Loan Modification

Twenty-Four Individuals Charged in RICO Conspiracy Based on an Extensive Mortgage Fraud Scheme with Properties Sold for More Than $100 Million

Posted on February 09, 2011
San Diego, CA?United States Attorney Karen P. Hewitt announced today the unsealing of an indictment charging twenty-four individuals with Conspiracy to Conduct Enterprise Affairs Through a Pattern of Racketeering Activity (RICO). Specifically, the defendants are charged with using a corrupt enterprise to conduct a pattern of racketeering activity, namely, wire fraud, bank fraud, and money [...

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

Posted on February 09, 2011
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 [...

Escrow Officer Admits Role in Mortgage Fraud

Posted on February 08, 2011
OAKLAND, CA?Donna Demello pleaded guilty in federal court in Oakland today to conspiracy to commit wire and mail fraud for her role in a mortgage fraud scheme, United States Attorney Melinda Haag announced. At the time of the offense, Demello worked as an escrow officer at Stewart Title in Milpitas, Calif...

Three Bakersfield Residents Charged with Conspiring to Defraud Lenders in Mortgage Fraud Scheme

Posted on February 08, 2011
FRESNO, CA?United States Attorney Benjamin B. Wagner announced today that a federal grand jury returned an indictment charging Eric Ray Hernandez, 34, Monica Marie Hernandez, 29, and Evelyn Brigget Sanchez, 27, all of Bakersfield, with conspiracy to commit mail fraud, wire fraud, and bank fraud, and with 15 counts of mail fraud, relating to their [...

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Vallejo Sisters Plead Guilty to Mortgage Fraud

Posted on February 07, 2011
SACRAMENTO?United States Attorney Benjamin B. Wagner announced today that Ralondria Stafford, 36, and Necole Ward, 31, both formerly of Vallejo, pleaded guilty today before United States District Judge Morrison C. England, Jr., to Bank Fraud. According to court documents, from 2004 through 2006, Stafford and Ward, who are sisters, operated RN Realty, a real estate [...

Bank Employees, Real Estate Agents, Mortgage Broker, and Other Bay Area Individuals Indicted on Mortgage Fraud-Related Charges

Posted on February 07, 2011
Federal Agents Apprehend 18 Defendants from Throughout Bay Area SAN FRANCISCO?Today 18 individuals were apprehended on mortgage fraud-related charges, United States Attorney Joseph P. Russoniello announced. Over the last few months, a federal grand jury in San Francisco indicted these individuals on charges relating to alleged mortgage fraud schemes perpetrated between 2005 and 2009...

Texas Man Sentenced for Bank Fraud

Posted on February 06, 2011
TYLER, TX?U.S. Attorney John M. Bales announced today that a 43-year-old Flint, Texas man has been sentenced to federal prison for bank fraud in the Eastern District of Texas. BRYAN L. MOORE pleaded guilty on June 9, 2009, to an Information charging him with two counts of bank fraud and was sentenced to 63 months [...

Brookwood Man Faces 34-Count Federal Indictment in Mortgage Fraud Scheme

Posted on February 06, 2011
BIRMINGHAM?A federal grand jury today indicted a Brookwood man on wire fraud and false statement charges related to a more than $1 million mortgage fraud scheme in the Birmingham area, announced U.S. Attorney Joyce White Vance. A 34-count indictment filed in U...

California Real Estate Executive Pleads Guilty to Bid Rigging at Public Foreclosure Auctions

Posted on February 05, 2011
A real estate executive pleaded guilty today in U.S. District Court in Sacramento, California, to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, California, Christine Varney, Assistant Attorney General of the Department of Justice’s Antitrust Division, and Benjamin B...

Hecker Confidante Sentenced for Lying to Investigators, Helping to Hide a Cadillac

Posted on February 05, 2011
James Carl Gustafson, a 49-year-old former employee of auto mogul Denny Hecker, was sentenced earlier today in federal court in Minneapolis for his role in Hecker?s scheme to defraud financial lenders and others out of millions of dollars. United States District Court Judge Joan N...

Man Sentenced to More Than Three Years in Federal Prison in Mortgage Fraud Scheme

Posted on February 04, 2011
DALLAS?James Ragnauth, a defendant charged in a mortgage fraud case, who was on the lam for about six weeks and apprehended on a shrimp boat in the Caribbean Sea by the U.S. Coast Guard in March 2009, was sentenced today by U.S. District Judge Sidney Fitzwater to 37 months in federal prison, announced U...

Housing Developers Convicted in Dallas City Hall Corruption Case are Sentenced

Posted on February 04, 2011
DALLAS?At separate sentencing hearings today, U.S. District Judge Barbara M.G. Lynn sentenced housing developers Brian L. Potashnik and Cheryl L. Potashnik, who were convicted in what has become known as the Dallas City Hall Corruption Case, announced U...

Las Vegas Woman Sentenced to Over Two Years in Prison for Mortgage Fraud Crimes

Posted on February 04, 2011
LAS VEGAS?A Las Vegas woman who pleaded guilty to submitting six fraudulent mortgage loan applications during 2004 to 2005, was sentenced today to 27 months in prison, five years of supervised release, and was ordered to pay approximately $1 million in restitution to five federally insured financial institutions, announced Daniel G...

IRS Employee Pleads Guilty in Federal Court to Receiving a Bribe

Posted on February 03, 2011
DALLAS?Fernando Hernandez pleaded guilty this morning before U.S. District Judge Sam A. Lindsay to one count of receiving a bribe by a public official, announced U.S. Attorney James T. Jacks of the Northern District of Texas. Hernandez, 33, of Dallas, faces a maximum statutory sentence of 15 years in prison and a $250,000 fine...

Tucson Loan Officer and a Real Estate Agent Both Indicted in a Mortgage Fraud Conspiracy

Posted on February 03, 2011
TUCSON?U.S. Attorney Dennis K. Burke announced a federal grand jury in Tucson returned a six-count indictment against Scott Tyson, age 43, and Susan Levy, age 69, of Tucson, Arizona. The indictment charges the defendants with wire fraud and conspiracy to commit wire fraud...

Brookwood Man Faces 34-Count Federal Indictment in Mortgage Fraud Scheme

Posted on February 03, 2011
BIRMINGHAM?A federal grand jury today indicted a Brookwood man on wire fraud and false statement charges related to a more than $1 million mortgage fraud scheme in the Birmingham area, announced U.S. Attorney Joyce White Vance. A 34-count indictment filed in U...

Amarillo Woman Sentenced for Embezzling Approximately $93,000 from Firstbank Southwest

Posted on February 02, 2011
AMARILLO, TX?Megan Elaine Hahn, 23, of Amarillo, Texas, was sentenced today by U.S. District Judge Mary Lou Robinson to 12 months and one day in federal prison, announced U.S. Attorney James T. Jacks of the Northern District of Texas. In addition, Judge Robinson ordered that Hahn pay $93,255 in restitution...

Sylmar Brothers Arrested in Loan Fraud Case That Collected Over $5 Million in Only Eight Months

Posted on February 02, 2011
LOS ANGELES?Two brothers were taken into federal custody this morning on charges that they bilked private lenders out of more than $5 million by pledging as collateral properties they did not own and fabricating numerous documents to support their false claims...

New London Man Admits Operating Extensive Mortgage Fraud Scheme

Posted on February 02, 2011
David B. Fein, United States Attorney for the District of Connecticut, announced that SYED A. BABAR, also known as ?Ali? and ?Asad,? 28, of New London, pleaded guilty today before Chief United States District Judge Alvin W. Thompson in Hartford to multiple federal charges related to BABAR?s involvement in an extensive mortgage fraud scheme...

Real Estate Investor Indicted for

Posted on February 01, 2011
Real Estate Investor Indicted for Mail Fraud LITTLE ROCK?Jane W. Duke, United States Attorney for the Eastern District of Arkansas, announced that Mark Madison, age 37, a licensed agent for a stock broker, was indicted today by a federal grand jury. The indictment charges Madison with 23 counts of wire fraud and 17 counts of [...

Crofton Loan Officer Sentenced to 27 Months in Prison in Mortgage Fraud Scheme

Posted on February 01, 2011
BALTIMORE, MD?U.S. District Judge J. Frederick Motz sentenced James William Fox II, age 40, of Crofton, Maryland today to 27 months in prison, followed by three years of supervised release, for conspiracy to commit wire fraud in connection with a mortgage fraud scheme which he promised to help homeowners facing foreclosure keep their homes, but [...

Dallas Businessmen Involved in Mortgage Fraud Scheme Sentenced to Federal Prison

Posted on January 31, 2011
DALLAS?Three Dallas businessmen, Mark Manners, Robert L. Loeb, and Andrew Siebert, who were involved in a massive mortgage fraud scheme that they ran in the area, were sentenced this afternoon by U.S. District Judge Barbara M.G. Lynn, announced James T...

Nine Sentenced in Alaska?s Largest Mortgage Fraud Investigation

Posted on January 31, 2011
ANCHORAGE, AK?United States Attorney Karen L. Loeffler announced that on August 21, 2009, lead defendant Lance Lockard was sentenced to 70 months in prison for his leadership of a large-scale mortgage fraud scheme. Lockard was the ninth and last defendant to be sentenced for his role in the largest mortgage fraud investigation in Alaska?s history...

Cleveland Indictments for Thirteen Charged in Mortgage Fraud Scheme

Posted on January 29, 2011
Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, announced that a 25-count federal grand jury indictment in Cleveland, Ohio, was returned today against Kimberly Wilson, Michael Boyce, Beyond Wynn, Darlena Rogers, Drummell Coffey, Lawrence Calloway, Gerald Ford, Nafessah Walker, Travis Haynes, Antoinece Robin Boyd, Lavon Ruderson, Wesley D...

Ohio Man Charged in Mortgage Fraud Scheme

Posted on January 29, 2011
William J. Edwards, United States Attorney for the Northern District of Ohio, announced today that an information has been filed against Paul R. Tomko charging him with one count of mail fraud in connection with mortgage loans that were obtained fraudulently...

Lawyer Sentenced for Stealing More Than $3 Million in Mortgage Fraud Scheme

Posted on January 28, 2011
A 40-year-old lawyer from Hudson, Wisconsin, was sentenced earlier today in federal court in Minneapolis for stealing more than $3 million in a mortgage fraud scheme. United States District Court Judge Patrick J. Schiltz sentenced Jason Eric Fischer to 50 months in prison on one count of mail fraud and one count of money laundering...

Attorney, Title Company Employee and Builder Found Guilty of Wire Fraud and Money Laundering in a Multi-Million Dollar Mortgage Fraud Scheme

Posted on January 28, 2011
HOUSTON?Today, a jury sitting in United States District Judge Sim Lake?s Courtroom found Vincent Wallace Aldridge, former fee attorney for First Southwestern Title Company and attorney for Aldridge and Associates, along with Tori Elyse Aldridge, a former employee of First Southwestern Title Company and Gilbert Barry Isgar, a co-owner of Waterford Homes, guilty of charges [...

Beltsville Leader in Mortgage Fraud Scheme Sentenced to Over Four Years in Prison

Posted on January 27, 2011
Paid Over 15 Straw Purchasers and Used False Documents to Buy 25 Properties; Received Over $3.8 Million in Fraud Proceeds BALTIMORE, MD?U.S. District Judge J. Frederick Motz sentenced Timothy Reed, age 45, of Beltsville, Maryland, today to 51 months in prison followed by five years of supervised release for mail fraud arising from the fraudulent [...

Woman Charged in Scheme to Defraud Dwelling House S&L

Posted on January 27, 2011
PITTSBURGH?One resident of Coraopolis, Pa., has been indicted by a federal grand jury in Pittsburgh on charges of bank fraud, money laundering and monetary transaction in criminally derived property, United States Attorney David J. Hickton announced today...

Attorney Employed by New York City Corporation Counsel Arrested for Mortgage and Real Estate Fraud and Forgery of A Bankruptcy Judge?s Signature

Posted on January 26, 2011
LEV L. DASSIN, the Acting United States Attorney for the Southern District of New York, and JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the arrest of HUGH ZUBER — a lawyer employed by the Office of the Corporation Counsel for [...

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