Adam Lacerda, 28, and Ashley Lacerda, 32, both of Egg Harbor Township, New Jersey; Ian Resnick, 37, Abescon, New Jersey; and Genevieve Manzoni, 46, Lake Worth, Florida, were convicted by a federal jury for their roles in a $3 million conspiracy to scam customers by offering phony consulting services to propery owners and owners of timeshares through the New Jersey-based Vacation Ownership Group LLC.
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Theresa Sanders, a/k/a Theresa Hayes, 55, most recently of Westerville, Ohio, an attorney, Tracie Clark, 41, Wimauma, Florida, Michelle Powers, 51, DeRuyter, New York, an attorney, Steven Essig, 60, an appraiser, and Paul Sakowski, 44, both of Syracuse, New York, have been indicted for their roles in a mortgage fraud ring that operated for years and netted more than $1 million by preying upon first-time home buyers and institutional lenders.
The five defendants bilked consumers by advertising a rent-to-own opportunity in which first-time home buyers with low credit were offered the chance to own their own homes with no down payments and no closing costs. The accused then took out fraudulent loans against those properties, conned lenders into believing they were paying off underlying mortgages, and then pocketed the money. Continue Reading…
Frederick Tropeano, 47, Holmdel, New Jersey, was sentenced to 12 years with a five year, ten-month period of parole ineligibility, in a New Jersey state prison after he admitted he laundered millions of dollars through an extensive mortgage refinance fraud scheme bilking more than 40 homeowners in New Jersey and New York out of more than $7.5 million,
Pamela Stacey Gerber-Gressier, 53, Cerritos, California, is facing 108 counts of misconduct including the unauthorized practice of law in another jurisdiction, aiding in the unauthorized practice of law, collecting an illegal fee, moral turpitude and failing to return unearned fees.
Patricia Bonavito, 59, formerly of San Francisco, California, and currently from New York City, New York, pleaded guilty in federal court in San Francisco to giving false statements in a bankruptcy proceeding.
James Cockinos, 58, Englewood Cliffs, New Jersey, a former mortgage broker and bank officer, was sentenced to 12 months in prison for his role in conspiring to commit bank fraud in order to secure a $1.48 million residential real estate loan.
James Cockinos, 58, Englewood Cliffs, N.J., a former mortgage broker and bank officer, has been sentenced to one year and a day in prison for defrauding Washington Mutual Bank (later acquired by JPMorgan Chase) in New York, for the purpose of securing a $1.48 million residential loan.
Kimberly Eileen McMillian, a/k/a Kimberly Simmons and Kimberly Simmons McMillian, 46, Baltimore, Maryland, and Glenroy E. Day, Sr., 73, Oxon Hill, Maryland, pleaded guilty to wire fraud in connection with a fraud scheme involving more than $1 million in fraudulently obtained mortgages.
Numerous federal cases and other court actions have been unsealed involving attorneys, mortgage brokers, real estate professionals, and developers, who are charged with federal crimes pertaining to mortgage fraud.
John Nazarian, Saratoga County, New York, has been indicted and charged with aiding and abetting bank fraud for his alleged role in a mortgage fraud scheme.