of Insurance (the “Department”) public hearing  set for February 14, 2012. The hearing is being held to consider disciplinary action against Williams and NATCO.

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