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Loan Modification

: Flipping Frenzy

President of Queens Mortgage Brokerage Sentenced in Manhattan Federal Court to 30 Months in Prison for Participation in Massive Mortgage Fraud Scheme

By Ralph Roberts

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PREET BHARARA, the United States Attorney for the Southern District of New York, announced that DAVID RAMNAUTH, the former president of the Queens mortgage brokerage GuyAmerican Funding Corp. (“GuyAmerican”), was sentenced today to 30 months in prison for his role in a massive mortgage fraud scheme in which over $23 million in fraudulent loans were [...]

Full post as published by Flipping Frenzy on February 09, 2011 (boomark / email).

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