Loan Modification

Former Employee of Phony Mortgage Rescue Company Sentenced to Prison for Role in Fraud Scheme

Posted on March 30, 2011
NEWARK, NJ?A Bloomfield, N.J., man was sentenced today to a year and a day in prison for his role in a mortgage fraud scheme carried out by the owner and employees of Elite Financial Solutions, a company based in Scotch Plains, N.J., which claimed to be a home foreclosure rescue company, U...

Former Colonial Bank Mortgage Lending Supervisor Pleads Guilty in Fraud Scheme

Posted on March 30, 2011
WASHINGTON?Teresa Kelly, a former operations supervisor in Colonial Bank?s Mortgage Warehouse Lending Division (MWLD), pleaded guilty today to conspiring to commit bank, wire, and securities fraud for her role in a fraud scheme that contributed to the failures of Colonial Bank and Taylor, Bean & Whitaker (TBW)...

Tyler, Texas Woman Sentenced in Mortgage Fraud Scheme

Posted on March 28, 2011
Receives 18 Months in Prison and Ordered to Pay Over $337,000 in Restitution TYLER, TX?U.S. Attorney John M. Bales announced today that a 47-year-old Tyler, Texas woman has been sentenced to federal prison for a mortgage fraud scheme in the Eastern District of Texas...

Texas Man Sentenced for Mortgage Fraud Scheme

Posted on March 28, 2011
Real Estate Investor Ordered to Pay Over $4.1 Million in Restitution SHERMAN, TX?U.S. Attorney John M. Bales announced today that a 38-year-old Grapevine, Texas man has been sentenced to federal prison for his role in a mortgage fraud scheme in the Eastern District of Texas...

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Former Fee Attorney of First Southwestern Title Company and Others Indicted in Alleged Multi-Million-Dollar Mortgage Fraud Scheme

Posted on March 27, 2011
HOUSTON?Vincent Wallace Aldridge and Tori Aldridge, both of Fresno, Texas, surrendered themselves to federal authorities as a result of the return of a 19-count indictment arising from an alleged scheme to defraud residential mortgage lenders of more than $3...

Forty Indicted in Major East Texas Mortgage Fraud Scheme

Posted on March 27, 2011
PLANO, TX?U.S. Attorney John M. Bales announced today that 40 individuals have been arrested and charged in connection with a major mortgage fraud scheme in the Eastern District of Texas. The 16-count indictment was returned by a federal grand jury on March 10, 2010, and includes one count of conspiracy to commit mail and wire [...

Towson Title Agency Operator Sentenced to Over Six Years in Prison in $3.9 Million Mortgage Fraud Scheme

Posted on March 26, 2011
Failed to Make $3.9 Million in Payoffs to Mortgage Lenders Holding Liens on 13 Properties BALTIMORE?U.S. District Judge Catherine C. Blake sentenced Anthony V. Weis, age 45, of Phoenix, Maryland, today to 78 months in prison followed by three years of supervised release for wire fraud in connection with a mortgage fraud scheme to defraud [...

Allen Park, Michigan Man Pleads Guilty to Defrauding Investors

Posted on March 26, 2011
Barry Sparks, 53, of Allen Park, Michigan, pleaded guilty today to wire fraud and money laundering, announced United States Attorney Barbara L. McQuade. McQuade was joined in the announcement by Erick Martinez, Special Agent in Charge, Internal Revenue Service, Criminal Investigation, and FBI Special Agent in Charge Andrew Arena...

Retired Pharmaceutical Sales Representative to Serve 63 Months in Prison for Ponzi Fraud Scheme

Posted on March 24, 2011
Ordered to Pay $1.79 Million in Restitution to Victims SPRINGFIELD, IL?U.S. District Judge Richard Mills today sentenced James U. Dodge, 72, of Springfield, Ill., to a term of 63 months (five years, three months) in federal prison for operating a Ponzi fraud scheme that defrauded more than 50 victims over a six-year period beginning in [...

New Jersey Real Estate Investor Sentenced to 50 Months in Prison for Role in Mortgage Fraud, Property-Flipping Scheme

Posted on March 24, 2011
NEWARK, NJ?A New Jersey real estate investor was sentenced today to 50 months in prison in connection with a mortgage fraud and property-flipping scheme involving rental properties in Paterson, N.J., U.S. Attorney Paul J. Fishman announced. Frederick Ugwu, 54, of Upper Saddle River, N...

Former UBS Investment Banker Sentenced in Manhattan Federal Court to 22 Months in Prison for Insider Trading Scheme

Posted on March 23, 2011
PREET BHARARA, the United States Attorney for the Southern District of New York, announced that IGOR POTEROBA, a former investment banker in the Healthcare Group of UBS Securities LLC (?UBS?), was sentenced today to 22 months in prison for his participation in an insider trading scheme in which he passed material, non-public information regarding six [...

Former Bank President and Senior Loan Officer Indicted in Multi-Million-Dollar Fraud Conspiracy

Posted on March 23, 2011
Failed Stockbridge Bank Allegedly Fleeced Before Being Seized By Feds ATLANTA?An indictment unsealed today charges two former top officers of FirstCity Bank of Stockbridge, Georgia?MARK A. CONNER, 44, formerly of Canton, Georgia, and CLAYTON A. COE, 44, of McDonough, Georgia?with a variety of offenses, including conspiracy to commit bank fraud and bank fraud in connection [...

New Jersey Man Sentenced for Eastern Shore Bank Fraud Conspiracy

Posted on March 22, 2011
NORFOLK, VA?James C. Alberts, 45, of Point Pleasant, N.J., was sentenced in Norfolk federal court today to four and one-half years in prison for conspiring to commit bank fraud, and was ordered to pay over $1.7 million in restitution. Alberts previously pled guilty to the charge on December 6, 2010...

Organizer of International Securities Fraud Ring Charged in Stock Manipulation Conspiracy Using Hackers and Botnet Operators

Posted on March 22, 2011
NEWARK, NJ?Federal agents arrested the alleged organizer of an international securities fraud ring employing hackers, botnet operators, and e-mail spam distributors today for conspiring to artificially inflate the value of stocks through the scheme, U...

Amerifirst Executive Sentenced to 25 Years in Securities Fraud Scheme That Preyed on Senior Citizens

Posted on March 21, 2011
Fraud Involved Roughly 600 Victims and More Than $50 Million DALLAS?Jeffrey Charles Bruteyn, 40, of Dallas, was sentenced today by U.S. District Judge Barbara M. G. Lynn to 25 years in prison, following his conviction in April 2010 on nine counts of securities fraud, announced U...

Denny Hecker Sentenced for Bankruptcy Fraud and Conspiracy to Commit Wire Fraud

Posted on March 21, 2011
Earlier today in federal court in Minneapolis, local auto-mogul Dennis Earl Hecker, age 58, of Medina, was sentenced to 120 months in prison for crimes committed in connection with his scheme to defraud financial lenders and others out of millions of dollars...

Youngstown Man Charged with Wire Fraud after obtaining money and property by false means.

Posted on March 20, 2011
A one-count information was filed charging Jonathon M. Tepper, age 21, of Youngstown, Ohio, with wire fraud, Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, announced today. The information charges that from on or about June 23, 2007, through on or about January 4, 2009, Jonathon M...

Former Treasurer of International Fraternity Sentenced in Connection with Bank Fraud

Posted on March 20, 2011
WASHINGTON?Terry Davis, 43, the former elected National Treasurer of Phi Beta Sigma, an international fraternal organization headquartered in Washington, D.C., has been sentenced to time served of 31 months in prison for committing bank fraud stemming from his theft of more than $50,000 from the fraternity?s bank accounts, announced U...

Four Charged in Multi-Million-Dollar Mortgage Fraud Scheme

Posted on March 19, 2011
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida; John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office; Henry Gutierrez, Postal Inspector in Charge, U.S. Postal Inspection Service; and Jason Moran, Special Agent in Charge, Federal Deposit Insurance Corporation, announced today the unsealing of an indictment charging [...

Maryland Man Pleads Guilty in Mortgage Fraud Scheme

Posted on March 19, 2011
WASHINGTON?Noah Black, 42, of Hyattsville, Maryland, pled guilty today to federal charges of wire fraud and aggravated identity theft in connection with a mortgage fraud scheme, announced U.S. Attorney Ronald C. Machen Jr.; James W. McJunkin, Assistant Director in Charge of the FBI?s Washington Field Office; and David Beach, Special Agent in Charge, Washington Field [...

Former Sugar Grove Man Pleads Guilty to Federal Charges of Mail Fraud in Operating a $9 Million Ponzi Scheme

Posted on March 19, 2011
ROCKFORD?PATRICK J. FITZGERALD, United States Attorney for the Northern District of Illinois, and ROBERT D. GRANT, Special Agent in Charge of the Chicago Division of the Federal Bureau of Investigation, today made the following announcement: Today in federal court, ALGIRD NORKUS, 66, of Aurora, Illinois, formerly of Sugar Grove, pled guilty to mail fraud that [...

Country Club Hills Man Sentenced to 20 Years in Prison for Mortgage Fraud

Posted on March 19, 2011
CHICAGO?A Country Club Hills man was sentenced today to 20 years in federal prison in one of the largest federal mortgage fraud prosecutions ever in Chicago. The defendant, Bobbie L. Brown, Jr., 47, pled guilty last year to charges in two separate indictments, each alleging of mail, wire, and bank fraud...

Man Who Stole Over $26 Million from Investors Sentenced to More Than Six Years in Federal Prison

Posted on March 17, 2011
LAS VEGAS?A former Lake Las Vegas resident who convinced persons in the United States and Japan to invest over $26 million in mining projects in South America, Nevada, and California and a real estate project in Arizona was sentenced today to six-and-a-half years in federal prison and ordered to pay $23...

Springfield Real Estate Agent Pleads Guilty to Concealing Assets in a Bankruptcy Proceeding and Making a False Statement to a Bank

Posted on March 17, 2011
SPRINGFIELD, IL?A Springfield, Illinois real estate agent, Darlene M. Adkins, 65, today entered pleas of guilty to concealing assets in a bankruptcy proceeding and making a false statement to a bank, as announced by Jim Lewis, U.S. Attorney for the Central District of Illinois...

Wallingford Man Admits Involvement in Mortgage Fraud Scheme

Posted on March 16, 2011
David B. Fein, United States Attorney for the District of Connecticut, today announced that JO?MELL THOMAS, 29, of Sigwin Drive, Wallingford, waived his right to indictment and pleaded guilty yesterday, March 7, before Chief United States District Judge Alvin W...

Twin Cities-Area Brothers Plead Guilty to Operating a $4 Million Mortgage Fraud Scheme

Posted on March 16, 2011
Earlier today in federal court in Minneapolis, two brothers pleaded guilty to orchestrating a $4 million mortgage fraud scheme that defrauded 24 area lenders. Baretta Dean Bork, age 35, of Mound, and Xavier Willis Bork, age 32, of Eden Prairie, pleaded guilty to one count of conspiracy to commit mortgage fraud through the use of [...

Annapolis Loan Officer Sentenced to Prison for Mortgage Fraud

Posted on March 15, 2011
BALTIMORE?U.S. District Judge J. Frederick Motz sentenced James Dan, age 46, of Annapolis, Maryland, today to a year and a day in prison followed by three years of supervised release for conspiracy to commit wire fraud in connection with a mortgage fraud scheme which promised to help homeowners facing foreclosure keep their homes, but left [...

Former Chairman of Pennsylvania Investment Banking Firm Pleads Guilty in Manhattan Federal Court to Insider Trading

Posted on March 15, 2011
PREET BHARARA, the United States Attorney for the Southern District of New York, announced that RICHARD A. HANSEN, a former chairman of The Keystone Equities Group (“Keystone Equities”), pled guilty yesterday in Manhattan federal court to conspiracy and securities fraud charges in connection with his participation in an insider trading scheme...

Suburban Man Allegedly Swindled $105 Million from Approximately 400 Victims in Investment Fraud Scheme

Posted on March 14, 2011
CHICAGO?A suburban Chicago man was charged with allegedly engaging in an investment fraud scheme, swindling more than $105 million from approximately 400 victims who invested in funds he purported to operate. Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois; Tom Brady, Inspector-in-Charge of the United States Postal Inspection Service, Chicago; and [...

Colleyville Businessman Who Owned Metro Buys Homes Pleads Guilty to Federal Mail Fraud Charge

Posted on March 14, 2011
Defendant Faces Up to 20 Years in Federal Prison DALLAS?David Boles, 52, of Colleyville, Texas, who owned Metro Buy Homes, LLC., pleaded guilty this afternoon before U.S. Magistrate Judge Irma C. Ramirez to one count of mail fraud, announced U.S. Attorney James T...

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