Archives For Iowa

Randal L. Walters, Des Moines, Iowa, a real estate developer, was sentenced to twelve months and one day in prison for his participation in a bank fraud scheme.

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Thomas Richard Jager, 64, Bettendorf, Iowa, has been charged with drafting and faxing false remittance reports to investors in mortgage pools and submitting false end of the year reports to mortgagors.

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Walter R. Zimmerer, III, age 70, Colts Neck, New Jersey, formerly owner of Zimmerer Custom Homes in LeClaire, Iowa, was sentenced by United States District Judge Stephanie M. Rose to one-month imprisonment and 12 months home confinement, having previously pleaded guilty to nine counts of bank fraud.

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Paul Kramer, 42, Granger, Iowa, was found guilty by a federal jury of 18 counts of wire fraud and bank fraud in connection with multi-million dollar mortgage fraud schemes that resulted in innocent homeowners, including a refugee from Iraq andhis family, nearly losing their homes to foreclosure.

 

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Randal L. Walters, 55, Polk County, Iowa, appeared in federal court in Des Moines on Thursday, September 20, 2012, and pled guilty to one count of bank fraud in connection with a loan to develop a Des Moines area condominium project.

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Justin Michael Ray, Cedar Rapids, Iowa, a mortgage broker who schemed with his father to defraud a mortgage lender was sentenced October 12, 2011, to more than three years in federal prison.

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Jean Teresa Hoffert, 59, Emmetsburg, Iowa, a real estate broker who stole mortgage loan proceeds received during real estate closings, pled guilty on July 5, 2011, in federal court in Sioux City.  Hoffert was convicted of one count of mail fraud.

At the plea hearing Hoffert admitted defrauding others out of

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Ronald Lee Wheeler, 69, Murray, Iowa, was sentenced to time served and immediately placed on five years of supervised release for providing false statements to a financial institution in 2006. United States District Court Senior Judge Ronald Longstaff also ordered Wheeler to pay restitution in the amount of $821,134, a $100.00 assessment for the Crime Victim Fund and serve 200

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Franklin R.York, Pella, Iowa, a former attorney, pled guilty in federal court in Des Moines, Iowa, to one count of wire fraud.

According to the written plea agreement, York owned and operated Escrow and Closing Services of Marion County, LLC since 2005 and provided real estate closing and refinancing

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Marc Robert Engelman, 59, Davenport, Iowa, appeared in United States District Court on May 20, 2011, to answer an indictment charging him with two counts of bank fraud, six counts of wire fraud, and one count of conspiracy.

The indictment alleges that Engelmann, an attorney, participated in a scheme to defraud banks

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