Muhammad Shafique, 44, Egg Harbor Township, New Jersey, man was sentenced today to 57 months in prison for trafficking millions of dollars in contraband cigarettes, laundering the proceeds through his South Jersey store and participating in a $2 million mortgage scheme in New York.
Archives For Mortgage Fraud
Bruce Hawkins, 64, Denver, Colorado, the former owner of a home building company that went bankrupt in 2008, leaving unfinished a commercial and residential property development, was sentenced to 15 months in federal prison for bank fraud related to the collapse of the project, known as Riverside Square.
Ped Abghari, a/k/a Ted Allen, 37, Irvine, California, Dionysius Fiumano, a/k/a “D,” 43, Irvine, and Justin Romano, 40, Blue Point, New York, have been charged with engaging in a mortgage modification scheme that defrauded over 8,000 homeowners in all 50 states out of over $18.5 million, in what is believed to be the largest mortgage modification scheme ever charged.
Timothy P. Fitzgerald, 56, Leawood, Kansas, pleaded guilty in federal court to taking part in a fraud scheme wherein he falsified asset information to obtain a loan, which ultimately cost the Bank of Blue Valley more than $877,000.
Michael C. Kaufman, Pittsford, New York, who was convicted following a federal jury trial of conspiracy to commit bank and loan fraud, as well as bank and loan fraud, was sentenced to a 12 months in prison and ordered to pay restitution in the amount of $1,360,893.72 by U.S. District Judge Frank P. Geraci.
Carmen Denise Mosley, 44, Granada Hills, California, an accountant, was sentenced to 57 months in federal prison and ordered to pay approximately $1.1 million in restitution for her role in a mortgage fraud scheme in southern Nevada. The defendant conspired to obtain mortgage loans from financial institutions by causing materially false information to be placed in the buyers’ mortgage loan applications and supporting documentation.
Matthew Amato, 31, Philadelphia, Pennsylvania, was charged in an criminal Information with one count of making false statements to banks. Amato allegedly made false claims to influence lenders to approve his loan application.
Jacqueline Polverari, 47, Branford, Connecticut, was sentenced by U.S. District Judge Janet Bond Arterton in New Haven to 12 months and one day of imprisonment, followed by three years of supervised release, for arranging a series of fraudulent mortgage loan refinancing transactions.
Armando Granillo, 45, Huntington Beach, California, a former sales associate with the Federal National Mortgage Association (Fannie Mae), was sentenced to 15 months in federal prison for taking kickbacks from a real estate broker who sold properties on behalf of the mortgage agency.
Shola Risikat Balogun, 48, Upper Marlboro, Maryland, was sentenced by U.S. District Judge Peter J. Messitte to 37 months in prison followed by three years of supervised release for conspiring to commit wire fraud in connection with a mortgage fraud scheme that she organized and managed, which resulted in over $1.352 million of actual losses to mortgage lenders.