Christopher Allen Taylor, 38, Riverside, California, a loan officer, is charged with eight felony counts of grand theft and faces a maximum sentence of 18 years in state prison if convicted. He is out of custody on $100,000 bail.
Richard Cadieu, 73, Laguna Woods, California, a real estate agent, is charged with one felony count of grand theft and faces a maximum sentence
Continue Reading...
The Financial Crimes Enforcement Network (FinCEN) in its new report, Mortgage Loan Fraud SAR Filings In Fourth Quarter and Calendar Year 2010, released full year data showing the number of suspicious activity reports involving mortgage loan fraud (MLF SARs) increased 4 percent in 2010 to 70,472 compared with 67,507 MLF SARs filed in 2009. The report also shows that the growth rate of MLF SARs began to slow over the last two
Continue Reading...
Anthony V. Weis, 45, Phoenix, Maryland, was sentenced by U.S. District Judge Catherine C. Blake to 78 months in prison followed by three years of supervised release for wire fraud in connection with a mortgage fraud scheme to defraud lenders of approximately $3.9 million in just eight months. Judge Blake ordered Weis to pay restitution of $4,007,705, which includes the loss to the
Continue Reading...
Frederick Ugwu, 54, Upper Saddle River, N.J., a New Jersey real estate investor, was sentenced to 50 months in prison in connection with a mortgage fraud and property-flipping scheme involving rental properties in Paterson, New Jersey.
Ugwu was convicted in December 2009 after a five-week jury trial on counts of wire
Continue Reading...
James C. Alberts, 45, Point Pleasant, N.J., was sentenced in Norfolk, Virginia, federal court to four and one-half years in prison for conspiring to commit bank fraud, and was ordered to pay over $1.7 million in restitution. Alberts previously pled guilty to the charge on December 6, 2010.
According to court documents, Continue Reading...
After a two-year investigation, four indictments charging 17 people with more than 108 crimes were handed down for their roles in mortgage fraud and identity theft schemes that stole more than $20 million from homeowners, banks, and the County government. Among those arrested are lawyers, mortgage brokers, real estate brokers, bank employees, an appraiser, a financial consultant and one United States Postal worker. The investigation was dubbed “Operation Sweet Deal.”
Continue Reading...
Gregory L. Jackson, a real estate investor, pleaded guilty to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, California.
Jackson pleaded guilty to conspiring with a group of real estate speculators who agreed not to bid
Continue Reading...
Darlene M. Adkins, 65, Springfield, Illinois, a real estate agent, entered pleas of guilty to concealing assets in a bankruptcy proceeding and making a false statement to a bank. Sentencing is scheduled for July 18, 2011.
In court documents and during the hearing before U.S. Magistrate Judge Byron G. Cudmore, Adkins admitted that on May 15, 2006, she submitted
Continue Reading...
Frank P. Jenkins II, 45, LaPlata, Maryland, a former attorney, was sentenced by Chief U.S. District Judge Deborah K. Chasanow to 46 months in prison followed by three years of supervised release for wire fraud and mail fraud in connection with a scheme to defraud his clients and lenders in real estate transactions. Chief Judge Chasanow also entered an order that Jenkins
Continue Reading...
Jo’Mell Thomas, 29, Wallingford, Connecticut, waived his right to indictment and pleaded guilty March 7, 2011, before Chief United States District Judge Alvin W. Thompson in Hartford to one count of conspiracy to commit wire fraud stemming from his participation in a mortgage fraud conspiracy.
According to court documents and statements made in court, this matter stems from an investigation into an extensive mortgage fraud
Continue Reading...
