Ryan Daryl Krutzig, 31, Maple Grove, Minnesota, a real estate appraiser, and Jesse Scott Hoffman, 32, St. Cloud, Minnesota, a real estate agent, were indicted in connection with a $1.8 million mortgage fraud scheme that involved 28 properties. The defendants were charged with five counts of wire fraud in connection to the scam. In addition, Continue Reading...
Archives For Straw Buyer
The following individuals were arraigned:
Gayle Tracy, 50, Batavia, Illinois, faces 12 charges: 3 counts each of Conspiracy to Commit a Financial Crime and Financial Institution Fraud; 2 counts each of Organizer of a Continuing Financial Crimes Enterprise and Theft by Deception; and 1 count each of Continuing Financial Crimes Enterprise and Money Laundering.
Brent
Continue Reading...
James Merrill Roberts, Cedar Hills, Utah, pleaded guilty to counts 3 and 8 of an indictment charging him with a scheme to identify residential properties, recruited straw buyers, and, through false statements on loan applications, falsely inflated the apparent value of the properties to induce lenders to grant loans for amounts in excess of their fair market value.
As
Continue Reading...
Eric Rulack Farrington, 58, Irving, Texas, was sentenced by U.S. District Judge Sam A. Lindsay to 132 months in federal prison for largely orchestrating a multi-million dollar mortgage fraud scheme in the Dallas, Texas area. Judge Lindsay also ordered that Farrington pay approximately $2.5 million in restitution and forfeit approximately $1.2 million to the U.S.
As
Continue Reading...
Ralph Appolon, 30, formerly of Watertown, Massachusetts, a loan originator, the 12th and final defendant in a large-scale mortgage fraud ring, was sentenced in federal court for his role in fraudulent property transactions that were part of a larger mortgage fraud conspiracy involving 21 property deals and more than $10.6 million in loan proceeds. In February 2011, Appolon was
Continue Reading...
Scott Olson, after pleading guilty to count 1 of the Superseding Indictment, was sentenced to probation for a term of 5 years, home confinement for a period of 9 months, a special assessment of $100 and restitution in the amount of $734,353.66.
As previously reported by Mortgage Fraud Blog, Continue Reading...
Delroy Oliver Davy, 38, Lithonia, Georgia, was sentenced by United States District Judge J. Owen Forrester to serve 14 years in federal prison on charges of bank fraud and conspiring to commit bank, mail and wire fraud. Davy‘s sentence is to be followed by 5 years of supervised release, and he was ordered to pay $5,504,431 in restitution. Continue Reading...
Dema Daiga, 29, College Park, Maryland, was sentenced by U.S. District Judge Marvin C. Garbislate to 65 months in prison followed by 3 years of supervised release for defrauding a mortgage lending company in connection with six Baltimore, Maryland, properties. Daiga‘s sentence also included two counts of aggravated identity
Continue Reading...
A loan officer and five straw buyers/investors were charged in federal court via a criminal information for their roles in a mortgage fraud scheme involving 26 properties throughout the Cleveland, Ohio, area and more than $7.5 million in mortgage loans:
Jeffrey S. Brown, Jr., 30, Cleveland, Ohio, a loan officer;
Rolante
Continue Reading...
After a two-year investigation, four indictments charging 17 people with more than 108 crimes were handed down for their roles in mortgage fraud and identity theft schemes that stole more than $20 million from homeowners, banks, and the County government. Among those arrested are lawyers, mortgage brokers, real estate brokers, bank employees, an appraiser, a financial consultant and one United States Postal worker. The investigation was dubbed “Operation Sweet Deal.”
Continue Reading...