Andrew Mangini and First Solutions Inc., d/b/a Credit One, are the subjects of an administrative complaint alleging that they illegally assessed advance fees for loans. As part of the administrative complaint, a $700,000 fine has been sought as well as a notice of intent to issue a cease and desist order.
Archives For November 30, 1999
Arlene Jeanette Mojardin, 32, Bakersfield, California, pleaded guilty to conspiracy to commit bank fraud, mail fraud, and wire fraud, in connection with a mortgage fraud scheme in Bakersfield.
Richard Demaria, 45, Glenview, Illinois, a former managing director of Panorama Global Partners, LLC, a company that falsely purported to trade in certain financial instruments, was sentenced to 40 months in federal prison for fraudulently obtaining approximately $4.2 million in investor funds and for misappropriating approximately $3.9 million of those funds.
Six individuals have been charged with violations of federal law in what the indictment alleges was a scheme to market and sell home loan modification services to distressed homeowners trying to save their homes from foreclosure following the financial crisis of 2008. Investigators believe the alleged scheme involved more than 10,000 victims in nearly every state in the country with losses of more than $33 million.
Gabriela Carter, 43, Sacramento, California, is the subject of an eight-count grand jury indictment charging her with bank fraud for allegedly submitting fraudulent loan applications to federally insured financial institutions to obtain real estate loans that her clients were not qualified to receive.
Alan David Tikal, 46, the principal operator of a large-scale mortgage fraud/mortgage elimination scheme, was sentenced to 24 years in prison.
Joel Wilson, 32, Saginaw, Michigan, was convicted by a jury on nine felony charges for his role in an extensive Michigan Ponzi scheme wherein he defrauded hundreds of Michigan victims out of millions of dollars. In January 2014, extradition efforts were initiated to retrieve Wilson from Germany after he was on the lam in Europe for more than a year.
Agustin Simon, 53, Patterson, California, was sentenced by U.S. District Judge Lawrence J. O’Neill to 15 months in prison for conspiring to commit bank fraud. Simon was convicted of submitting fraudulent short-sale applications, which caused financial institutions to approve the charge-off of funds for the short-sale of his home.
Rachel Siders, 39, Roseville, California, was convicted by a federal jury and found guilty of bank fraud, making a false loan application, and committing aggravated identity theft. Continue Reading…
Dana Faulkner, 48, Oakland, California, was sentenced by United States District Judge John A. Mendez to one year in prison for conspiring to commit mail fraud and make false statements in loan applications. Faulkner is the ninth defendant to be sentenced as the result of a large scale mortgage fraud scheme operating out of the headquarters of Liberty Real Estate & Investment Company and Liberty Mortgage Company.