Man Charged with Mortgage Fraud

Stephanie Abbott —  June 8, 2026 — Leave a comment

Yan Daniel Inclan Hernandez 32, Orlando, Florida, has been charged by indictment with one count of making a false Statement to a financial institution and three counts of wire fraud.

According to the indictment, in September of 2021, Hernandez made a false statement on a mortgage loan application submitted to a financial institution claiming $12,350 in monthly income. This false statement influenced the financial institution’s decision to approve and fund a $411,350 mortgage loan which Hernandez used to purchase a property in Orlando.

Additionally, between May 2020 and August 2021, Hernandez engaged in a wire fraud scheme to fraudulently obtain COVID-19 pandemic Paycheck Protection Program (PPP) loans for himself and an Economic Injury Disaster Loan (EIDL) for his company from the U.S. Small Business Administration (SBA). Hernandez caused PPP and EIDL applications to be submitted that overstated gross monthly payroll, gross monthly income, gross annual revenues, and the number of employees. These material misstatements, and others, fraudulently induced the SBA and PPP lenders to fund the loans.

If convicted on all counts, Hernandez faces a maximum penalty of 30 years in federal prison per count. The indictment also notifies the defendant that the United States is seeking an order of forfeiture in the amount of $157,500, the proceeds of the charged criminal conduct. United States Attorney Gregory W. Kehoe made the announcement.

An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

This case was investigated by the Federal Housing Finance Agency – Office of Inspector General, the U.S. Department of Housing and Development – Office of Inspector General, the Federal Bureau of Investigation, and the U.S. Small Business Administration – Office of Inspector General.  It will be prosecuted by Special Assistant United States Attorney Chris Poor.

On April 7, the Department of Justice announced the creation of the National Fraud Enforcement Division. The core mission of the Fraud Division is to zealously investigate and prosecute those who steal or fraudulently misuse taxpayer dollars. Department of Justice efforts to combat fraud support President Trump’s Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.

 

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Former D.C. Housing Authority Employee Pleads Guilty to $15 Million Mortgage Fraud Scheme

Stephanie Abbott —  June 3, 2026 — Leave a comment

Richard Cunningham, 55, a former D.C. Housing Authority employee turned real estate developer residing in the District of Columbia, pleaded guilty today in U.S. District Court in connection with a scheme to defraud private mortgage lenders of more than $15 million.

Cunningham pleaded guilty today before Judge Trevor N. McFadden to charges of false statements to a mortgage lending business

According to court documents, beginning in or about August 2020 and continuing through May 2024, Cunningham engaged in a scheme to defraud private mortgage lenders by submitting false statements and fraudulent documents in support of loan applications for multifamily properties he owned or controlled in the District of Columbia.

In the first phase of the scheme, Cunningham applied for six secondary renovation loans from a Virginia-based private mortgage company, which required him to have sufficient equity in his properties as collateral. Knowing his equity was insufficient to qualify, Cunningham submitted falsified mortgage statements for the primary loans on those properties, significantly understating the balances owed to make his equity appear greater than it was. Relying on those falsified documents, the lender funded all six loans, totaling about $7.4 million.

In the second phase, Cunningham sought renovation financing from an Oregon-based private mortgage company for two additional District properties. To make those properties appear to generate reliable income, Cunningham fabricated lease documents purporting to be from a “Veterans Assistance Payments” program run by the U.S. Department of Housing and Urban Development. There is no such program. In reality, Cunningham had taken genuine Housing Assistance Program lease documents from HUD’s Housing Choice Voucher program and altered them, changing “HAP” to “VAP” throughout, then filled them in with forged entries and signatures to make it appear veterans were already living at the properties under a federal voucher program. He also submitted fabricated rent rolls falsely showing all tenants held vouchers from the Department of Veterans Affairs. The lender funded one of the two loans, in the amount of $4.7 million. The other application was rejected.

In total, Cunningham sought about $14.9 million from the two lenders and received about $12.1 million based on his false statements.

Cunningham faces a maximum statutory penalty of 30 years in prison and a $1 million fine. Sentencing was scheduled for Dec. 4, 2026.

The announcement was made by U.S. Attorney Jeanine Ferris Pirro.

The investigation was conducted by the FBI Washington Field Office and the Department of Housing and Urban Development, Office of Inspector General (HUD-OIG).

The matter was prosecuted by HUD-OIG Special Assistant U.S. Attorney Samantha R. Miller for the U.S. Attorney’s Office for the District of Columbia.

On April 7, the Department of Justice announced the creation of the National Fraud Enforcement Division. The core mission of the Fraud Division is to zealously investigate and prosecute those who steal or fraudulently misuse taxpayer dollars.  Department of Justice efforts to combat fraud support President Trump’s Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.

 

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Former Mayor Sentenced to Prison For Mortgage Fraud in Connection with Fraudulent Short Sale

Stephanie Abbott —  June 1, 2026 — Leave a comment

Nathaniel Anderson, 59, a town councilman and the former Mayor of Willingboro, New Jersey, was sentenced to prison for committing mortgage fraud in connection with a fraudulent short sale of real estate.

According to documents filed in this case and the evidence at trial:

From March 2015 through June 2017, Nathaniel Anderson and Chrisone Anderson, 58, conspired and agreed to orchestrate a fraudulent short sale of a property in Willingboro from Nathaniel Anderson to Chrisone Anderson.

As part of the conspiracy to defraud a government-sponsored enterprise to discharge a mortgage obligation on Nathaniel Anderson’s property in Willingboro and to induce a mortgage lending business to issue a new mortgage on the property, Chrisone Anderson executed – and Nathaniel D. Anderson aided and abetted the execution of – mortgage documents containing materially false representations. These included that the short sale was an arm’s length transaction, that Chrisone Anderson did not have a prior business relationship with Nathaniel Anderson, that Nathaniel Anderson would not continue to occupy the property as his residence following the short sale, and that Chrisone Anderson would occupy the property as her primary residence.

As a result of the fraudulent short sale, the government-sponsored enterprise discharged Nathaniel Anderson’s mortgage obligation, causing a total loss of over $200,000, and the victim lender issued a new mortgage on the property. , and his business associate

Nathaniel Anderson and Chrisone Anderson, 58, were previously convicted by a federal jury of one count of conspiracy to commit wire fraud affecting a financial institution, one count of bank fraud, and two counts of making a false statement on a mortgage application.

On June 1, 2026, U.S. District Court Judge Robert Kirsch sentenced Nathaniel Anderson to 12 months and one day in prison, to be followed by a three-year term of supervised release.  Chrisone Anderson was sentenced to eight months’ home confinement to be followed by a three-year term of supervised release.  Both Nathaniel Anderson and Chrisone Anderson were ordered to pay restitution to the victims in the total amount of $221,9862.71.

U.S. Attorney Robert Frazer made the announcement.

U.S. Attorney Frazer credited special agents of the FBI, Newark Division, Trenton Resident Agency, under the direction of Special Agent in Charge Stefanie Roddy in Newark; and special agents of the Northeast Region of the Federal Housing Finance Agency, Office of the Inspector General, under the direction of Special Agent in Charge Robert Manchak, with the investigation leading to the charges.

The government is represented by Assistant U.S. Attorney Joseph McFarlane of the Special Prosecutions Division, and Assistant U.S. Attorney Andrew M. Trombly, Deputy Chief of the Criminal Division in Newark.

 

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11 Arrested on Charges They Used Stolen Identities to Fraudulently Obtain Loans

Stephanie Abbott —  March 19, 2026 — Leave a comment

Eleven defendants – including two foreign nationals – were arrested today on a 15-count federal indictment charging them with executing a scheme in which they stole the identities of elderly victims, used that information to obtain title reports for residential properties, then solicited millions of dollars in hard money loans from private lenders by falsely representing the loans as being secured by the elderly victims’ properties.

The following defendants were arrested this morning and all but two of them are expected to be arraigned this afternoon:

  • Nazaret Chakrian a.k.a. “Niko”, 65, Hollywood, California;
  • Arnold Moradians a.k.a. “Julian”, 57, Hollywood, California, an Iranian national who has an outstanding warrant for removal from the United States;
  • Avetis Hekimyan a.k.a. “Chef Avo” ,38, North Hollywood, California;
  • Ross Tarkhan, 32, Glendale, California;
  • Tigran Hovanesian, 56, Glendale, California;
  • Armen Vardevaryan, a.k.a. “Gonch” ,55, North Hollywood, California;
  • Craig Higdon, 66, Naples, Florida, who will make his initial appearance in the Middle District of Florida;
  • Helen Spangler, 62, Oakdale, California, who will make her initial appearance in the Eastern District of California;
  • Victor Lossi, 43, Thousand Oaks, California; and
  • Marine Sarkisian, 49, Hollywood, California , an Azerbaijani national and green card holder.

The following defendant arrested today is expected to be arraigned tomorrow in Los Angeles federal court:

  • Cynthia Borjas, 51, Koreatown.

According to the indictment that a federal grand jury returned on February 5, 2026, from January 2021 to May 2023, Chakrian and Moradians fraudulently obtained the personal identifying information (PII) of elderly victims. The victims owned properties in Santa Monica and in the following Los Angeles neighborhoods: Hollywood, Hollywood Hills, Westwood, and Chinatown, California.

Chakrian and Higdon then used the victims’ PII to create counterfeit identification documents. Borjas and Hekimyan created email accounts in the victims’ names to impersonate them.

Using the victims’ PII, the fraudulent ID documents, and the fraudulent email addresses, Chakrian, Moradians, Hekimyan, Vardevaryan, and Spangler misrepresented themselves as the victims’ agents, brokers, representatives or relatives, and submitted fraudulent applications to private money lenders for hard money loans secured by the victims’ properties.

Chakrian, Hekimyan, Higdon, and Spangler created false and fabricated documents – including bank statements, rental agreements, doctors’ notes, and death certificates – to the lenders. These documents contained lies about the victims’ identities, assets, finances, and health as well as the loan proceeds’ intended purpose, and the types of properties being used to secure the loans.

Upon receiving closing documents from the lenders, Chakrian, Hekimyan, Lossi, and Sarkisian caused the documents to be fraudulently notarized and signed by individuals representing the victims.

Tarkhan used stolen PII to create synthetic identities – profiles or ID documents combining fictitious profile information with real victim PII. Using these synthetic identities, Tarkhan caused bank accounts to be opened under false names. These accounts were used to funnel proceeds derived from the scheme.

Private money lenders relied on the false statements, misrepresentations, and certifications to cause funds to be disbursed via check and wire to mailboxes and bank accounts controlled by Chakrian, Tarkhan, and others.

The total intended loss in this case is approximately $17.4 million, and the total actual loss is approximately $6 million.

All defendants except Hovanesian are charged with one count of conspiracy to commit wire fraud and seven counts of wire fraud. Chakrian, Moradians, Borjas, Hekimyan, Tarkhan, Spangler, Lossi, and Sarkisian are charged with one count of aggravated identity theft. Chakrian, Moradians, Tarkhan, and Hovanesian are charged with one count of conspiracy to commit money laundering. Tarkhan is further charged with five counts of money laundering.

“There is no shortage of massive fraud occurring within California,” said First Assistant United States Attorney Bill Essayli. “Today’s operation represents one of many sophisticated schemes used by criminals – including foreign nationals – to defraud U.S. citizens and taxpayers of their hard-earned property. Those days are over under this U.S. Department of Justice. These defendants will be facing significant prison time for their charged conduct.”

“The growing problem of title fraud victimizes homeowners and lenders, many of whom are elderly and have their identities stolen, in addition to their hard-earned money,” said Akil Davis, the Assistant Director in Charge of the FBI’s Los Angeles Field Office. “An investigation by the FBI Eurasian Organized Crime Task Force, LAPD, and other law enforcement partners led to today’s arrests of multiple perpetrators of this cruel scheme who now face lengthy prison sentences.”

“The defendants didn’t just steal identities, they used those stolen identities to secure high value real estate loans, fabricate financial documents, and move millions of dollars through a maze of fraudulent businesses and funnel accounts,” said Tyler Hatcher, Special Agent in Charge, IRS-CI Los Angeles Field Office. “Our agents traced every wire, every transfer, and every shell account to expose the financial backbone of this conspiracy. This indictment sends a clear message, IRS CI will dismantle the money pipelines that allow complex fraud schemes to flourish, and we will hold accountable those who profit from exploiting our financial system.”

“This case reflects the relentless work of our investigators and the strong collaboration with our federal partners to unravel a complex and calculated criminal scheme,” said Interim Glendale Police Chief Robert William. “Their focus and determination ensured those responsible are held accountable and that justice is delivered.”

An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent until and unless proven guilty in court.

If convicted, the defendants would face a statutory maximum sentence of 20 years in federal prison for each fraud- and money laundering-related count, and a mandatory consecutive sentence of two years in federal prison for the aggravated identity theft count.

This case is being investigated by the Eurasian Organized Crime Task Force (EOCTF) and the Los Angeles Police Department – Commercial Crimes Division. The EOCTF includes agents and task force officers from the FBI, IRS Criminal Investigation, the United States Postal Inspection Service, the Los Angeles County Sheriff’s Department, and the Glendale Police Department.

Assistant United States Attorneys Claire E. Kelly of the General Crimes Section and Hava Mirell of the Criminal Appeals Section are prosecuting this case.

 

 

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Licensed Mortgage Loan Officer Charged with Fraud

Stephanie Abbott —  March 10, 2026 — Leave a comment

Jason Morales, 44, Chagrin Falls, Ohio, has been indicted on six counts of bank fraud in a mortgage fraud scheme.

According to the indictment, Morales concocted and executed a mortgage fraud scheme targeting a financial institution. To ensure that otherwise unqualified borrowers were approved for mortgage loans, Morales created fictitious and fraudulent paystubs and other employment documents in the name of a construction company and consulting company that his clients never worked for. The bogus income documents falsely indicated that his clients had worked at these companies and had monthly earnings. Additionally, Morales altered legitimate bank statements provided by the borrowers and created fictitious bank statements that he submitted to the financial institution falsely representing that the borrowers had sufficient assets to qualify for the mortgage loans. Morales submitted the fictitious documents he created to the financial institutions who relied on them when making underwriting decisions.

To further deceive the financial institution, Morales created websites for the construction and consulting companies listing his email and phone number so that when the lenders called to verbally verify employment Morales impersonated company executives and falsely verified employment.

If convicted, Morales faces a maximum penalty of 30 years in federal prison on each count. U.S. Attorney Gregory W. Kehoe made the announcement.

An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

This case was investigated by the Federal Housing Finance Agency – Office of Inspector General, U.S. Department of Housing and Urban Development – Office of Inspector General, and Federal Bureau of Investigation. It will be prosecuted by Special Assistant United States Attorney Chris Poor.

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Prominent Lawyer Convicted of Mortgage Fraud

Stephanie Abbott —  February 26, 2026 — Leave a comment

Thomas C. Goldstein, 55, Chevy Chase, Maryland, has been convicted for making false statements to mortgage lenders, tax evasion, assisting with preparing false tax returns, willfully failing to timely pay taxes.

According to evidence presented at trial, between 2016 and 2023, Goldstein served as sole owner of Goldstein & Russell, P.C., a boutique law firm specializing in appellate litigation, including litigation before the United States Supreme Court. Goldstein was also a high-stakes poker player, frequently playing in games involving tens of millions of dollars.

In 2021, Goldstein submitted false mortgage applications to two separate mortgage lending companies, seeking financing to purchase a $2.6-million home in Washington, D.C. On those mortgage applications — which required Goldstein to list all his liabilities and debts — he omitted millions of dollars of liabilities, including more than $14 million he owed at the time on two promissory notes, as well as taxes he owed the IRS. His false statements to one of the mortgage lenders enabled him to obtain a $1.98-million loan.

Also during that timeframe, Goldstein stopped paying taxes on time, as required by law, and engaged in a scheme to evade paying his taxes for 2016. Goldstein took various steps to carry out the scheme, including concealing millions of dollars in poker wins and losses from the government. He also diverted legal fees, payable to his law firm, to his personal bank account to satisfy poker-related debts; directed people to pay his creditors instead of sending payments directly to him; and used the law firm’s assets to satisfy his poker debts. Then he caused those payments to be falsely classified as “legal-fee” expenses on the firm’s books and records. As a result, Goldstein underreported his income and did not pay all the taxes that he owed. Instead of paying his taxes, he spent millions on personal expenses such as poker, travel, and luxury goods.

Goldstein faces a maximum penalty of five years in prison for tax evasion, three years for each count of helping to prepare false tax returns, one year for each count of willful failure to pay taxes, and 30 years for each count of making false statements to mortgage lenders.

Kelly O. Hayes, U.S. Attorney for the District of Maryland, announced the conviction with Assistant Attorney General A. Tysen Duva, Department of Justice (DOJ) – Criminal Division; Special Agent in Charge Kareem A. Carter, Internal Revenue Service – Criminal Investigation (IRS-CI), Washington, D.C. Field Office; and Assistant Director in Charge Darren Cox, FBI – Washington Field Office.

“Goldstein chose fraud and deceit over honesty and tried to cheat the American taxpayer while living a lavish lifestyle.  He gambled that he wouldn’t get caught – and that gamble did not pay off,” Hayes said. “Our office, along with our law-enforcement partners, is committed to holding those accountable who break the law – no matter who they are.”

“I thank the jurors for their service and careful attention during this lengthy trial,” Duva said. “This verdict holds Thomas Goldstein accountable for cheating the tax system and lying to mortgage lenders. Mr. Goldstein is a sophisticated attorney who concealed millions of dollars in income, manipulated his law firm’s books and deceived lenders – all to fund his gambling and lifestyle. This investigation, prosecution, and conviction reflect the dedicated work of the prosecutors and agents who brought this case to trial on behalf of the United States. The Criminal Division will continue to pursue those who evade their tax obligations and mislead financial institutions.”

“This is precisely the type of conduct IRS Criminal Investigation, and our law enforcement partners are committed to deterring,” Carter said. “Today’s conviction of the defendant sends a clear message, that we have the tools and resolve to protect our tax system by investigating, prosecuting, and holding accountable, those who seek to defraud the United States.”

“Mortgage laws exist to protect lenders and borrowers from fraudsters like Goldstein,” Cox said. “His conviction should serve as a message to all prospective homebuyers: The FBI will investigate and bring to justice individuals who try to cheat the system by lying on their mortgage applications, so we can level the playing field for every hardworking American who wishes to buy a home.”

A federal district court judge determines sentencing after considering the U.S. Sentencing Guidelines and other statutory factors. The sentencing date has not been set.

U.S. Attorney Hayes commended the IRS-CI and FBI for their work in the investigation. Ms. Hayes also thanked Assistant U.S. Attorney Adeyemi Adenrele, along with Senior Litigation Counsel Sean Beaty and Trial Attorneys Emerson Gordon-Marvin and Hayter L. Whitman, DOJ Criminal Division Tax Section, who are prosecuting this federal case.

For more information about the Maryland U.S. Attorney’s Office, its priorities, and resources available to report fraud, please visit justice.gov/usao-md and justice.gov/usao-md/report-fraud.

 

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Arrests Made on Complaint for Fraudulently Selling $1.5 Million Home Owned by Victim

Stephanie Abbott —  February 11, 2026 — Leave a comment

Glenis Cardona, 63, Highland, CA, a licensed real estate broker who operates an escrow business , Ivan Reyes, 50, Van Nuys, California and  Arshak Akopyan, a.k.a. “John Akopyan,” 46, Northridge, California were arrested today on a federal criminal complaint alleging they fraudulently sold a $1.5 million Burbank house – whose owner had his home sold out from under him – by using the stolen identifies of that victim homeowner and that of a purported buyer to obtain a near-$1 million loan.

According to an affidavit filed on January 30, 2026, with the complaint, the defendants in late 2023 and January 2024 successfully executed the fraudulent sale of a $1.5 million home in Burbank, California through which they secured approximately $975,000 in loan proceeds.

To complete this transaction, they used the stolen identities of the victim homeowner and a purported buyer. Through her company, Golden Escrow, which has offices in Downey and Sherman Oaks, California, Cardona obtained a report to evaluate whether the Burbank property was encumbered with liens, such as legal judgments.

The defendants also prepared fraudulent documents, including false identity cards, a purchase agreement, a grant deed, a deed of trust, and loan applications, and falsely notarized the deeds. These false documents and information were submitted to a lender who funded the loan.

Cardona purported to represent the victim seller and the victim buyer – even though neither authorized the transaction – and controlled escrow. Tikriti used the victims’ stolen identities to impersonate both the victim seller and the victim buyer. Reyes and Akopyan acted as mortgage brokers and submitted fraudulent loan applications to solicit lenders to fund the illicit transaction.

After the victim lenders deposited the funds in escrow, Cardona directed the funds to various third-party entities so the schemers could collect their fraudulently obtained money.

The scheme’s victims include the owner of the Burbank house, who lost ownership of the home; the victim buyer, who became obligated to pay back the $975,000 mortgage; the lender, a mortgage lending business that unwittingly approved the funded the loan; and the title company, who unwittingly insured the transaction.

Law enforcement continues to search for defendant Basil Tikriti, 54, Marina del Rey, California who is at large.

A complaint contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent until and unless proven guilty beyond a reasonable doubt in court.

If convicted, each defendant would face a statutory maximum sentence of 30 years in federal prison.

The FBI is investigating this matter with the help of the Burbank Police Department.

Assistant United States Attorney Kelly Larocque of the Transnational Organized Crime Section is prosecuting this case.

 

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Double-Dealing Duo Sentenced for Mortgage Fraud Scheme

Stephanie Abbott —  January 30, 2026 — Leave a comment

Roberta Leigh Dawson, aka Bird, 63, formerly of Alexandria and current resident of Norlina, North Carolina, and Edward Fitzgerald, 59, Fairfax, Virginia, two former financial services specialists were sentenced for conspiracy to commit mail and wire fraud affecting financial institutions relating to their unlawful use of client information to obtain loans.

According to court documents, Dawson, was a licensed loan officer with a local mortgage brokerage, and Fitzgerald purported to be a financial advisor with an expertise in real estate transactions and investments. Fitzgerald’s clients provided him with access to their money, financial information, and means of identification.

Fitzgerald passed his clients’ information to Dawson to obtain fraudulent real estate loans. In some instances, Fitzgerald and Dawson sold their victims’ homes without their knowledge, including to straw buyers. They would then strip out the equity and use it to pay their own expenses, among other things. They also used their victims’ personal information without their knowledge to obtain loans in their names and submitted to financial institutions loan applications that were replete with misstatements.

Dawson withdrew hundreds of thousands of dollars of victim cash from accounts she controlled after fraudulently diverting the funds into those accounts. Dawson routinely paid Fitzgerald’s credit card, which he used for extravagant travel, luxury items, and daily expenses, with more than $1 million in funds obtained from the fraud scheme.

Dawson pled guilty on September. 24, 2025, and was sentenced today to two years and six months in prison. Fitzgerald pled guilty on September. 16, 2025, and was sentenced on January 20, 2025, to five years in prison.

The FBI Washington Field Office investigated this case.

Assistant U.S. Attorneys Russell L. Carlberg and Annie Zanobini and former Assistant U.S. Attorney Christopher J. Hood for the Eastern District of Virginia and Special Assistant U.S. Attorney Kimberly Pedersen, from Federal Housing Finance Agency, Office of Inspector General, prosecuted the case.

A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia. Related court documents and information are located on the website of the District Court for the Eastern District of Virginia or on PACER by searching for Case No. 1:25-cr-145.

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Man Pleads Guilty to Mortgage Fraud

Stephanie Abbott —  January 30, 2026 — Leave a comment

Ken Yiu, 49, of New York City, New York, pleaded guilty today to submitting a false mortgage loan application and maintaining a marijuana-involved premises.

According to court records, Yiu, purchased a house in Saint Albans, New York, using an $80,000 residential mortgage loan he obtained from a Maine bank. To receive the funding, Yiu submitted a loan application in which he answered “Yes” to the question, “Do you intend to occupy the property as your primary residence?” Yiu never intended to occupy the property in Saint Albans as a residence. From September 2020 through January 2024, he instead used the property to grow and distribute marijuana.

In December 2024, federal law enforcement agents interviewed Yiu. During the interview, Yiu admitted selling marijuana he grew at his property in Saint Albans to buyers in Massachusetts. A federal search warrant for the property was executed in January 2025. The search confirmed that the property had been used and maintained by Yiu to grow and distribute marijuana.

Yiu faces up to 30 years in prison and a maximum fine of $1 million for the mortgage fraud count and 20 years in prison and a maximum fine of $500,000 for the drug count. He will be sentenced after the completion of a presentence investigative report by the U.S. Probation Office. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

Neither Yiu nor his property was licensed through the Maine Office of Cannabis Policy.

The FBI, U.S. Drug Enforcement Administration, Homeland Security Investigations, and IRS Criminal Investigation investigated the case.

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Title Company Owner Sentenced for Embezzlement

Stephanie Abbott —  January 29, 2026 — Leave a comment

Jonathan Yasko, 46, Winter Springs, was sentenced for embezzlement.

According to court documents, Yasko owned or controlled various title companies that conducted real estate settlement services and issued title insurance policies on behalf of title insurance underwriters. Each of Yasko’s title companies was required to deposit the funds it received from the lenders, buyers, and homeowners into an escrow account to segregate these monies from its own funds and were also legally required to disburse the lender’s funds in the manner specified in the instructions sent by the financial institutions. Yasko’s title companies also had a fiduciary duty to the financial institutions and were required to act in the best interests of the party providing the funds, rather than using these funds for its own self-interest.

From January 2021 through August 2023, Yasko engaged in a scheme to defraud financial institutions through the use of interstate wires. As part of his scheme, Yasko promised to keep the financial institution’s funds segregated in escrow accounts prior to closing in according with Florida law; promised to disburse the financial institution’s funds that were sent via interstate wire transfers affecting interstate commerce in accordance with the financial institution’s closing instructions; initiated fraudulent interstate wire transfers of the lender funds from the segregated escrow accounts to other escrow accounts that had insufficient funds to conduct separate closings; and initiated fraudulent interstate wire transfers of lender funds from the segregated escrow accounts to Yasko’s title company operating accounts for illicit purposes and embezzled mortgage lenders funds, which prevented the real estate settlements from taking place. As a result, the title insurance underwriter paid out settlements to the victim financial institutions. Numerous botched real estate closings involved mortgage loans purchased or owned by Freddie Mac.

In exchange for his role in the scheme to defraud, Yasko also received ill-gotten title insurance premiums. Yasko has agreed to forfeit $201,004.57, the proceeds of the charged criminal conduct.

Yasko has been sentenced by U.S. District Judge Julie S. Sneed to 27 months in federal prison for wire fraud. Yasko pleaded guilty on May 22, 2025. U.S. Attorney Gregory W. Kehoe made the announcement.

 

This case was investigated by the Federal Housing Finance Agency – Office of Inspector General and the Federal Bureau of Investigation. It was prosecuted by Special Assistant United States Attorney Chris Poor.

 

 

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