Michael Krause has been indicted on charges of wire fraud and conspiracy for his alleged role in misappropriating and failing to pay off a prior mortgage with the funds from a new loan.
Archives For Escrow Fraud
Steve Kessedjian, 50, Los Angeles, California, pleaded guilty to mail fraud in connection with his scheme to defraud client escrow funds.
Kathleen Niew, 57, Burr Ridge, Illinois, an attorney who operated Niew Legal Partners LLC and whose law license was suspended in May 2013, was arrested on federal fraud charges for allegedly misappropriating approximately $2.34 million from a husband and wife who were her clients.
David Burrus, Jr., 40, Burns, Tennessee, was sentenced to 66 months in prison, followed by a five-year term of supervised release, for conspiring to commit wire and mail fraud. Burrus was also ordered to pay restitution of $241,779.26.
Rhonda Scott, 52, Oxon Hill, Maryland, pleaded guilty before U.S. District Judge James K. Bredar to conspiring to commit wire fraud in connection with two separate mortgage fraud schemes that resulted in losses of over $2,500,000.
Elizabeth Glosemeyer, St. Louis County, Missouri, was indicted on two counts of wire fraud.
Jon A. Divens, 57, California State Bar # 145549, is facing disbarment for his role in misappropriating about $400,000 in interest from two investment vehicles that he agreed to hold in escrow pending their sale.
Mary Brainard, 60, Seneca Falls, New York, pleaded guilty before U.S. District Judge Frank P. Geraci to wire fraud affecting a financial institution. The charge carries a maximum penalty of 30 years in prison, a fine of $1,000,000, or both.
Brett A. Amendola, 38, Ashburn, Virginia, was sentenced to 84 months in prison for carrying out a $5 million Ponzi scheme involving his purported purchase of real estate.
Douglas Wayne Bartle, III, also known as Ridgely Douglas Bartle and Douglas Wayne Bartle, Jr., 49, Winter Park, Florida, was sentenced by Senior U.S. District Judge G. Kendall Sharp to 20 months in federal prison for wire fraud in connection with the fraudulent operation of a title insurance company.Continue Reading...