The following four indviduals were arrested Wednesday, February 11, 2009, for allegedly defrauding financially troubled homeowners out of more than $1 million in property. The alleged victims were all Polynesian and were offered new mortgages to help save their homes from foreclosure. The defendants allegedly had straw buyers purchase the properties and then took out all of the equity.
Elenoa
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The Philadelphia District Attorney’s Office set up a special hotline number for those who are victims of “house stealing”.
The number for the Economic Crime Complaint Hotline is 215-686-9901. Callers should leave a message and a number where investigators may contact them.
Saying that that the defendants “are intent on ripping people off by villainy and treachery,” District Attorney Lynne Abraham held a news conference to release the results of a Grand Jury
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Lee Howlett, 45, Portland, Oregon, pled guilty before U.S. District Court Judge Robert E. Jones to one count of conspiracy to commit wire fraud, aggravated identity theft and money laundering. Sentencing is set for May 5, 2009.
As previously reported on Mortgage Fraud
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Chandra Jones, 31, Lanham, Maryland, pleaded guilty to conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair their damaged credit.
As previously reported on Mortgage Fraud Blog and
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Linda Edwards, 55, Centennial, Colorado, was sentenced to serve 41 months (3 ½ years) in federal prison for wire fraud, false statements, and false use of a Social Security number. Following the prison term, Edwards was ordered to spend 3 years on supervised release. She was also ordered to pay restitution totaling $646,521.87, forfeit $139,854.96, which represents the proceeds of her illegal activities, and pay a $1,300 special
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Time to update the web pic …. That old red jacket photo has followed me since the first post in July 2004. That picture hasn’t aged at all!! Alas, I don’t live in stasis. So, we’re changing the picture … we may change it several times – kind of like the spin on that slot machine …. clicking past the mismatched tiles to land, finally, on the three 7’s ….
Leave your comments and help choose the final photo. :coolmad:
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John A. Yanchek, 49, Sarasota, Florida, a practicing attorney licensed by the State of Florida, pleaded guilty before Magistrate Judge Thomas B. McCoun III to three counts of a 47-count Indictment charging four individuals with conspiracy, making false statements in connection with bank loans, scheming to defraud several FDIC – insured banks, and money laundering. Mortgage Fraud Blog Continue Reading...
Alexander Kaplan, Brooklyn, New York, was found guilty of participating in a multimillion-dollar mortgage fraud scheme, after a two-week jury trial in Manhattan federal court, on all eighteen counts in the Indictment against him.
According to the evidence at trial, statements made in open court, and the Indictment:
From late 2004 through January 2007, Kaplan and his
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Howard A. Sperling, 44, San Diego, California, pleaded guilty in federal district court to conspiracy to commit wire fraud for his part in a scheme to defraud a California construction firm of nearly $13 million.
According to the information presented in court: From August 2003 through January 2004, Sperling and his co-defendants conspired to defraud Cornell Corrections of
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Michigan Attorney General Mike Cox and 11 state attorneys general are questioning a federal report which could cause more home foreclosures because it over-estimates how many homeowners defaulted after using the mortgage modification process. It is feared the report may cause lenders and policymakers to reduce the number of future modifications.
“For many families, modifying an existing mortgage is the only way to avoid foreclosure,” said Cox. “This report sends the wrong
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