Archives For Link

FDLE agent gets five-day suspension, already served, in mortgage case

Kathy Smith, a Key West-based Florida Department of Law Enforcement agent who had been suspended with pay since November 2014 following allegations of mortgage fraud, received a five-day suspension without pay from Aug. 10 to 14 after her agency completed its internal affairs investigation on the matter.

“The internal investigation is closed, the outcome was a sustained violation of member conduct and unbecoming conduct,” FDLE spokeswoman Molly Best said.

Former Wilmington Trust president pleads not guilty to federal fraud and conspiracy charges

Former Wilmington Trust president Robert Harra Jr. was ordered released on bail Thursday after pleading not guilty to fraud and conspiracy charges stemming from an ongoing federal investigation into the collapse of the century-old financial institution.

Harra, 66, said little during his initial court appearance, only acknowledging that he understood the charges and maximum penalties he faces as outlined to him by U.S. Magistrate Judge Christopher Burke.

Real Estate Fraud: Victims of Ignacio Beato Fraud Seek Help

Dozens of residents in Hazleton are seeking for help after being scammed by a real estate agent who was at the same time their community leader. They all bought their houses from Ignacio Beato, who turned out to be selling homes with fraudulent deeds.

The Greater Hazleton Real Estate Association says there are about 50 complaints against Beato, a licensed real estate agent.

Sharrock denied shortened prison sentence

A federal judge has rejected David R. Sharrock’s request to overturn or shorten his 135-month sentence for mortgage fraud, concealment of property and fraudulent transfer in a bankruptcy.

U.S. District Court Judge Donald C. Nugent issued a ruling saying he believes testimony given during a July 28 hearing in Cleveland where Sharrock’s attorney, James McDonnell, told the court the 73-year-old inmate never asked him to file an appeal after he plea no contest in September 2013.

Trial delayed for former land developer accused in investment scheme

Defense attorneys for a former local real estate developer were granted a continuance Wednesday in Solano County Superior Court over a scheduling conflict.

Attorneys in the case of Richard D. Lamphere were ordered back to court Sept. 1 when a new trial date will be selected. A trial could possibly be set for March 2016, according to courtroom discussions.

Judge Denies Habeas, Upholding Fraud Conviction

A former leader of a Haitian paramilitary force failed to persuade a judge that his mortgage fraud conviction in the United States was unsound.

Eastern District Judge Jack Weinstein denied Emmanuel “Toto” Constant’s habeas corpus petition on Friday, saying the lead-up to his conviction—which involved a state judge’s sua sponte decision to vacate Constant’s plea deal in light of serious allegations against him for his acts in Haiti—did not run afoul of due process requirements.

Fryar, mother ask judge to overturn guilty verdicts

Alleging a “miscarriage of justice,” attorneys for former NFL star Irving Fryar and his mother are urging a judge to  either overturn a jury’s verdicts convicting the two in a $1.2 million mortgage fraud or grant a new trial.

Motions filed by the defense in Superior Court in Mount Holly late last week say the convictions came despite a lack of evidence and because of prosecutorial misconduct.

Tampa lawyer involved in mortgage rescue scam loses law license

A Tampa lawyer who helped swindle homeowners out of $4.7 million during the mortgage crisis has had his law license revoked by the state Supreme Court.

In July of 2014, the attorneys general for Florida and Connecticut filed a federal lawsuit alleging lawyer Ian S. Berger, along with several others, had scammed struggling homeowners by promising them loan modifications if they signed on to “mass joinder” lawsuits against their lenders.

Irving Fryar and mother convicted in mortgage scheme

Former Philadelphia Eagles player Irving Fryar and his mother, Allene McGhee, were found guilty Friday of charges of conspiracy and theft by deception stemming from a $1.2 million mortgage scheme that prosecutors said victimized seven lending institutions in South Jersey and Philadelphia in 2009.

Fryar, a Pro Bowl wide receiver who retired from the NFL in 2001 after playing for 17 years with four teams, and his mother, a retired school bus driver from Willingboro, showed no emotion as a jury in Mount Holly announced the verdict after more than 11 hours of deliberation.

Canada – Liar loans helping to inflate hot housing markets, experts say

New allegations of broker fraud come amid fresh warnings about lofty real estate prices in Vancouver and Toronto markets and their surrounding suburbs.

Stated income or “Liar Loan” create an indicia of affordability – thereby allowing a bubble to continue to inflate, long after it should have popped.  The US Markets experienced this during the run-up to the financial crisis when negatively amortizing and no documentation loans allowed people to purchase homes which were simply unaffordable.  -Rachel