James Merrill Roberts was sentenced to 37 months in prison to be followed by 60 months of supervised release in conjunction with Mail Fraud and Money Laundering charges related to a mortgage fraud scheme. In addition, Roberts was ordered to pay $609,991 in restitution.
Continue Reading...Archives For November 30, 1999
Kevin Powers, 51, Albuquerque, New Mexico, a real estate agent, was sentenced in United States District Court to a 56-month term of imprisonment for his conviction on 17 counts of wire fraud in connection with an unlawful scheme to defraud mortgage lenders and to obtain over $5.5 million in loan proceeds through false pretenses, misrepresentations, and omissions.
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Joseph Ulysses Grant, IV, 31, Jacksonville, Florida, a senior loan officer, was sentenced by U.S. District Judge Harvey Schlesinger to 30 months in federal prison for committing wire fraud. On May 12, 2011, Grant was found guilty by a jury of two counts of wire fraud.
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Barbara Lynnae Puro, 48, Savage, Minnesota, a real estate agent, has been indicted for her participation in a multi-million dollar mortgage fraud scheme that victimized lenders across the country.
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Richard A. Maize, 53, Beverly Hills, California, a West Los Angeles mortgage banker, has been sentenced to 18 months in federal prison for his role in a massive mortgage fraud scam that caused more than $18.5 million in losses to banks, including his former employer.
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Freedom Companies Lending, Inc., Minnesota, is the subject of a cease and desist order for allegedly engaging in mortgage modification activities in Idaho without a license and targeting Spanish-speaking Idaho homeowners by unlawfully charging them large upfront fees.
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Matthew Paul Kay, 36, a British citizen who formerly lived in West Los Angeles and the Park La Brea district of Los Angeles, California, a former real estate agent and mortgage broker charged with running a multi-million dollar mortgage fraud scheme was ordered held without bond after arriving in the United States to face federal fraud, identity theft and tax charges.
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Lawsuits have been filed against 17 financial institutions, certain of their officers and various unaffiliated lead underwriters. The suits allege violations of federal securities laws and common law in the sale of residential private-label mortgage-backed securities (PLS) to the Enterprises.
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Shafik Hirji, 53, Las Vegas, Nevada, who unlawfully obtained financing on the home of one of his acquaintances, was indicted on three counts of forgery and one count of theft for obtaining the loan on the victim’s home and embezzling the proceeds.
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In an effort to help families avoid mortgage scams, more than $10 million in housing counseling grants have been issued. This is unspent funding from the 2010 appropriation that was re-competed and awarded to HUD-approved counseling agencies.
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