Kenneth Steward, 45, South Holland, Illinois, was sentenced to 17½ years in federal prison for directing a $35 million mortgage fraud scheme involving more than 120 residences on the city’s south side. The scheme caused various lenders and financial institutions to lose approximately $16 million on mortgage loans that were not repaid by the borrowers or fully recovered through subsequent foreclosure sales.
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Michael A. Gmeinwieser, 38, Crofton, Maryland, pleaded guilty to wire fraud in a scheme to divert over $3 million in settlement funds intended to pay off the previous mortgage on the properties to himself and his company.
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Sabir Moghul, 72, Manchester, Connecticut, was sentenced by Chief United States District Judge Alvin W. Thompson in Hartford, Connecticut, to 36 months of imprisonment, followed by three years of supervised release, for bank fraud and money laundering.
According to court documents and statements made in court, in 2005, Moghul applied for two mortgage loans
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Ronald Johannes Sneijder, 48, Herndon, Virginia, a former owner of a title and escrow company based in the District of Columbia, pled guilty to the lead count in a recently filed indictment, bank fraud. As previously reported by Mortgage Fraud Blog, the indictment against Continue Reading...
Anthony V. Weis, 45, Phoenix, Maryland, was sentenced by U.S. District Judge Catherine C. Blake to 78 months in prison followed by three years of supervised release for wire fraud in connection with a mortgage fraud scheme to defraud lenders of approximately $3.9 million in just eight months. Judge Blake ordered Weis to pay restitution of $4,007,705, which includes the loss to the
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Patrick Reidy, 46, Gansevoort, New York, a Saratoga Springs-based lawyer, was sentenced in Saratoga County Court to 5 to 15 years in state prison for a felony grand-larceny charge stemming from a mortgage fraud scam that took $2.37 million from unsuspecting clients. He was convicted in August 2010, after having pleaded guilty to the charges and agreeing to repay restitution over the next 10 years.
As sole operator of
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James B. Hayes, 57, Boca Raton, Florida, an attorney, pled guilty to a criminal information charging him in two counts of making false statements on a HUD-1 Settlement Form, a matter within the jurisdiction of the U.S. Department of Housing and Urban Development (HUD) in violation of Title 18, United States Code, Section 1001.
According to the criminal information and statements made in court during the plea hearing,
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Mark M. Benun, 35, New York, New York, was arrested on a criminal Complaint charging him with interstate transportation of a portion of the proceeds from the fraudulent sale, for more than $5 million, of a building at 161st Street in the Bronx. Benun was arrested at his
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