Mary Armstrong, a fugitive unlicensed loan broker from California, was arrested in Las Vegas, Nevada. The indictment charges Armstrong, a real estate agent Teresa Rose, and Armstrong’s assistant William Fountain with devising and executing a mortgage loan origination fraud and kickback scheme.
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Christopher Jon Andrews, 53, Inver Grove Heights, Minnesota, was indicted on July 10, 2012, in connection with soliciting buyers to purchase properties at inflated prices in a multi-million-dollar mortgage fraud scheme.
Charles Williams, 37, McKinney, Texas; Jarrod Williams, 33, McKinney, Texas; Julius Williams, 41, McKinney, Texas; Jemilat Williams, 33, Missouri City, Texas; and Christopher Carter, 33, Leicester, England, have been indicted for their roles in a combination foreclosure rescue/drug distribution scheme.
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Jesus Sira, 32, Nestor Urdaneta, 29, Maria Urdaneta, 32, and Vanessa Urdaneta, 28, Florida, have been indicted on one count of conspiracy to commit mail and wire fraud in relation to a mortgage fraud scheme.
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Bradford J. Rieger, 56, Woodbridge, Connecticut waived his right to indictment and pleaded guilty to one count of conspiracy to commit mail fraud, wire fraud and bank fraud. The charge stems from Rieger’s role as a closing attorney in a multimillion dollar mortgage fraud scheme in New Haven, Connecticut.
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Raymond Paul Morris, 51, South Weber, Utah, pleaded guilty in federal court for his involvement in a sophisticated multi-million-dollar mortgage fraud scheme linked to properties at a Putnam County, West Virginia, subdivision.
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Ronnie Edward Duke, 45, Fenton, Michigan, pleaded guilty in connection with an extensive multi-million dollar mortgage fraud conspiracy.
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Celia Gallardo, 42, North Hills, California, a real estate agent and self-described real estate investor charged with running a million dollar-plus Ponzi scheme out companies based in the Santa Clarita Valley, has been arrested on federal wire fraud and mail fraud charges.
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John Farano, 50, Palos Park, Illinois, and Charles Murphy, 65, Chicago, Illinois, both attorneys, were sentenced along with two others following their convictions for participating in a multi-million dollar mortgage fraud scheme involving at least 40 residential properties.
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With still-high delinquency and foreclosure rates, little economic progress in depressed markets, and unscrupulous individuals taking advantage of the financially disenfranchised, 2011 was a bleak year for the mortgage industry.
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