Brian H. Madden, 55, Greenlawn, New York, was indicted on charges that he misappropriated and embezzled over $4.7 million of escrow, client, and other operating funds from three title insurance agencies that he controlled and operated in New York. The three-count Indictment returned by the Grand Jury adds a money laundering charge to the wire fraud and insurance fraud charges for which Continue Reading...
Archives For Mortgage Fraud
Veronica Sanchez Gallegos, 28, Ventura, California, a licensed real estate agent, pled guilty on August 6, 2009, to one felony count of theft from an elder, five felony counts of grand theft, and admitted a special allegation of taking more than $500,000.
In an investigation conducted by the District Attorney’s Office Bureau of Investigation, it was determined that Gallegos conducted
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Grant William Gondrezick, 45, Benton Harbor, Michigan, previously a resident of Houston, Texas, has pleaded guilty to conspiring to commit wire fraud. Sentencing is set for Dec. 4, 2009, when he faces up to five years in prison, a fine of up to $250,000 and up to $1.9 million in restitution. Gondrezick will remain on bond pending his sentencing.
According to the factual basis in
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386 mortgage foreclosure consultants have been threatened by possible criminal and civil prosecution unless they post $100,000 bonds and register with California Attorney General Edmund G. Brown Jr.’s office. Additionally, more than two dozen companies were ordered to justify suspicious loan modification claims made in “slick advertising,” online and through the mail.
Brown has sent letters directing 386 mortgage foreclosure consultants to register with his office within 10 days and
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Godwin Asifo, 55, Woodbridge, Virginia, has been convicted of two counts of mail fraud and one count of wire fraud for running a mortgage fraud scheme that resulted in the foreclosure of at least three homes in northern Virginia. Asifo faces a maximum penalty of 60 years in prison and full restitution when he is sentenced on Nov. 20, 2009.
Dana J. Boente, United
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Jeffrey Ryan Ayers, 29, Lithia, Florida was arrested charged with racketeering, conspiracy to commit racketeering, and grand theft in connection with a multi-million dollar mortgage fraud scheme that has victimized dozens of people since 2004.
Ayers worked for Advanced Mortgage Solutions, a mortgage broker company associated
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Joseph D. Milanowski, 48, Las Vegas, Nevada, the owner of a Nevada investment company who misappropriated over $50 million of client monies to fund loans for his own pet projects, entered a guilty plea to one count of wire fraud before Chief U.S. District Judge Roger L. Hunt and was released on a personal recognizance bond pending sentencing. In pleading guilty,
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Arshad Hussain, 49, Dumfries, Virginia, was sentenced to 24 months in prison after previously escaping to Pakistan and ultimately returning to the United States to face charges in this case. All seven conspirators have now been sentenced for stealing more than $5 million through a fraud scheme involving identity theft and credit card, bank and mortgage fraud. Hussain was
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Jessica A. Zbacnik, 42, Monroe, Ohio has plead guilty in United States District Court for her role in an extensive mortgage fraud scheme that affected 210 residential properties, including 205 in Montgomery County, Ohio.
Zbacnik pleaded guilty to one count of conspiracy to commit money laundering and one count of
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Stephen LaLonde, 42, Fort Lauderdale, Florida, was charged in a two-count Information for his role in a mortgage fraud closing scheme that resulted in the theft of more than $1 million in loan proceeds.
According to the July 19, 2009, criminal information, LaLonde stole more than $1 million at real estate closings as part of a scheme to defraud legitimate borrowers, lenders, and
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