Joann Smith, 47, and her boyfriend, Wayne Betha, 42, Ewing, New Jersey, who ran a real estate firm, pleaded guilty to stealing from home sellers by diverting proceeds from home sales, and also defrauding mortgage companies by falsifying the earnings of loan applicants.
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Adebowale Sheba, 41, Franklin Township, New Jersey, has pled guilty to mortgage fraud in connection with his use of an alias and false information to obtain a loan.
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David C. Christian, 62, Catonsville, Maryland, real estate appraiser, pleaded guilty to conspiracy to commit wire fraud.
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Wayne L. Palmer and his firm, National Note of Utah, LC, West Jordan, Utah, have been issued a temporary restraining order and have had their asset frozen by The Securities and Exchange Commission for allegedly operating a real estate-based Ponzi scheme that bilked $100 million from investors nationwide.
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Thomas Komasa, 47, and his wife Heidi Komasa, 39, Saugerties, New York, were convicted on charges stemming from an alleged mortgage fraud scheme.
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Jeffrey Russell Huldtquist, 47, Hoover, Alabama and William Crawford Kellum, 52, Homewood, Alabama have been indicted on charges they defrauded a bank by presenting false statements in order to obtain mortgage loans.
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Jeffrey Dillard Square, 50, Center Point, Alabama has been indicted for bank fraud in connection with a $61,000 mortgage loan scheme.
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Clayton A. Coe, 45, McDonough, Georgia, a former Senior Commercial Loan Officer for FirstCity Bank of Stockbridge, Georgia, which failed and was seized by the FDIC and state banking authorities in March 2009, pleaded guilty to bank fraud in connection with an $800,000 loan that he tricked FirstCity Bank’s Board of Directors into approving and from which he personally profited.
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Howard R. Shmuckler, 68, Virginia Beach, Virginia, was sentenced to 90 months in prison, followed by three years of supervised release, for running a fraudulent mortgage rescue business that received substantial fees but actually modified clients’ mortgages in only a few cases.
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Todd R. Bettin, 42, Crofton, Maryland, has been sentenced to 51 months in prison, followed by three years of supervised release, for conspiracy to commit wire fraud in connection with a five year scheme to divert or hold mortgage payoff funds from clients’ closings on 17 Maryland properties.
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