Archives For November 30, 1999

Three Sentenced for Running Sophisticated Real Estate Fraud Scheme

Stephanie Abbott —  October 29, 2019 — Leave a comment

Angela Grace Cotton, 47, Denaysha Coleman, 27, Lawrence Edward Cotton, 52 have been sentenced for running a sophisticated real estate fraud scheme that resulted in the theft of more than $1.4 million from 2014 to 2016.

From July 2014 through September 2016, Cotton, assisted by her co-defendants, used fictitious escrow and title companies that she had created to deceive a lending company into believing it was funding two legitimate real estate transactions.

The group stole the identities of nine people in order to facilitate the fictitious real estate sales. Along with the fake escrow and title companies, the defendants created a fictitious place of employment for one supposed homebuyer under whose name the two loans were approved, the prosecutor said.

To convince the lender of the legitimacy of the transactions and the entities involved, the defendants created fraudulent websites, emails and phone networks along with fake employment documentation and bank account statements from a non-existent financial institution for the borrower.

The lender transferred funds to a bank account it believed to be owned by a legitimate title company but was allegedly owned by one of the defendants.

The properties for which the defendants received loans were located in Los Angeles and La Cañada Flintridge and had not been listed for sale, the prosecutor added.

Cotton was sentenced yesterday to 12 years in state prison after pleading no contest to three counts of identity theft, two counts of grand theft and one count each of forgery and money laundering, all felonies.

Coleman was sentenced to three years and eight months in state prison after pleading no contest to one felony count each of grand theft and money laundering.

Cotton was sentenced to two years in state prison after pleading no contest to one felony count each of grand theft and money laundering.

All three defendants admitted allegations of fraud and embezzlement resulting in the loss of more than $500,000.

They are required to pay more than $1.4 million in restitution under the terms of a negotiated plea agreement.

A fourth defendant, Latrese Gevon Breaux, 47, pleaded no contest on February 14, 2019 to one felony count each of grand theft and identity theft, and she admitted an allegation of fraud and embezzlement.

She is expected to be sentenced to five years of formal probation and 106 days in county jail for time served on December 4, 2019 in Department 50 of the Foltz Criminal Justice Center. She also is required to complete 200 hours of community service under the terms of a plea agreement.

The Los Angeles County District Attorney’s Office made the announcement today.

Deputy District Attorney Daniel Kinney of the White Collar Crime Division’s Real Estate Fraud Section prosecuted case BA472018.

The case was investigated by the Los Angeles County Sheriff’s Department, Fraud and Cyber Crimes Bureau.

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Woman Sentenced to 75 Months in Mortgage Fraud Scheme

Stephanie Abbott —  October 18, 2019 — Leave a comment

Latrice Calvin, 48, Collierville, Tennessee was sentenced in connection with a scheme to defraud mortgage lending institutions and individuals of more than $1.5 million dollars.

According to the information, between April 2016, and October 2018, Calvin, through her company, Trinity Home and Investments, made false statements and representations to mortgage lenders and individuals to induce them to fund mortgage loans and invest monies with Trinity.

Calvin entered a plea of guilty to a one-count information charging her with wire fraud in May 2019.

On October 18, 2019, United States District Judge John T. Fowlkes, Jr., sentenced Calvin to 75 months imprisonment followed by 4 years of supervised release. She was also ordered to pay restitution to the lenders and investors in the total amount of $1,524,564.28 and to pay a money judgment to the United States in the same amount.

U.S. Attorney D. Michael Dunavant announced the sentence today.

U.S. Attorney D. Michael Dunavant said, “Financial fraud can happen anywhere, and can be devastating to lending institutions and individual investors. The defendant used her position of trust and authority to steal proceeds for her personal benefit, and her dishonesty has been exposed. We are pleased that justice has been achieved on behalf of the victims, and we commend the FBI for their outstanding investigation in this disturbing case. Wherever fraud occurs in the Western District of Tennessee, this office will be prepared to hold offenders accountable.”

The Federal Bureau of Investigation investigated this case.

Assistant U.S. Attorney Carroll L. André III prosecuted this case on behalf of the government.

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Man Arrested For Mortgage Fraud Scheme Targeting Immigrant Families

Stephanie Abbott —  October 18, 2019 — Leave a comment

Nuhu (aka Nurden aka Noah) Mohammed, 60, Foxborough, Massachusetts has been indicted, arrested, and arraigned today in connection with a mortgage fraud scheme that largely targeted immigrant families.

The AG’s Office alleges that between October 2012 and July 2019, Mohammed repeatedly represented himself as a mortgage broker or lawyer, promising victims that he could provide assistance in securing mortgages and/or loan modifications. While Mohammed allegedly collected thousands of dollars from these victims, many of whom were at risk of foreclosure, he did not provide any meaningful assistance in securing these mortgages or modifying loans. He also allegedly directed his clients to forward all correspondence between clients and loan servicers to him and asked any letters to remain unopened to prevent them from discovering that he had not provided any assistance.

As a result of these alleged actions, one affected family lost two properties to foreclosure, and all of the victims lost significant amounts of money. Investigators allege that Mohammed primarily targeted immigrant families and exploited their lack of knowledge about the residential mortgage and/or loan modification process, as well as their limited English language proficiency, to steal from them.

The AG’s Office also alleges that Mohammed used the personal identifying information of one of his victims to open two credit cards in her name without her knowledge or consent.

In total, the AG’s Office alleges that Mohammed stole $152,333 from clients, including the money that he charged on the alleged fraudulent credit cards.

Mohammed was arrested on Thursday by Massachusetts State Police assigned to the AG’s Office in Boston. He was arraigned today in Norfolk Superior Court and was held on $50,000 bail. He was ordered to have no contact with the victims, and if he posts bail, he will be required to meet weekly with probation officers and not leave the state. He is due to appear in Norfolk Superior Court on November 15, 2019 for a status hearing.

Mohammed was indicted by a Statewide Grand Jury on the charges of Larceny Over $250 (1 count), Larceny Over $250 by Single Scheme (6 counts), Larceny Over $1,200 by Single Scheme (3 counts), Forgery (1 count), Uttering (1 count), Identity Fraud (2 counts), False Material Statements or Omissions During or In Connection with Mortgage Lending Process (4 counts), Fraudulent Use of Credit Cards to Obtain Money, Goods or Services (2 counts), and Common and Notorious Thief (1 count).

Attorney General Maura Healey made the announced.

This case was referred to the AG’s Office by the Stoughton Police Department.

These charges are allegations and the defendant is presumed innocent until proven guilty.

This investigation is ongoing, and the AG’s Office believes that this defendant has used several aliases to hide his identity. If any member of the public believes they may have been victimized by this conduct or has any information relating to others who may have been victimized, they are encouraged to contact the White Collar and Public Integrity Division of the Attorney General’s Office.

This case is being prosecuted by Assistant Attorney General Gretchen Brodigan and Assistant Attorney General Sara Yoffe, of the AG’s White Collar and Public Integrity Division, with assistance from Financial Investigator Anthony Taylor, Victim Witness Advocate Megan Murphy, the AGO’s Digital Evidence Lab, Massachusetts State Police assigned to the AG’s Office, and the Stoughton Police Department.

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A.G. Announces Arrest & Indictment in Statewide Mortgage Fraud Scheme

Stephanie Abbott —  October 18, 2019 — Leave a comment

Steven Rogers, Robert Sedlar, and Audrey Gan, the operators of Grand View Financial, were indicted today on a 121-count felony indictment for allegedly operating a mortgage fraud scheme throughout California.

The victims, many of whom were elderly and in financial distress, sought mortgage relief services from Grand View Financial in the Counties of San Diego, San Mateo, Alameda, Contra Costa, San Joaquin, Placer, Solano, Mendocino, San Francisco, El Dorado, and Sacramento.

Between 2015 and 2019, the defendants allegedly conspired to steal money and homes from distressed homeowners using a company called Grand View Financial. The company launched a mortgage and foreclosure assistance program that advertised assistance to desperate homeowners facing foreclosure. The defendants promised consumers that if they transferred their house and paid money to Grand View Financial, the company would eliminate the mortgage lien and deed the home back to the homeowner, clear of any liens. During this time, the defendants allegedly filed false court proceedings, false documents with the county recorders offices, and false bankruptcies.

The trio was indicted by a grand jury in the Sacramento Superior Court for conspiracy, grand theft, elder abuse, filing false or forged documents in a public office, and engaging in a prohibited act as a foreclosure consultant.  The scheme resulted in a combined loss of over $7 million.

California Attorney General Xavier Becerra made the announcement.

“Individuals who prey on vulnerable communities to enrich themselves will be held accountable by the California Department of Justice,” said Attorney General Becerra. “My office will continue to work with our law enforcement partners to identify and prosecute those who disregard the rule of law.”

The indictment and arrests are the result of a joint investigation by the California Department of Justice, Fraud and Special Prosecutions Section and White Collar Crime Team; the United States Office of Inspector General, Federal Deposit Insurance Corporation; the United States Office of Inspector General, Federal Housing Finance Agency; the United States Trustee Program; the United States Marshals Service; the Stanislaus County District Attorney’s Office; and the El Dorado County District Attorney’s Office.

Attorney General Becerra is committed to protecting Californians from mortgage fraud and other financial crimes. If you believe you may have been targeted by Grand View Financial, please contact the California Department of Justice. For those located in California, please call: 1-800-952-5225. For those located outside of California, please call: 1-916-322-3360.

It is important to note that a criminal indictment contains charges that must be proven in a court of law. Every defendant is presumed innocent until proven guilty.

A copy of the indictment can be found here.

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