Archives For Mortgage Fraud

New York State Senator Sampson Convicted After 4 Week Jury Trial

Rachel Dollar —  July 24, 2015 — 1 Comment

After a four-week jury trial, New York State Senator John Sampson was convicted by a federal jury in Brooklyn, New York, for one count of obstruction of justice and two counts of making false statements to federal agents.

The guilty verdicts follow evidence at trial and publicly filed documents establishing that, among other things, Sampson, as an attorney practicing in Brooklyn, New York embezzled funds he held in escrow from the sale of real estate properties. Concerned that his theft might be discovered by law enforcement, in 2006 Sampson asked an associate for $188,500 to replenish the stolen funds. In exchange, Sampson used his position as a Senator to assist the associate’s real estate business interests. Continue Reading…

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Guilty Plea in Sovereign Citizen Mortgage Elimination Scheme

Rachel Dollar —  July 23, 2015 — 2 Comments

Jennifer McTigue, 48, Honolulu, Hawaii pled guilty to conspiring to commit wire fraud, mail fraud, and money laundering, as well as committing wire fraud, mail fraud and money laundering. McTigue pled guilty in federal district court before Senior District Judge Consuelo B. Marshall a day after jury selection for her trial was to have commenced.

In connection with her guilty plea, McTigue, who is representing herself and identifies herself as a “private non-citizen American national” stated:

“I feel I must take responsibility for people being damaged and that’s why I’m here today to plead guilty.”

Documents filed by McTigue in the court case had caused the Judge to order that she undergo a competency evaluation.

Continue Reading…

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Round and Round It Goes … Baltimore Row House Frauds

Rachel Dollar —  July 23, 2015 — Leave a comment

Alberic Okou Agodio, 30, Bethesda, Maryland, pleaded guilty to conspiracy, wire fraud, and aggravated identity theft, arising from a mortgage fraud scheme.  He used the names of immigrants and students, along with false financial information, to obtain approximately $3.8 million in home mortgage loans.  He bought approximately three dozen row houses in Baltimore, all of which are in default or foreclosure. Continue Reading…

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Pennsylvania Escrow Theft Scam Warning

Rachel Dollar —  July 23, 2015 — Leave a comment

The Monroe County, Pennsylvania Office of the District Attorney is warning citizens of a scam targeting homebuyers with pending purchases in Monroe County, Pennsylvania.

In this scam, dubbed the “Man in the Email” scam by the FBI, unwitting buyers are duped into wiring the closing costs and down payment to an out-of-state bank account when they receive closing instructions from their realtor or title company.  In reality, the email was sent by someone who had hacked into the email account of the realtor or title agent, and the instructions are bogus – directing the homebuyer to wire the funds to a bank account under the control of the scammers.

Although this press release was local to Pennsylvania, this scam is happening across the country and being directed and all parties that wire funds into escrow accounts – homebuyers and lenders. Continue Reading…

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Sting Operation in Kickback Extortion Plot

Rachel Dollar —  July 23, 2015 — Leave a comment

Ricardo Martinez, Coral Gables, Florida was arrested and charged with multiple felony counts which included a scheme to defraud, mortgage fraud, and unlawful promises to provide insider-information.  He is accused of kickback extortion.

Martinez was employed in South Florida as an asset manager for a large financial holdings corporation. Investigators from the FBI and Okaloosa County Sherriff’s Office learned that Martinez tried to extort a local business person to send money in the form of “kickbacks” to Martinez personally from the sale of the corporation’s real estate properties in Okaloosa County, Florida.

During an undercover “sting” operation, Investigators sent funds requested by Martinez to his private address in South Florida.  Martinez accepted the funds personally and he made efforts to conceal the money from all official real estate closing documents. Further, Martinez promised to provide other financial benefits to a local individual in exchange for the same “kick-back” agreement in the future.

The joint effort was successful due to ongoing partnerships between local and Federal authorities targeting fraudulent acts affecting the citizens of Okaloosa County.

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Robert Walker Sentenced to 33 Months for Modification Fraud

Rachel Dollar —  July 23, 2015 — Leave a comment

Robert Walker, 44, North Royalton, Ohio, was sentenced to 33 months in prison.  He previously pleading guilty to five counts of fraud.  Walker operated of a loan modification fraud scheme and defrauded over 90 struggling homeowners out of $286,000.

According to court documents, Walker convinced homeowners on the verge of foreclosure to pay Walker an up-front fee of at least $1,995.  Walker did little or no work to get a loan modification for customers. He promised that 80 percent of the fee would be reimbursed if he didn’t get them a modification. But Walker never intended to reimburse the fees.  When he failed to obtain a loan modification, he refused the promised reimbursement. Continue Reading…

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 Posted by Rachel Dollar  onJuly 22, 2015 In Mortgage Fraud
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Illinois Business Owner and Son Plead Guilty in Commercial Fraud

Rachel Dollar —  July 22, 2015 — Leave a comment

Bruce Swisshelm, 68, Battlefield, Missouri, and his son, Bruce Swisshelm II, 43, Springfield, Missouri pleaded guilty in two separate but related cases, to their roles in a more than $5.5 million bank fraud scheme.  Swisshelm pleaded guilty to bank fraud and money laundering. Swisshelm II pleaded guilty to misprision of a felony. Continue Reading…

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Massachusetts Mortgage Broker Convicted of Bank Fraud

Rachel Dollar —  July 22, 2015 — Leave a comment

Michael P. O’Donnell, 53, mortgage broker, Middleton, Massachusetts was convicted of one count of bank fraud after a three-day bench trial before the Honorable Douglas P. Woodlock, United States District Judge.  Judge Woodlock scheduled sentencing for October 20, 2015. Continue Reading…

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I apologize to the United States and to all of my family

Julio Cesar Concepcion, prior to being sentenced to 7 years in federal prison and ordered to pay over $5 Million in restitution

 Posted by Rachel Dollar  onJuly 22, 2015 In Mortgage Fraud
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