Loan Modification

Owner of Smart Choice Realty Wins the Phi Beta Stupid Award

Posted on February 05, 2010
Brandon Foley, an owner of Smart Choice Realty, has agreed to plead guilty in a mortgage fraud conspiracy, operating what prosecutors call a “builder kickback” scheme in Mecklenburg County. The Charlotte real estate agent, served as an agent for deals in which a builder “agreed to pay hidden kickbacks to buyers and [...

Wife of Idaho Real Estate Businessman is Cleared of Fraud and Conversion Charges

Posted on February 05, 2010
Georgia Bowman, former wife of Nampa, Idaho real estate businessman, Jerry Gunstream was ruled innocent of fraud and embezzlement charges. Judge Juneal Kerrick of the 3rd District Court denied the fraud claim in court Dec. 10 and denied the conversion claim in an order she issued Dec...

Judge to Decide How Much Madoff Victims Get

Posted on February 05, 2010
Investors who argue that fake profit in the Bernard Madoff fraud should be included in their repayment claims must wait to see if the judge overseeing the liquidation of Madoff?s defunct business will side with them. U.S. Bankruptcy Judge Burton Lifland in New York didn?t issue a ruling yesterday after a four-hour hearing [...

Lehigh woman charged in two fraud case

Posted on February 04, 2010
Email: “Lehigh woman charged in two fraud cases” *To: <–TO Email REQUIRED! *From: <–FROM Email REQUIRED!

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John Richard Varner Former President of Inland Empire Mortgage Company Sentenced to 13 Years in Federal Prison

Posted on February 03, 2010
Former President of Inland Empire Mortgage Company Sentenced to 13 Years in Federal Prison in Fraud Scheme That Led to Nearly $30 Million in Losses at HUD RIVERSIDE,CA?The former president of Mortgage One Corporation in Hesperia was sentenced this afternoon to 13 years in federal prison for defrauding the United States Department of Housing and Urban [...

Real Estate Appraiser Sentenced for Mortgage Fraud $46 Million in Losses

Posted on February 03, 2010
Real Estate Appraiser Sentenced to Three Years in Prison in Mortgage Fraud Scheme That Led to $46 Million in Losses LOS ANGELES?A former state-licensed real estate appraiser was sentenced today to three years in federal prison and ordered to pay more than $46 million in restitution for her role in a massive mortgage fraud scheme that [...

Mortgage Fraud Quentin Henley Pleads Guilty in $3.6 Million Mortgage Fraud, Money Laundering

Posted on February 03, 2010
Kansas City Man Pleads Guilty in $3.6 Million Mortgage Fraud, Money Laundering Scheme KANSAS CITY, MO?Beth Phillips, United States Attorney for the Western District of Missouri, announced that a Kansas City, Mo., man pleaded guilty in federal court today to his role in a mortgage fraud conspiracy that involved loans on 34 properties in the [...

?Mortgage Fraud? Four Sentenced in Mortgage Fraud Scheme

Posted on February 03, 2010
Four Sentenced in Mortgage Fraud Scheme DAYTON?Four participants in an extensive mortgage fraud scheme that affected 210 residential properties, including 205 in Montgomery County, were sentenced today in federal court by U.S. District Judge Michael R...

Minh-Vu Hoang, age 59, of Bethesda, Maryland, pleaded guilty

Posted on February 03, 2010
Leader Pleads Guilty in Family Scheme to Conceal Millions in Profits from the Purchase and Sale of Foreclosed Properties Concealed from IRS Millions of Dollars of Profits Made from ?Flipping? Hundreds of Properties Bought at Foreclosure Auctions GREENBELT, MD?Minh-Vu Hoang, age 59, of Bethesda, Maryland, pleaded guilty today to conspiracy to defraud the Internal Revenue Service and [...

David Wehrs Mortgage Broker Charged in Fraud Scheme

Posted on February 03, 2010
Annapolis Mortgage Broker Charged in Fraud Scheme Allegedly Stole Millions of Dollars to Day Trade and Pay Personal and Business Expenses; SEC Files Civil Action to Enjoin Against Future Securities Violations BALTIMORE, MD?A criminal information was filed today charging mortgage broker David Wehrs, Sr...

Judy ?Miu Wan? Yeung Defrauded Mortgage Lenders

Posted on February 03, 2010
Mountain View Woman Convicted of Wire Fraud and Witness Tampering Self-Proclaimed ?Honorable Lady of San Francisco? Defrauded Mortgage Lenders, Financial Institutions of $6.5 Million SAN FRANCISCO?Judy ?Miu Wan? Yeung was convicted of one count of conspiracy to commit wire fraud, eight counts of wire fraud, and three counts of witness tampering by a federal jury yesterday [...

Straw Buyers Beware of the Short Straw - Note: They?re all Short Straws

Posted on February 03, 2010
Former Real Estate Investor Comes Up with the Short Straw in Mortgage Fraud Scheme Kevin M. Lafavers of LaGrange, Ky. faces sentencing Feb. 2 in the case. He pleaded guilty to wire fraud. A former real estate investor, Lafavers pleaded guilty to federal charges that he set up straw deals to obtain inflated mortgages on more [...

Mortgage Fraud Charges Against Six People Involving Million-Dollar-Plus Houses

Posted on February 02, 2010
Investigation by Federal, State, and Local Task Force Leads to Mortgage Fraud Charges Against Six People Involving Million-Dollar-Plus Houses Two Home Builders and Former Banker Charged CINCINNATI?A two-year investigation by the Greater Cincinnati Mortgage Fraud Task Force has resulted in a seven-count indictment charging two Cincinnati area home builders, a former Huntington National Bank vice president, [...

Ralph Roberts Realtor in Macomb, Daily Breaking the News with Major Federal Case in Georgia

Posted on February 01, 2010
Atlanta?s downtrodden neighborhoods proved a gold mine for Omni National Bank and its founders, who amassed tens of millions of dollars? worth of mansions, company stock and a private jet after launching an unusual bank that financed renovations of inner-city houses...

Four Years in Prison for $27 Million Mortgage Fraud and Ponzi Scheme

Posted on January 31, 2010
MICHAEL HERSHKOWITZ, Manhattan Real Estate Developer Sentenced to Four Years in Prison for $27 Million Mortgage Fraud and Ponzi Scheme PREET BHARARA, the United States Attorney for the Southern District of New York, announced that Manhattan real estate developer MICHAEL HERSHKOWITZ was sentenced today to four years in prison for his participation in a $27 million [...

?Garry S. Martin? Sentenced to 22 Years for Arranging Fraudulent Mortgages

Posted on January 31, 2010
Orlando Man Sentenced to 22 Years for Arranging Fraudulent Mortgages ORLANDO, FL?United States Attorney A. Brian Albritton announces that U.S. District Judge Anne C. Conway today sentenced Garry S. Martin (age 36, of Orlando) for conspiring to commit money laundering in connection with various mortgage fraud schemes and violating the terms of his supervised release...

Scott Rothstein,Fort Lauderdale Attorney Pleads Guilty in Billion-Dollar Ponzi Scheme

Posted on January 31, 2010
Fort Lauderdale Attorney Pleads Guilty in Billion-Dollar Ponzi Scheme MIAMI?Jeffrey H. Sloman, U.S. Attorney for the Southern District of Florida; John V. Gillies, Special Agent in Charge, FBI, Miami Office; and Daniel W. Auer, Special Agent in Charge, Internal Revenue Service (IRS), Criminal Investigation Division, announced today that attorney Scott Rothstein, 47, of Fort Lauderdale, Fla...

Mortgage Fraud Charges, Two Home Builders and Former Banker Charged

Posted on January 31, 2010
Investigation by Federal, State, and Local Task Force Leads to Mortgage Fraud Charges Against Six People Involving Million-Dollar-Plus Houses Two Home Builders and Former Banker Charged CINCINNATI?A two-year investigation by the Greater Cincinnati Mortgage Fraud Task Force has resulted in a seven-count indictment charging two Cincinnati area home builders, a former Huntington National Bank vice president, and [...

Mortgage Fraud money would be used to buy and sell real estate, Milton Retana

Posted on January 31, 2010
Milton Retana  Con Man Found Guilty of Operating $62 Million Ponzi Scheme That Targeted Spanish-Speaking Investors LOS ANGELES?A Huntington Park man who preyed on Spanish-speaking investors with promises of hefty returns in the real estate bubble has been found guilty of federal charges for bilking more than 2,000 victims out of more than $62 million...

Chicago Bank CEO Sued for Alleged ?Shaky? Loans

Posted on January 31, 2010
Wheatland Bank in Naperville, IL, which opened less than three years ago, sued its former chief executive, Michael Sykes for allegedly breach of fiduciary duty, fraud, negligence and conspiracy. The lawsuit was filed in Cook County Circuit Court Dec...

JOSE I. FLORES.pleaded guilty to Conspiracy to Defraud Mortgage Lenders

Posted on January 31, 2010
Stamford Accountant Admits Involvement in Conspiracy to Defraud Mortgage Lenders Nora R. Dannehy, United States Attorney for the District of Connecticut, today announced that JOSE I. FLORES, 50, of Fairfield Avenue, Stamford, waived his right to indictment and pleaded guilty yesterday, January 20, before United States District Judge Christopher F...

Real Estate Fraud Charges Yield a Record 378 Years Behind Bars

Posted on January 29, 2010
Mark Strodtman, owner of JS Real Estate, LLC in Greeley, Colorado, was sentenced by a Weld County judge January 4 to 31 years in prison. A jury on Nov. 18 convicted Strodtman of 23 criminal counts including one count of a pattern of racketeering under the Colorado Organized Crime Control Act; 11 [...

Friends Betrayed their ?Friend? in an Ohio Ponzi Scheme.

Posted on January 28, 2010
In a complicated Ponzi scheme investigated by The Columbia Dispatch since July 2009, Somnath Ganguly is alleged to have stolen more than $1.5 million from them in real-estate schemes.   Columbus police have traced at least $500,000 in thefts by Ganguly and have turned the case over to the Franklin County prosecutor’s office...

Real Estate Fraud is a Family Affair for this California Father and Son

Posted on January 28, 2010
    James Merritt Eaton, 60, his son Brian Chandler Eaton, 28, both of Laguna Beach, and real estate appraisal firm executive Michael John Bell, 32, of Corona del Mar, were charged January 6, 2010 with one felony count of conspiracy to defraud another of property...

Columbus Attorney-Real Estate Broker-Architect-Minister Arrested on Tax-Fraud Charges

Posted on January 27, 2010
Aristotle R. ?Rick? Matsa, of Worthington, OH, was arrested on a 20-count federal indictment of tax fraud, obstruction of justice, and witness tampering on December 21st.   It is not clear whether Matsa will represent himself.  (Matsa is licensed to practice law in the state of Ohio...

Minnesota Homeowners Ripped Off by Mortgage Brokers Fight the Government to Save Their Homes

Posted on January 26, 2010
Michael Fiorito, 41, was convicted in May, by a federal jury on seven counts of mortgage fraud in connection with an equity-skimming scheme that targeted vulnerable homeowners.   Fiorito had been a mortgage broker at three different Minnesota mortgage companies from 2003 through early 2007...

?Mortgage Fraud Scheme? Seven Indicted in Mortgage Fraud Scheme

Posted on January 26, 2010
Seven Indicted in Mortgage Fraud Scheme  Debbie Sferrazza CINCINNATI?A federal grand jury here has indicted six members of a family and one of their employees charging them with operating a mortgage fraud conspiracy between 2004 and 2009. Carter M. Stewart, United States Attorney for the Southern District of Ohio, Keith L...

Four Sentenced in ?Mortgage Fraud? Scheme

Posted on January 26, 2010
Four Sentenced in Mortgage Fraud Scheme  Mortgage Fraud Scheme DAYTON?Four participants in an extensive mortgage fraud scheme that affected 210 residential properties, including 205 in Montgomery County, were sentenced today in federal court by U.S. District Judge Michael R...

?Operation Malicious Mortgage? Takedown

Posted on January 26, 2010
Federal Authorities Announce Significant Regional Federal Mortgage Fraud Investigations and Prosecutions Coinciding with Nationwide “Operation Malicious Mortgage” Takedown SACRAMENTO, Calif.?United States Attorney McGregor W. Scott, FBI Special Agent-in-Charge Drew Parenti; and Internal Revenue Service?Criminal Investigation Special Agent-in-Charge Scott O?Briant announced today a number of significant events that have occurred here in the Eastern District of California [...

Brian L. Nehrig ?Arm?s Length Transactions?

Posted on January 26, 2010
Former Attorney Sentenced in Fraud Case INDIANAPOLIS?Brian L. Nehrig, 43, Fishers, Indiana, was sentenced to three years’ probation today by U.S. District Judge Sarah E. Barker following his guilty plea to mail fraud. This case was the result of a investigation by the Federal Bureau of Investigation...

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