Archives For Mortgage Fraud

Mortgage Modification Representative Pleads Guilty

Rachel Dollar —  July 30, 2015 — Leave a comment

Jonathan Lyons, 53, a former sales representative at a company purporting to provide mortgage modification services, Rockville Center, New York, pled guilty in Manhattan federal court for his role in a multimillion-dollar scheme that victimized more than 500 financially struggling homeowners across the country.  Lyons, who was arrested in October 2013, pled guilty before U.S. District Judge George B. Daniels.

According to the allegations contained in the Indictment and related Informations, the plea agreements, and statements made in court proceedings: Continue Reading…

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Was Irvine house-flipping business a Ponzi scheme?

A co-owner of a real estate firm based in Irvine and Long Beach set up a Ponzi scheme to pay off old investors while continuing to recruit new ones for a plan to flip distressed apartment buildings during the Great Recession’s housing collapse, a federal prosecutor told jurors.

However, Michael J. Stewart’s attorney told jurors his client was innocent and he thought his plan was a financially prudent one because homeowners who lost their property in foreclosure would have to turn to renting apartments Tuesday. Defense attorney Kenneth Miller also placed the blame for the company’s failure on co-defendant John Packard.

 Posted by Rachel Dollar  onJuly 30, 2015 In Mortgage Fraud
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Broker tells his side against Irving Fryar and mother

A financial broker who is serving time in federal prison in connection with a $2 million mortgage scheme took the stand Wednesday in the conspiracy trial of ex-Eagle Irving Fryar and his mother, Allene McGhee, in the Burlington County Courthouse in Mount Holly.

William Barksdale is the key witness in a high-profile case in which the state Attorney General’s Office alleges Fryar and McGhee conspired to defraud six banks and a mortgage company of more than $1 million in 2009. Barksdale, of Levittown, had pleaded guilty to conspiracy to commit wire fraud for assisting Fryar, McGhee, and several other Burlington County clients with the scheme.

 Posted by Rachel Dollar  onJuly 30, 2015 In Mortgage Fraud ,
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Guilty Plea In South Carolina Loan Modification Fraud Scheme

Rachel Dollar —  July 30, 2015 — 2 Comments

Shayne Harrison Smith, 47, Myrtle Beach, South Carolina entered a guilty plea in federal court in Florence, South Carolina, to Wire Fraud, a violation of 18 U.S.C. § 1343 in connection with a loan modification fraud scheme. Continue Reading…

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Myrtle Beach man pleads guilty to role in mortgage rescue scheme

A Myrtle Beach man has pled guilty to wire fraud as part of a “mortgage rescue scheme,” according to United States Attorney Bill Nettles.

Shayne Harrison Smith, 47, of Myrtle Beach pled guilty to wire fraud in federal court in Florence. 

 Posted by Rachel Dollar  onJuly 29, 2015 In Mortgage Fraud
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Those are completely false accusations. We’re going to fight them very vigorously.

Francisco Aguirre, member of Montecristo Properties LLC, commenting to a reporter from the Phoenix Business Journal on a Search Warrant Affidavit

 Posted by Rachel Dollar  onJuly 29, 2015 In Mortgage Fraud
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Real Estate Broker

New York Man Sentenced in Million Dollar Mortgage Fraud Scheme

Rachel Dollar —  July 29, 2015 — Leave a comment

Michael St. Claire, 36, Skaneateles, New York was sentenced to six months in prison, an additional four months of home confinement, and ordered to pay $1,257,945 in restitution in connection with a mortgage fraud scheme which resulted in losses of more than $1 million to lenders. St. Claire previously pleaded guilty to conspiracy to commit wire fraud. Continue Reading…

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HUG OIG Mortgage Fraud Supervisor Convicted of (Drumroll please …) Mortgage Fraud!

Rachel Dollar —  July 29, 2015 — Leave a comment

Herschell Harvell, Jr., a former Special Agent in Charge with the Office of Inspector General for the Department of Housing and Urban Development, has been convicted of two counts of making false statements to First Tennessee National Bank, N.A., to obtain a loan,  A jury convicted Harvell after a one week trial. 

According to Acting U.S. Attorney John Horn, the charges, and other information presented in court: Continue Reading…

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New Jersey Fraudster Gets Two Years

Rachel Dollar —  July 28, 2015 — Leave a comment

Kenneth Sweetman, 34, Nutley, New Jersey, was sentenced to 24 months in prison for his role in a massive mortgage fraud scheme involving multiple properties in Elizabeth, New Jersey.  Sweetman previously pleaded guilty before U.S. District Judge Susan D. Wigenton to an information charging him with one count of conspiring to commit wire fraud affecting a financial institution.

According to documents filed in the case and statements made in court: Continue Reading…

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A friend of mine approached me about using my credit to help people who were losing their homes. If you’re born into a life of service, this is the kind of stuff that you do.

Pennsylvania State Senator Anthony Williams, explaining his involvement in a foreclosure rescue

 Posted by Rachel Dollar  onJuly 27, 2015 In Mortgage Fraud , ,
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