Donald M. Ramsey, 45, Alexandria, Virginia, a mortgage broker, pled guilty to a charge of conspiracy to commit bank and mail fraud for his part in a scheme that cost lenders more than $700,000.
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The Financial Crimes Enforcement Network released its First Quarter 2012 Update of mortgage loan fraud suspicious activity reports (MLF SARs) that shows California, Nevada, and Florida leading the nation in the number of MLF SAR subjects per capita.
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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.
Speaking at a hearing in Washington, D.C., the Appraisal Institute urged a federal judicial agency to require the use of real estate appraisals when calculating loss in mortgage fraud cases. The Appraisal Institute is the nation’s largest professional association of real estate appraisers.
The U.S. Attorney’s Office for the District of Columbia has successfully built upon the efforts of Operation Stolen Dreams, a nationwide initiative against mortgage fraud, with prosecutions of defendants accused of crimes that resulted in losses of more than $10 million. Those convicted include:
Ronald Johannes Sneijder, Herndon, Virginia, 48, a former owner of a title and escrow company based in the District of Columbia.
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Paul Allen, 55, Oakton, Virginia, the former chief executive officer (CEO) of Taylor, Bean & Whitaker (TBW) was sentenced to 40 months in prison for his role in a more than $2.9 billion fraud scheme that contributed to the failure of TBW.
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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...
Akinola George, 40, Washington, D.C., has been indicted by a federal grand jury on charges of bank fraud, mail fraud, and conspiracy to commit bank/mail fraud in a scheme that led to $2.4 million in losses.
The seven-count indictment, unsealed in the U.S. District Court for the District of Columbia, alleges that George
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Sidney Okosun, 41, a Nigerian national residing in Washington, D.C., was sentenced by U.S. District Judge Alexander Williams, Jr. to 18 months in prison followed by five years of supervised release for bank fraud in connection with a scheme to defraud mortgage lenders. Judge Williams also ordered Okosun to pay restitution of $2,165,191. Continue Reading...