Stafford A. Hilaire, 59, Aurora, Colorado, was sentenced to serve 32 months in federal prison for conspiracy to defraud the United States and conspiracy to commit money laundering. Following the prison term, Hilaire was ordered to spend 2 years on supervised release. Hilaire was also ordered to pay restitution totaling
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Olusola Idowu, 57, Hagerstown, Maryland, was convicted by a federal jury on charges of wire fraud, bankruptcy fraud, making false statements in a bankruptcy proceeding, filing a false tax return and failing to file a corporate tax return.
Idowu was the owner and president of SSS Nutrition & Dietetic Care Services (SSS
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Ruben Rojas, 30, Vienna, Virginia, was sentenced to 60 months in prison, followed by five years of supervised release, for leading a mortgage fraud scheme that caused more than $9 million in losses. Rojas was also ordered to pay restitution in the amount of $9.5 million. A lawful permanent resident from Bolivia, Rojas will
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Francis Alan Schmitz, also known as “F. Alan Schmitz,”58, Long Grove, Illinois, was arrested on federal charges alleging that he fraudulently obtained a $2.85 million bank line of credit year resulting in a loss of approximately $2.4 million. The defendant, Francis Alan Schmitz, a former bank executive, allegedly provided false financial information in seeking bank funds
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Edward William Farley, 47, Hoschton, Georgia, was sentenced to serve 25 years in federal prison on charges of bank fraud and conspiracy involving mortgage fraud, a real estate investment “Ponzi” scheme with over a hundred victims, a check-kiting scheme and bankruptcy fraud. Walter Julius Hermann, 41, Dunwoody, Georgia, was also sentenced to serve over 2 years in federal
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John Pereless, 42, Colts Neck, New Jersey, has been convicted of one count of second degree Conspiracy to Commit Theft by Deception, eight counts of second degree Theft by Deception, eight counts of fourth degree Securing Execution of Documents by Deception and eight counts of fourth degree Falsifying Records. The jury also returned a guilty verdict against John Pereless’
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Milton Retana, 46, Huntington Park, California, a man who preyed on Spanish-speaking investors with promises of hefty returns during the real estate bubble was sentenced to 25 years in federal prison for bilking approximately 2,300 victims who suffered losses of approximately $33 milion. Retana was sentenced by United States District Judge R. Gary Klausner.
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Gary T. Johnson, 60, Groton, Connecticut, has been found guilty of four counts of wire fraud and two counts of engaging in illegal monetary transactions while operating his former mortgage lending business.
As previously reported on Mortgage Fraud Blog and according to the evidence presented during
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Michael Anthony Prieskorn, 35, Ellendale, Minnesota, pleaded guilty in federal court to charges stemming from a mortgage fraud scheme that resulted in losses of at least $20 million for mortgage lenders. Prieskorn was charged with orchestrating the scheme, which involved the purchase of approximately 70 residential properties in Continue Reading...
Terral Toole, 42, Lake Elsinore, California, was sentenced to 85 months and ordered to pay $291,055 in restitution to three financial institutions for his role in a mortgage fraud scheme.
Toole pleaded guilty in November 2009 to four counts of wire fraud and four counts of money laundering for his
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