Manjur Alam, 47, Wichita, Kansas, was sentenced to six years in federal prison for a mortgage fraud scheme wherein he submitted false verification of rent and submitted a false letters of credit to lenders for nominal buyers.
Archives For Loan App. Misreps
Matthew Amato, 31, Broomall, Pennsylvania, pleaded guilty to one count of making false statements to banks. Amato admitted lying to three lenders for the purpose of influencing the actions of the banks upon lines of credit for which he had applied.
Bruce Hawkins, 64, Denver, Colorado, the former owner of a home building company that went bankrupt in 2008, leaving unfinished a commercial and residential property development, was sentenced to 15 months in federal prison for bank fraud related to the collapse of the project, known as Riverside Square.
Carmen Denise Mosley, 44, Granada Hills, California, an accountant, was sentenced to 57 months in federal prison and ordered to pay approximately $1.1 million in restitution for her role in a mortgage fraud scheme in southern Nevada. The defendant conspired to obtain mortgage loans from financial institutions by causing materially false information to be placed in the buyers’ mortgage loan applications and supporting documentation.
Matthew Amato, 31, Philadelphia, Pennsylvania, was charged in an criminal Information with one count of making false statements to banks. Amato allegedly made false claims to influence lenders to approve his loan application.
Shola Risikat Balogun, 48, Upper Marlboro, Maryland, was sentenced by U.S. District Judge Peter J. Messitte to 37 months in prison followed by three years of supervised release for conspiring to commit wire fraud in connection with a mortgage fraud scheme that she organized and managed, which resulted in over $1.352 million of actual losses to mortgage lenders.
Six defendants are facing federal fraud charges involving separate schemes to obtain a total of more than $2.7 million through fraudulent statements in loan applications submitted to banks and mortgage lenders, among other institutions.
Eric Gagnepain, 41, Nixa, Missouri, co-owner of Greenleaf Companies has been sentenced in federal court for aiding and abetting a bank fraud conspiracy involving the creation and submission of fraudulent loan applications that was part of a multi-million-dollar mortgage investment scheme.
Linda Yarleque, 44, and Fabio Moreno Vargas, 47, Bergen County, New Jersey, husband and wife, were both sentenced to prison for lying about their employment, income, and other financial information in order to fraudulently obtain millions in mortgages.
Paulynn Wright, 42, Knoxville, Tennessee, pleaded guilty on July 29, 2014, in U.S. District Court for the Eastern District of Tennessee at Knoxville, to conspiracy to commit wire fraud. Wright admitted conspiring to obtain a mortgage loan by providing false information to a lender.