The Financial Crimes Enforcement Network (FinCEN) released two mortgage fraud reports entitled Mortgage Loan Fraud SAR Filings, which together cover the first six months of 2010; one report covers January through March 2010, and the other covers April through June 2010.
Taken together the reports show that suspicious activity reports (SARs)
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Michael James Burns, Jr., 51, San Francisco, California, was sentenced on October 8, 2010, to serve 87 months in prison, 3 years supervised release upon release from incarceration and restitution of $445,532.45, following his guilty plea to wire fraud and money laundering. Burns created a company, BMJ Capital to allegedly finance
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Jeffrey Gonsiewski, 56, Wood Dale, Illinois, a former suburban bank vice president, was sentenced to 63 months in federal prison following his fraud conviction for changing the terms of at least 100 loans for at least 50 customers and causing the bank to lose at least $5.1 million. Jeffrey Gonsiewski, formerly vice president of the loan department at Continue Reading...
With only a month left and just over 10,000 of the almost 43,000 mortgage industry professionals having submitted their new applications, the Florida Office of Financial Regulation (OFR) is concerned that mortgage professionals will not get their applications in on time and will not be able to continue working in the industry come January 1, 2011. All industry licensees are required to re-apply under the new Nationwide Mortgage Licensing System (NMLS) with more stringent requirements,
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George O’Neal, 70, Anne Arundel County, Maryland, who operated from an office space in Annapolis, Maryland, was indicted on October 19, 2010, and pleaded guilty to wire fraud in connection to three fraud schemes.
According to O’Neal‘s plea agreement, from 2004 to 2006, O’Neal placed ads in newspapers soliciting
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Monique Le Nguyen, aka Monique Dzung Le, 60, Milpitas, California, a licensed real estate agent, was sentenced by United States District Judge Lawrence J. O’Neill to 20 months in federal prison for conspiring to commit mail fraud in connection with the financing and acquisition of five residential properties in Fresno and Mendocino
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$200,507 in foreclosure relief money from the Countrywide Financial Corporation settlement is being distributed in Maine. The funds are being distributed to the state’s ten Community Action Programs based on the population of the areas they serve.
In July 2009, Maine settled its claims with Countrywide alleging that the company had engaged in predatory lending practices and in
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Amy B. Strait, 43, McFarland, Wisconsin, was sentenced by U.S. District Judge William M. Conley to three months in federal prison in a prosecution stemming from a federal investigation of mortgage and tax fraud. The prison sentence will be followed by a two-year term of supervised release.
Strait pleaded guilty on September 9, 2010, to conspiracy to obstruct the bank
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Monica Elizabeth Frommer, 33, Sherman Oaks, California, was charged by a federal grand jury for her role in a $2 million mortgage fraud scheme in which she allegedly filed fraudulent loan applications that in some cases falsely claimed she and her husband earned nearly $50,000 per month.
Frommer was indicted November 9, 2010, on charges of bank fraud, loan fraud, wire
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Dr. Robert J. Rosenstein, 56, Cleveland, Ohio, was indicted one one count of conspiracy to commit bank fraud, false statements to influence a bank to make a loan, mail fraud, and wire fraud.
Rosenstein is charged as being a straw buyer for a co-conspirator, not charged in the information, referred to as “J.C.” The information defines a straw buyer as an individual
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