Iowa woman arrested - accused of stealing loan proceeds
Terry Hoffert
The Spencer Police Department in Iowa has announced the arrest of Terry Hoffert, the owner of an Abstract Company in relation to allegations that she kept mortgage proceeds meant to pay off first liens in refinances. Please click here for more.
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FBI in Chicago arrest Lithuanian man in wider fraud scheme
The FBI in Chicago has arrested Tomas Leiskunas in relation to 6 loans totaling $3.7 million in what is obviously a wider fraud scheme involving straw borrowers. Please click here for more.
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Florida woman arrested - allegedly sold homes she did not own
Monique Watts
The Putnam County Sheriff has announced that they have arrested 35 year-old Putnam County resident Monique Watts who is accused of selling two homes, two homes she did not own and had no legal interest in. Please click here for more.
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Illinois AG warns homeowners about foreclosure rescue scam
Illinois Attorney General Lisa Madigan today warned homeowners to look out for scam artists who claim they will help save consumers’ homes from foreclosure in exchange for an upfront fee as part of a mortgage rescue fraud scheme. Click here for more
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Two Sacramento area men indicted in “cash-back” fraud charges
US Attorney McGreggor W. Scott
Derek Davis aka Terry McCullough, 62, of Sacramento, and Dino Rosetti, 39, of Roseville, with mail fraud andmaking false statements in loan documents. Rosetti is the President of Roseville, CA mortgage broker 1st Option Mortgage. Click here for more.
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Prince George County State’s Attorney indicts 3 in fraud case
Glenn F. Ivey, Prince George County State’s Attorney
(Courtesy of Washington Post)
A Prince George’s County Grand Jury has indicted Leon Thomas Coleman, 38, and Emma Coleman of the 2100 Block of Springholly Dr., District Heights, Maryland and Kathy Lynn Ridley, 45, of Ellicott City, Maryland. The Colemans face fifty-seven counts of aggregate theft over $500.00* and various Homebuilder Act violations. Click here for more.
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Woodstock realtor gets 14 years in mortgage fraud case
US Attorney David E. Nahmias
Joseph Sterling Jetton, 61, of Woodstock, Georgia, was sentenced to 14 years imprisonment today by United States District Judge Beverly B. Martin on charges of conspiracy, bank fraud, wire fraud, and money laundering related to a multi-million dollar mortgage fraud scheme. Click here for more.
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Kansas man pleads guilty in $12 million fraud allegations
David Kostelec, of Leawood, Kansas has pleaded guilty to charges he and other conspirators fraudulently obtained more than $12 million in home loans. Kostelec admitted that he and others conspired to defraud lenders by submitting fraudulent loan applications and false real estate appraisals and attempted to conceal the crimes by laundering the money through accounts at various banks. Click here for more.
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Five from Houston area indicted in $17 million fraud
US Attorney Don DeGabriel
Anthony Wayne Hawkins, 48, Brandon Alonzo Crenshaw, 27, Nehemiah Jamal Douglas, 28, Babette Jammer, 47, and David Vasser, 59, have been charged with engaging in a mail and wire fraud conspiracy which resulted in the defendants and their co-conspirators fraudulently obtaining more than $17 million in loan proceeds. Click here for more.
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Case Updates 10/10/2008
Former Argent Mortgage manager sentenced to 9 years imprisonment.
Alex Gambini is latest defendant charged in Lake Ariel (PA) area mortgage scheme
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Wichita (KS) BBB issues warning about bogus broker
The Better Business Bureau in Wichita, Kansas has a released consumer fraud warning in relation to a company the name Brockwood Lending Group which they state is engaged in an Advance Fee Loan Scam. Click here for more.
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Nine charged Florida mortgage fraud allegations
Johnson Cutty Joy Williams
The Florida Attorney General has announced the arrests of 9 people accused of taking part in a scheme to defraud lenders of over $1 million. It states that the ringleader was Johnson Cuffy. Cuffy was also arrested by Boca Raton police along with Joy Williams in a seperate ID Theft scheme. Click here for more.
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Michigan creates mortgage fraud task force
Terrence Berg Acting United States Attorney for the Eastern District of Michigan has announced a 16 agency task force has been set up to deal with mortgage fraud in Detroit and Michigan as a whole. Please click here for more.
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Attorney one of three arrested in Miami flipping fraud allegations
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Case Updates 10/7/2008
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SEC charges mortgage brokers with Securities Fraud
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Case Updates 10/6/2008
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Oregon loan officer pleads guilty in fraud involving 70+ properties
Oregon US Attorney Karin J. ImmergutOn October 2, 2008 Marty Ray Folwick a real estate loan officer pled guilty to charges he found buyers for a property and then falsified their loan application by overstating their monthly income, failing to disclose that the buyers had an outstanding mortgage on another property, and failing to disclose that Folwick was receiving a $25,000 kickback from the transaction. At the plea hearing, prosecutors alleged that Folwick had engaged in similar illegal conduct with respect to almost seventy properties. Click here for the full entry.
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Title company owner, his son and a loan officer indicted in St Louis area fraud
Case Updates 10/3/2008
More guilty pleas in huge New York fraud
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5 sentenced in Louisiana mortgage fraud
US Attorney Donald W. Washington_________________________________________________________________________________________________
PA man admits to supplying false documents for mortgage applications
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Case Updates 10/2/2008
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DOJ in Miami announces multi-agency mortgage fraud initiative
R. Alexander Acosta - US Attorney for Southern District of Florida_________________________________________________________________________________________________
Case Updates 10/1/2008
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Mother & two daughters given probation in $7.7 million mortgage fraud
Doris Toledo Sonia Toledo Sylvia Toledo
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Illinois AG sues foreclosure rescue company in fraud allegations
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Head of settlement company pleads guilty in theft of mortgage funds
US Attorney Rod J. Rosenstein__________________________________________________________________________________________________
Case Updates 9/29/08
Wanted fugitive Mark Strodtman arrested in Mexico and flown to Los Angeles
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