Five people have been arrested by Federal authorities for their alleged involvement in a builder bailout real estate scheme that fraudulently purchased more than 100 condominium units around the country with mortgages that mostly went into default, resulting in foreclosures and millions of dollars in losses.
Continue Reading...Archives For November 30, 1999
Jon Nevins, 40, Leawood, Kansas, a straw buyer, was convicted in federal court of mortgage fraud.
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Homeowners should be on the lookout for a mailing that appears to be a legal document, but may be a ploy against mortgage consumers.
Richard Nobles, Granville, Ohio, was indicted by a federal grand jury and charged with conspiracy to commit bank fraud, bank fraud, conspiracy to commit money laundering, and money laundering for his role in a $2.5 million mortgage fraud scheme.
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Four people for the fraudulent conveyance of over twenty properties in the City and County of Philadelphia, Pennsylvania: Zachary Stokes, Oscar Ketter, Elhadi Ibrahim and Steven Johnson.
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Estrellita “Esther” Garo Miguel, 62, Honolulu, Hawaii, a mortgage broker who operated the business Easy Mortgage, was sentenced to 52 months’ imprisonment by Chief United States District Judge Susan Oki Mollway for her operation of a mortgage fraud and money laundering scheme.
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Frank Ferris, 71, Sacramento, California, pled no contest to one felony count of grand theft and three misdemeanor counts of collecting illegal up-front fees for loan modification services.
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Linda Kay Miller, 50, Alma, Kansas, pleaded guilty to mortgage fraud admitting that she submitted false documents in an attempt to secure a $200,000 loan.
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Michael Rumore, 54, Lyndhurst, New Jersey, an attorney formerly licensed in New Jersey, was arrested in connection with a long-running, large-scale mortgage fraud scheme that caused losses of more than $30 million.
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Kelvin Leonard Davis, 41, Birmingham, Alabama, a real estate lawyer, was charged with wire fraud in connection with a nearly $1 million mortgage fraud scheme.