Archives For real estate investor

Thomas L. Boyd, 44, real estate investor, Memphis, Tennessee, was sentenced to 30 months in federal prison for his role in a scheme to fraudulently obtain mortgage loans. An indictment returned last September by a federal grand jury alleged that Boyd, the owner of Wonderful Properties, LLC, made false statements and presented false documents to Regions Bank, First Tennesse Bank, Bank of America and Oak Tree Funding on behalf of persons who were financing the purchase of properties from Boyd and Wonderful Properties.

Boyd pled guilty in May to a charge of bank fraud and admitted at his plea hearing to making false statements to Regions Bank in connection with a mortgage loan being made to an individual who was financing the purchase of a property from Boyd.

In imposing the sentence, U.S. District Judge Sheryl H. Lipman also ordered Boyd to pay total restitution in the amount of $383,375.43 and to serve a 3-year term of supervised release following his release from prison.

Lawrence J. Laurenzi, Acting U.S. Attorney, announced the sentence. The case was investigated by the FBI; Federal Housing Finance Agency (FHFA) – OIG; Department of Housing and Urban Development (HUD); Postal Inspection Service and IRS. Assistant U.S. Attorneys Carroll L. Andre III and Lorraine Craig prosecuted this case on the government’s behalf

Paul Mancuso, 49, Glen Rock, New Jersey, pled guilty in Newark, New Jersey, federal court to one count of conspiracy to commit wire fraud in connection with fraudulent investment schemes that defrauded 15 victims of more than $3 million.

According to documents filed in the case and statements made in court:

On August 21, 2014, a federal grand jury in Newark, New Jersey indicted Mancuso on one count of conspiracy to commit wire fraud and five counts of wire fraud. It also charged Pasquale Stiso, 53, West Harrison, New York, with one count of conspiracy to commit wire fraud and one count of wire fraud. Continue Reading…

John Shiells, Real Estate Investor,  Danville, California, and Miguel De Sanz, Real Estate Investor, San Francisco, California each pleaded guilty to three counts of bid rigging and three counts of mail fraud in the U.S. District Court of the Northern District of California in Oakland, California. Both were charged in an indictment returned by a federal grand jury in the Northern District of California on Nov. 19, 2014 in connection with their role in bid-rigging conspiracies and mail fraud at public real estate foreclosure auctions in Northern California. Continue Reading…

Ramin Rad “Ray” Yeganeh, real estate investor, San Mateo, California was indicted by a grand jury in the U.S. District Court of the Northern District of California in Oakland and charged with bid rigging and conspiracy to commit mail fraud in connection with public foreclosure auctions. Continue Reading…