Haider Zafar, 36, formerly of Dublin, Ohio, was sentenced in U.S. District Court to 72 months in prison, three years of supervised released, and was ordered to pay $15,723,034 in restitution for committing a $10 million fraud scheme involving false representations about investments in Pakistani real estate and to fraudulently obtaining a $1 million Miami Heat ticket package.
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John C. McBride, 65, Marblehead, Massachusetts, pleaded guilty to tax and bank fraud violations, primarily for recording fraudulent federal tax lien releases on properties he owned in Marblehead and Edgartown, Massachusetts.
11 people, as well as a closing attorney, have been indicted on charges that they allegedly conspired to steal nearly $1 million from lenders through a short-sale mortgage fraud scheme.
Theresa Sanders, 56, most recently of Westerville, Ohio, pleaded guilty to residential mortgage fraud, in the second degree, and grand larceny, in the second degree, in Onondaga County Court, New York, before Judge Anthony Aloi.
Aaron G. Seltzer, 38, Trappe, Maryland, pleaded guilty to wire fraud in connection with a scheme in which he converted funds intended for real estate investments to his personal use.
Golden First Mortgage Corp., and its owner, operator and President, David Movtady, have settled a civil mortgage fraud lawsuit alleging misconduct in connection with Golden First‘s participation in the FHA Direct Endorsement Lender Program.
Wilbur Anthony Huff, Kentucky, pleaded guilty to bank fraud charges admitting that he engaged in a scheme to prevent Park Avenue Bank, New York, New York, from being designated as “undercapitalized” by regulators – a designation that would prohibit the bank from engaging in certain types of banking transactions, and that would subject the bank to a range of potential enforcement actions by regulators.
Charles A. Bennett, 56, Manhattan, New York, was arrested on securities and wire fraud charges stemming from his scheme to defraud over 30 investors of more than $5 million through a Ponzi scheme that he perpetrated for more than five years.
Based on incident reports, Florida’s Mortgage Fraud Index ranked first in the nation for loans investigated in 2013. Florida’s reported fraud rate, 529, is over five times the expected rate of fraud for the state, based on its origination volume. It is over five times that of California for investigated loans.
Alex Schleider, 49, Lakewood, New Jersey, man was sentenced to one year and one day in prison for his part in a real estate investment fraud scheme that defrauded real estate investors of more than $1 million by persuading them to fund the purported purchase of an apartment complex, Belle Glade Gardens.