John Allen, Laguna Hills, California, a mortgage loan processor based in was sentenced to one year in custody by U.S. District Court Judge John A. Houston for his participation in an investment and mortgage loan fraud scheme that generated nearly $15 million in kickbacks.
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Mary Armstrong, the mastermind of a $100 million mortgage fraud that generated almost $15 million in illegal kickbacks, was sentenced to 100 months in prison by U.S. District Judge John A. Houston.
Theresa Marcianti, 60, Las Vegas, Nevada, a real estate escrow officer, was convicted of conspiracy and fraud charges for her involvement in a mortgage fraud scheme that caused millions of dollars in losses to the lenders and financial institutions.
Ten defendants, including five licensed loan originators, were indicted for allegedly participating in a scheme to fraudulently obtain approximately 52 residential mortgage loans totaling at least $14.5 million from various lenders.
Raffi Oghlian, 38, Westwood, New Jersey, a loan officer, admitted to conspiring to defraud financial institutions as part of an approximately $2 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on town homes and other real estate in three states.
David R. Sharrock, 71, Mansfield, Ohio, man was found guilty of more than two dozen charges in connection with a mortgage fraud scheme which caused approximately $1.3 million in losses to Geauga Savings Bank, J.P. Morgan Chase Bank, Washington Mutual Bank, Interbay Funding LLC, and Suntrust Mortgage Inc.
Gerry Zobrist, 43, Las Vegas, Nevada, an attorney, was sentenced to 87 months in prison for his involvement in a mortgage fraud scheme that caused more than $30 million in losses to lenders.
Daniel Ofei, 39, Bowie, Maryland, was sentenced by U.S. District Judge Peter J. Messitte to 37 months in prison, followed by five years of supervised release, for conspiracy to commit wire fraud in connection with a mortgage fraud scheme involving losses of at least $5 million. Judge Messitte also entered an order that Ofei pay restitution of $5,950,000.
Paul Kramer, 43, Granger, Iowa, was sentenced on August 19, 2013, by Chief United States District Judge James E. Gritzner to 90 months in prison for wire fraud, bank fraud, and conspiracy. Judge Gritzner also sentenced Kramer to five years of supervised release following incarceration.
Walter Scott Fruit, 54, and Sandra Jackson, 48, both of Tucson, Arizona, were sentenced to federal prison by U.S. District Court Judge Cindy K. Jorgenson for their role in a mortgage fraud scheme. Fruit was sentenced to 30 months in prison; Jackson was sentenced to six months in prison.