Andrew Michael Phalen, 25, Mission Viejo, California, was sentenced to a year in jail and five years of formal probation for defrauding hundreds of victims in a real estate scam by offering home loan modification assistance to struggling homeowners across the country.
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A fraud alert has been issued to the Armed Services community to combat scams targeted at homeowners seeking to apply for mortgage assistance through the Home Affordable Modification Program (HAMP) and other federal programs. A number of these scams are specifically targeting members of the Armed Services community.
Vafa Allan Khoshbin, 52, Los Angeles, California, state bar number 165486, an attorney accused of misappropriating $1.1 million from 10 clients, has agreed to be disbarred. The case was one of the largest misappropriation cases ever handled by the California Office of Chief Trial Counsel.
Howard R. Shmuckler, 68, Virginia Beach, Virginia, pled guilty to running a fraudulent mortgage rescue business that received substantial fees but actually modified clients’ mortgages in only a few cases.
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David Shawn Moffitt, 34, the owner of a loan modification business with offices in Lehi and St. George, Utah, has been charged with 9 felony counts for allegedly defrauding hundreds of desperate homeowners.
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Freedom Companies Lending, Inc., Minnesota, is the subject of a cease and desist order for allegedly engaging in mortgage modification activities in Idaho without a license and targeting Spanish-speaking Idaho homeowners by unlawfully charging them large upfront fees.
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Michael Trap, San Diego, California, was sentenced on June 15, 2011, to the Bureau of Prisons for a term of 30 months as to each count, to run concurrent, 3 years of supervised release as to each count, to run concurrent, a special assessment of $100 imposed as to each count for a total of $200.00, and restitution in the amount of $460,249.
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Avatar Realty Group, also known as Monroe Realty and Financial Enterprises, and Arthur R. Monroe, Oswego, Illinois, were subject to disciplinary action resulting from an investigation into alleged unlicensed and improper mortgage loan modification activities in Illinois.
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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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The State Bar of California has taken action against 5 more lawyers under investigation for loan modification misconduct, bringing to 14 the number of attorneys who have resigned or been placed on involuntary inactive enrollment since creation of the bar’s Loan Modification Task Force in April 2009.
Timothy Thurman [Bar #216048], 37, Altadena, California, resigned on November 2, 2009, with charges pending following
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