Catherine Kissick, 50, Orlando, Florida, a former senior vice president and head of Colonial Bank‘s Mortgage Warehouse Lending Division was sentenced to eight years in prison for her role in a more than $2.9 billion fraud scheme that contributed to the failures of Colonial Bank and Continue Reading...
Archives For Investment Scams
Lloyd V. Barriger, Monticello, N.Y., an investment adviser, was charged with fraudulently offering and selling securities in two upstate New York real estate funds he managed. The allegations include that Barriger told investors in the Gaffken & Barriger Fund (G&B
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Elviston Ramasir, 28, Manorville, New York, the former president of Home Free Realty, Inc., Long Island, New York, a real estate services company, was sentenced to 51 months in prison for committing two separate real estate fraud schemes, to which he pled guilty in January 2011. In one scheme, he stole approximately $1.5 million from an investor by promising huge rates of return on
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James Toufic Assali, 36, Irvine, California, the owner of a Costa Mesa, California-based mortgage refinance company and escrow business, is charged in a large fraudulent rate-lock loan modification scheme targeting mostly out-of-state and some elderly victims. Assali is currently sought by law enforcement officers. To date, known victims are residents of California,
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Eric Rulack Farrington, 58, Irving, Texas, was sentenced by U.S. District Judge Sam A. Lindsay to 132 months in federal prison for largely orchestrating a multi-million dollar mortgage fraud scheme in the Dallas, Texas area. Judge Lindsay also ordered that Farrington pay approximately $2.5 million in restitution and forfeit approximately $1.2 million to the U.S.
As
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William Warren Baker, 59, Laguna Nigel, California, was convicted of stealing over $900,000 from investors in a Ponzi scheme by fraudulently promising to buy, refurbish, and re-sell distressed homes for a profit.
As previously reported by Mortgage Fraud Blog, Continue Reading...
David Romo, 42, Folsom, California, a real estate developer, has been indicted by a federal grand jury returned a 12-count indictment with mail fraud, wire fraud, and money laundering, related to a real estate investment scheme that defrauded investors of more than $2.5 million.
According to the indictment, Romo, using his Sacramento, California companies Continue Reading...
Delroy Oliver Davy, 38, Lithonia, Georgia, was sentenced by United States District Judge J. Owen Forrester to serve 14 years in federal prison on charges of bank fraud and conspiring to commit bank, mail and wire fraud. Davy‘s sentence is to be followed by 5 years of supervised release, and he was ordered to pay $5,504,431 in restitution. Continue Reading...
Garry Bradford, 62, Sacramento, California, was arrested after a federal grand jury returned a five-count indictment against him on April 14, 2011. He is charged with wire fraud in connection with a real estate investment “Ponzi” scheme.
According to the indictment, from August 2004 until October 2008, Bradford
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Gregory L. Jackson, a real estate investor, pleaded guilty to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, California.
Jackson pleaded guilty to conspiring with a group of real estate speculators who agreed not to bid
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