Former state Senate and Assembly candidate Bruce Alston faces up to three years in prison and $133,500 in restitution after pleading guilty today to theft by deception stemming from a 27-count indictment alleging a sophisticated mortgage fraud scheme.
Source: Former state office candidate admits mortgage scam, faces 3 years in prison | NJ.com
A Shaler man whose original eight-year sentence was overturned by a federal appeals court was sentenced Monday to six years in prison for his role in a multimillion dollar mortgage fraud scheme. A Pittsburgh federal jury convicted Jason Moreno, 33, on five counts of wire fraud and two counts of conspiracy in September 2013.
Source: Ex-appraiser sentenced to 6 years for mortgage fraud | TribLIVE
“This is just a horrible crime,” Royal told Williams. “It is outrageous that you would take advantage of people like this.” Turning to the victims in the rear of the courtroom, Judge Royal said, “You people have lost this money. You may get some of it back. But based on my experience, it is very difficult to get restitution. I am very sorry you had to suffer the losses you did. I think it is a terrible crime.”
Source: Payment to fraud victims unlikely, says U.S. District Judge – Oconee Enterprise: News
John and Julieanne Dimitrion scammed good people out of their homes, the FBI says, and then they disappeared.They were the “masterminds of a large fraud scheme,” the FBI’s Brandon Simpson told CNN’s “The Hunt with John Walsh,” which hit Tricia Dano’s family especially hard.
Source: FBI: Gov’t conspiracy group may have aided fugitives – CNN.com
LAKEWOOD, Wash. — A Lakewood family has been torn apart by a suspected mortgage fraud. A Seattle woman is accused of cashing her aunt’s mortgage checks instead of paying off the loan, and the aunt believes there are dozens of scam victims.Sue Kahawaii and her family had lived in their Lakewood home for 27 years. Now they say they’ve lost it to foreclosure because of the actions of a loved one, Alicia Shefchik. They say she spent the money on world travel and Super Bowls.
Source: Lakewood family torn apart by a suspected mortgage fraud | KOMO
Former NFL wide receiver Irving Fryar is out of prison after serving just eight months of a five-year sentence for mortgage fraud.
Source: Irving Fryar released after 8 months of 5-year prison sentence | ProFootballTalk
The scheme is used by borrowers who don t have enough income to qualify for a regular mortgage, so they apply for a higher rate non-owner-occupied loan.
Source: National Mortgage News – A New Type of Occupancy Fraud: Fake Investors
Former execs cleared on some charges
Source: Jury issues mixed decision in Thornburg fraud case | Albuquerque Journal
