Archives For Washington D.C.

Three separate suits have been filed in federal court to halt the allegedly deceptive tactics of three operations that preyed on distressed homeowners by falsely claiming they could save their homes from foreclosure, and then charging them thousands of dollars up-front, while delivering little or no help and often driving them deeper into debt.

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Bryan W. Talbott, 49, the president of a property management company, was sentenced to 10 years in prison for defrauding his clients, mortgage lenders, and the government of more than $2.8 million.

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At the request of the Federal Trade Commission, a U.S. district court has halted a nationwide scam operating from the Dominican Republic ““ but pretending to be in Chicago ““ that allegedly peddled fake mortgage assistance relief to financially distressed Spanish-speaking homeowners in the United States.

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Carline M. Charles, 41, Silver Spring, Maryland, who operated a business that supposedly would rescue distressed homeowners from foreclosure, pled guilty to conspiracy to commit bank fraud for her role in a mortgage fraud scheme that cost lenders at least $1 million.

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Donald M. Ramsey, 45, Alexandria, Virginia, a mortgage broker, pled guilty to a charge of conspiracy to commit bank and mail fraud for his part in a scheme that cost lenders more than $700,000.

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The Financial Crimes Enforcement Network released its First Quarter 2012 Update of mortgage loan fraud suspicious activity reports (MLF SARs) that shows California, Nevada, and Florida leading the nation in the number of MLF SAR subjects per capita.

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A fraud alert has been issued to the Armed Services community to combat scams targeted at homeowners seeking to apply for mortgage assistance through the Home Affordable Modification Program (HAMP) and other federal programs. A number of these scams are specifically targeting members of the Armed Services community.

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Speaking at a hearing in Washington, D.C., the Appraisal Institute urged a federal judicial agency to require the use of real estate appraisals when calculating loss in mortgage fraud cases. The Appraisal Institute is the nation’s largest professional association of real estate appraisers.

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The U.S. Attorney’s Office for the District of Columbia has successfully built upon the efforts of Operation Stolen Dreams, a nationwide initiative against mortgage fraud, with prosecutions of defendants accused of crimes that resulted in losses of more than $10 million. Those convicted include:

Ronald Johannes Sneijder, Herndon, Virginia, 48, a former owner of a title and escrow company based in the District of Columbia.

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Paul Allen, 55, Oakton, Virginia, the former chief executive officer (CEO) of Taylor, Bean & Whitaker (TBW) was sentenced to 40 months in prison for his role in a more than $2.9 billion fraud scheme that contributed to the failure of TBW.

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