Robert E. Maloney, Jr., 47, McDonough, Georgia, was arraigned on federal charges before United States Magistrate Judge Janet F. King. A superseding indictment charges Maloney and two former top officers of “FirstCity Bank,” Stockbridge, Georgia: Mark A. Conner, 45,
Continue Reading...Archives For November 30, 1999
Joseph Bowen Brown, 30, pleaded guilty in federal court conspiracy to commit wire fraud in a mortgage fraud scheme based in Phoenix, Arizona. Five others have entered guilty pleas in the same scheme and are awaiting sentencing.
As previously reported by Mortgage Fraud Blog, and as confirmed by his guilty plea,Continue Reading...
The Financial Crimes Enforcement Network (FinCEN), in its First Quarter 2011 Mortgage Loan Fraud (MLF) analysis, reported that the number of MLF suspicious activity reports (SARs) rose to 25,485 up 31 percent from 19,420 in the first quarter of 2010. FinCEN attributes the increase to large mortgage lenders conducting additional reviews after receiving demands to repurchase poorly performing mortgage
Continue Reading...
A federal grand jury returned an eight-count indictment this week charging five individuals relating to their operation of a mortgage fraud conspiracy in the Dallas-Fort Worth, Texas (DFW) area.
Fredrick Lee Moore, 38, Dallas, Texas; Fredrick Barnard Lynch, 39, Desoto, Texas; Continue Reading...
James and Wendy Ober, Hudson, Wisconsin, Raul Burgos Pliego, Farmington, Minnesota, and Alejandro (Alex) Sanchez aka Silverio Alejandro Sanchez Cruz, Bloomington, Minnesota, were charged with racketeering in a
Continue Reading...
Stephen M. Gunther, 40, Hertford, North Carolina, pled guilty in Norfolk, Virigina, federal court to wire fraud in connection with a scheme to defraud commercial mortgage lenders. Gunther entered his guilty plea before United States District Judge Raymond A. Jackson and is set to be sentenced on June 21, 2010.
Continue Reading...
Cedric Nelson, 51, Las Vegas, Nevada, who owns and operates an accounting company, was arrested on mortgage fraud charges and is scheduled to appear in federal court for an arraignment.
Nelson is charged in a criminal indictment with two counts of wire fraud. The indictment was returned by the federal grand jury on May 25, 2011, and unsealed following his arrest.
Continue Reading...
Paul Allen, 55, Oakton, Virginia, the former chief executive officer (CEO) of Taylor, Bean & Whitaker (TBW) was sentenced to 40 months in prison for his role in a more than $2.9 billion fraud scheme that contributed to the failure of TBW.
Continue Reading...
Brett Matheson, 46, pleaded guilty in federal court to conspiracy to commit wire fraud in a $50 million mortgage fraud scheme based in Phoenix, Arizona. Two others have also entered guilty pleas and are awaiting sentencing.
Matheson acknowledged in his guilty plea that as President and CEO of Continue Reading...
Alexander Kaplan, 36, Brooklyn, New York, formerly a Brooklyn-based real estate lawyer and the owner of a title insurance company, was sentenced on Friday, June 17, 2011, in Manhattan federal court to 46 months in prison by United States District Judge Richard J. Holwell for his role in a multimillion dollar mortgage fraud scheme. Kaplan was convicted, on February 6, 2009, of eighteen
Continue Reading...