John Pitlick, 44, New Hope, Minnesota, who had been charged with mail fraud, was sentenced on August 26, 2011, by Chief US District Judge Karen E. Schreier to 30 months in prison, three years of supervised release, $300,000 in restitution, and a $100 assessment to the Victim Assistance Fund.
Continue Reading...Archives For Mortgage Fraud
Alex Gambini, 44, Greeley, Pennsylvania, the former owner of a financial services firm was sentenced to spend more than four years in prison for participating in a scheme to fraudulently inflate mortgages during 1999-2002.
Continue Reading...
Kathleen Harps, 51, Chesapeake, Virginia, pleaded guilty in federal court to conspiring to commit mail and wire fraud in connection with a scheme to fraudulently obtain mortgage loans.
Continue Reading...
Corvus Law Group is mailing ads to Idaho homeowners inviting them to join scam lawsuits against their mortgage lenders. The ads look like government forms and claim homeowners can get large principal reductions or other monetary relief if they join the lawsuit.
Continue Reading...
James Hurst Miller Jr., 63, Paso Robles, California, was charged with federal fraud and money laundering offenses for allegedly bilking victims who invested into Central Coast real estate projects””money that was siphoned off for other purposes.
Continue Reading...
Consumers are being warned to be wary of any notices or advertisements that claim to offer homeowners facing foreclosure “complete forgiveness of the loan” or other monetary relief if they join a class-action lawsuit. Such ploys are likely a pretext to collect illegal up-front fees for foreclosure assistance.
Continue Reading...
Vincent J. Garcia, 59, Albuquerque, New Mexico, a real estate developer, pleaded guilty to committing bank fraud in the amount of $365,677 under a plea agreement with the United States Attorney’s Office.
Continue Reading...
Kenneth Steward, 45, South Holland, Illinois, was sentenced to 17½ years in federal prison for directing a $35 million mortgage fraud scheme involving more than 120 residences on the city’s south side. The scheme caused various lenders and financial institutions to lose approximately $16 million on mortgage loans that were not repaid by the borrowers or fully recovered through subsequent foreclosure sales.
Continue Reading...
Kevin D. O’Connell, 62, Albany, New York, pled guilty on Wednesday, August 17, 2011, to one count of conspiracy to commit bank fraud and mail fraud in connection with his role in a real estate investment fraud scheme.
Continue Reading...
Michael Williams, 33, Jersey City, New Jersey, admitted his role in a $40.8 million mortgage fraud conspiracy, serving as a “straw buyer” to cause a lender to release more than $632,000 based on a fraudulent mortgage loan application
Continue Reading...