Jeffrey Egan, Troy, Michigan, pleaded guilty to bank fraud in connection with an investment fraud scheme in which over a dozen victims were defrauded of over $1 million. Egan, operated a company called Real Estate Capital Group (RECG) from 2004 through 2008. He promised investors that their investments were fully secured with real estate.
Archives For Mortgage Fraud
Menachem Yosef Levitin, 27, New Haven, 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 Levitin’s participation in a $10 million mortgage fraud scheme in New Haven.
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Kelly Gearhart, 50, Wadsworth, Ohio, a real estate developer who formerly resided in Atascadero, California, was indicted on federal fraud and money laundering charges that accuse him of bilking investors who put money into Central Coast California real estate projects””money that was siphoned off for other purposes, including maintaining a lavish lifestyle.
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All Net Escrow, a purported online escrow company engaged in escrow transactions, has been issued a cease and desist order for a scam involving the sale of time share properties.
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Kevin Grady Sr., 48, Grand Rapids, Michigan, was sentenced for wire fraud, bank fraud and making false statements to the FBI and Edward Hessie Sumrell, 55, Grand Rapids, Michigan, was sentenced for making a false statement to the FBI, both in connection with a mortgage fraud scam.
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Scott Eric Perry, 35, Brookwood, Alabama, was sentenced to 18 months in prison on false statement charges related to an almost $750,000 mortgage fraud scheme in the Birmingham, Alabama area.
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Gaetano Antonell, 62, Brooksville, Florida, has been arrested and charged with organized fraud for his role in a foreclosure rescue scam. The defendant persuaded homeowners to deed their properties to him then he would list the properties on Craigslist for sale.
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Jason Dade, 37, Chicago, Illinois, a licensed real estate agent and the owner of Round Table Enterprises, Inc., Cheryl Ware, 47, Shorewood, Illinois, a licensed loan originator, Tiffini Chism, 36, Glenwood, Illinois, also a licensed loan originator, and Tamika Peters, 34, Country Club Hills, Illinois were indicted for allegedly participating in a scheme to fraudulently obtain at least 42 residential mortgage loans totaling approximately $9.1 million from various lenders.
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Paul R. Tomko, 39, Cleveland, Ohio, a former paid cooperator for a federal law enforcement agency, is the subject of an eight-count indictment for mortgage and student aid fraud.
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Paulo Montenegro, 45, and his wife, Rosana Pereira, 48, Weston, Massachusetts, have been sentenced in connection with fraudulently obtaining tens of thousands of dollars in Section 8 public housing subsidies and defrauding mortgage lenders.
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