Shawna Lea Pennington, 40, Caldwell, Idaho, pleaded guilty in U.S. District Court to bank fraud and bankruptcy fraud for making misrepresentations in a loan application and for failing to disclose creditors in her bankruptcy proceeding.
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Corvus Law Group, LLC, Post Falls, Idaho, a law firm that files multi-plaintiff lawsuits against mortgage servicers, has agreed to change how it solicits clients in Idaho.
Consumers are warned to be cautious in dealing with several enterprises offering seminars on how to “get rich quick” in real estate, which may include illegal practices such as equity skimming, preparation of false documents and pass-through escrows.
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Corvus Law Group is mailing ads to Idaho homeowners inviting them to join scam lawsuits against their mortgage lenders. The ads look like government forms and claim homeowners can get large principal reductions or other monetary relief if they join the lawsuit.
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Louis C. Nardone III, doing business as Precision Marketing Group, has been sued for violations of the registration and fraud provisions of the Idaho Uniform Securities Act concerning a real estate investment scam. Nardone operated from Lake Mohegan, New York.
The Complaint alleges that the Defendant obtained
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Paul Redondo, 34, Meridian, Idaho, was sentenced in federal court to three years’ probation, three months of home detention, and 80 hours of community service for misdemeanor theft from a financial institution.
U.S. Magistrate Judge Ronald E. Bush also ordered Redondo to pay $101,459 in restitution. Continue Reading...
Jeremiah Yancy, Idaho, has had a default judgement placed on him for violating provisions of the Idaho Uniform Securities Act, the Idaho Commodity Code and the Idaho Residential Mortgage Practices Act between 2006 and 2009. The findings were based on a 40-page complaint filed by the Department in July 2009. Yancy was permanently enjoined by the Court from engaging in future violations.
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Gavin Gee, director of the Idaho Department of Finance, announced the signing of an updated agreement to cooperatively work with other state mortgage regulators in overseeing the activities of state-licensed mortgage companies operating across state lines.
Gee said that all 50 state mortgage regulators, as well as regulators from the District of Columbia and Puerto Rico, have signed a Nationwide Cooperative Agreement
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