Aaron Yashouafar Bankruptcy Fraud Allegations, Robert Paisola Wire Report

 

SKY LAS VEGAS LAWSUIT UPDATE- We just  received an official confirmation that all of the 79 units at Sky Las Vegas that are owned by the developer, are going to have the power to their units cut off on April 3, 2011.  We were shown the actual stack of certified letters that were required to be sent to the unsuspecting tenants of the units.  We have covered this issue before in great detail and now that the Interim Executive Director is in place, the gift of fiscal oversight is now gone.  We are told that that the residents of this building have been paying monies to the developer Massoud Aaron Yashouafar or years, however the payments never seem to have made it to the Sky Las Vegas HOA. This is part of a series of articles that chronicilize the business dealings of Massoud Aaron Yashouafar from Coast to Coast.  Keep Reading.

This is an HSK exclusive that has uncovered a family who is seriously one of the worst economic parasites both on the court system and to the citizens of Los Angeles.

Just because you fork out millions of dollars on property, doesn’t mean you have the immediate right to move in — That is, if the property we’re talking about was once owned by Massoud Aaron Yashouafar. Meet Massoud Yashouafar. Here’s a man who has reportedly swindled a fortune from renters and homeowners across the nation, and now that he’s facing a financial crisis, he is fighting to keep his foreclosed Beverly Hills mansions.

They are located at 9439 Sunset Blvd., where he has family members who are non English speaking squatting the place in a dilapidated house living like peasants in the Alborz Mountains.

There are also the 910 Rexford Dr., and 580 Chalette Dr. properties. Massoud Yashouafar and his wife, Parinaz Yashouafar, live on the Rexford Dr. property while Solyman Yashouafar and Soheila Yashouafar live on the Chalette property. They were both set for trustee’s sale on March 2 and 3 by Pacific Western Bank but on the day before the sale, Massoud and Solyman transferred their houses to a Delaware real estate company named Sambria Realty, LLC. Sambria Realty LLC. was formed just one month prior on 01/31/2011.

They formed it just days before they went to Court to get a T.R.O. which they obtained then lost. This was their back up plan which has now moved forward into federal court. Sambria Realty, LLC then filed a Chapter 11 in the United States bankruptcy court. HSK is told the United States Trustee’s office is looking into whether this was a fraudulent bankruptcy as Massoud signed the petition and it is his company! What a scam! Jacky can’t believe these people.




Here is what HSK has further learned and believes. The problem Massoud Yashouafar has is that one of those high end homes has since been bought and paid for. Now, Yashouafar (who is well versed on the ins and outs of real estate law) is reportedly manipulating the system in order to buy time to pay his creditors and let his free loading extended family live there for free.

While 99% of the Persian Jewish community are some of the hardest working people in California, con artists like the Massoud Yashouafar and Ezri Namvar are pariah’s on what is one of Southern California’s hardest working communities. These economic terrorists prey on the weak and their own ethnic trust by their own community members.

Numerous Persians living in Beverly Hills were interviewed for this story but they don’t want to go on record because they are afraid the Yashouafars will sue them or call them to explain in Farsi. The goal of this piece is to simply let as many people know what is really go on with this little second rate Madoff. Persian residents of Beverly Hills are outraged as this gives them all a bad name and breeds prejudice against them.

The facts are as follows:

On January 13, 2011, a professional foreclosure business paid $5,800,000.00 in cash after winning the bid on Beverly Hills property located at 9439 Sunset Boulevard, formally owned by Massoud Yashouafar. Since there was debt in front of the $5.8M second, the total price the buyer paid was over $7.7M. This, after the home was foreclosed upon on December 13, 2010, and was publicly listed for sale beginning on January 6, 2011. Now, Massoud Yashouafar argues the sale of the home should be void because of frivolous formalities including who the Trustee was at the time of the sale, options other than foreclosure of the property were not explored for him, and the trustee failed to post notice of the sale. But the bottom line is this: the property was paid for, and Massoud Yashouafar is $33,000,000.000 in debt, that was against the property until the foreclosure sale.

But the 6,891 square foot, seven-bedroom, seven-bath, 30 year old dilapidated Sunset Boulevard home isn’t the only piece of property at the center of Yashouafar-related litigation’s. Not coincidentally, as stated above, the trustee sale of Yashouafar’s 910 Rexford Drive Beverly Hills mansion was continued from February 4, 2011 to February 24, 2011 – due to the Yashouafar’s going into another Court and asking for a delay. The hearing was held on February 23, 2011. No one can argue that here too, Yashouafar has manipulated the system to buy time to delay paying his creditors. The Yashouafars lost that hearing and the preliminary injunction was denied. As stated above, they then transferred the property into their own real estate company which they then filed a bankruptcy for.

The reason why these people are Little Madoff’s is because they borrowed $2M from an elderly Jewish man in New York named Sina Abselet. They never recorded the loan until it was behind two bank loans. He is now going to lose the $2M that was cross collaterized on the Chalette and Rexford properties. As they were going out on Chalette, Solyman somehow got Fereydoun Dayani to lend them a $1M in October of 2010. If this wasn’t good enough, they conned an invalid named Howard Abselet, Sina Abselet’s son, to give them $6M to be secured by the Sunset Blvd. property.

He was wiped out in the sale on January 13, 2011
.
What is truly shocking is they enlisted their business partner and friend, Hamid Joseph Nourmand, the nephew of the elderly Sina Abselet and a well respected attorney in Beverly Hills, to arrange for Howard Abselet’s investment and represent him in the transaction. He also handled Sina’s as well. Obviously, the state bar is going to revoke his license when Howard Abselet’s attorneys are through with him but what is shocking is that HSK discovered that on August 14, 2002, for a sweetheart price of $2.6M, none other than Massoud Yashouafar sold Hamid Joseph Nourmand and Doris M. Nourmand, their house at 722 N. Bedford Dr. Doris Nourmand is a M.D. and a well received one as well. In addition, when HSK went to go by to interview them, they had a large armed security guard posted in front of their house. How many people have they screwed over to warrant this type of protection?

The Yashouafars presently have the following cases to show what a drain they are to the court system:
They have a lawsuit against Pacific Western to stop the foreclosure which the Court denied that request for their Chalette and Rexford properties.

They have a lawsuit against the buyer at the Sunset Blvd. property. Fortunately, on March 3, 2011, another judge granted a motion to expunge their lis pendens and denied their attempt to get a restraining order against further transferring the property.

They are defendants in a lawsuit in front of a third judge in the same courthouse in Santa Monica set for trial the first week of April where they are looking at a $20M judgment where an attachment has already been issued.

They have an in pro per bankruptcy, meaning they filed it without an attorney for their company Sambria Reality, LLC. Only problem is, companies can only appear in court through attorneys. Jacky knows his law, let me tell you.

All the while, Massoud and Parinaz Yashouafar’s house is lined with Bentleys, Ferraris, and other luxury motor vehicles. How disgusting can one family be? They are living off the Abselet’s $8,000,000.00, the Dayani’s $1,000,000.00, and the bank’s $9,000,000.00. Give Jacky one of those vehicles bought with other people’s money mane!

Massoud Yashouafar may be late in paying his dues, but he has never been late when it comes to collecting money from those who have rented property from him. In fact, his tenants have all contributed to the Milbank Real Estate tycoon’s lavish Beverly Hills lifestyle, while he compromised their quality of life. Now, the man who’s dubbed “One of New York’s Ten Worst Landlords” is a nationally credited slumlord who maximized his profit by drastically minimizing spending on property maintenance (if any), often in deteriorating neighborhoods, while leeching away the wealth of the poor who rent from him. Some of his rental properties have racked-up more than 500 unresolved violations, others have been condemned and several are (like his residential properties) being foreclosed upon.

When Yashouafar purchased nearly 20 Bronx, New York buildings back in 2006 (one year before buying his Sunset Boulevard residence), he promised his family-owned real estate development company Milwood Holding Corp. planned “revitalization would occur by infusing the capital necessary to improve the condition of the buildings.” That never happened. In fact the conditions were so bad — one couple with a new born baby, Luis Delatores and Erica LaGuerra, were forced to move from their top fifth floor unit inside one of the Bronx properties to a second floor unit after the leaking roof lead to the new mother’s fall down a set of soggy stairs, leaving her with an injured back. The new parents were also forced to travel across the city to shower at their in laws’ home because their shower was not working for several months. That’s a far cry from the sort of lifestyle Yashouafar has lived in Beverly Hills.

Tenants at another Yashouafar-owned Bronx property were forced to endure frigid winter temperatures inside their homes because both heat and hot water were absent from the building for six consecutive months. Those residents eventually took action in the form of a protest, where they displayed signs posted with “No Hot Water! No Heat!” and showcased rats which they caught inside of their units. In another desperate attempt to take action, residents of another Yashouafar-owned Bronx property contacted the press after living without a working elevator, forcing some elderly and disabled residents to face the daily challenge of climbing up several flights of stairs to get to their units daily. The countless cries for help by tenants eventually gained some attention, but Yashouafer himself never responded. One court-appointed receiver for ten of the foreclosed upon Bronx properties, Joe Cicciu, said “We go to some of those apartments and try to fix things, patch things up, to give people a chance to live in decent apartments. But for the people with the collapsing ceilings, we are trying to relocate them into vacant units. The problem is, most of the vacant units need a gut renovation! And we don’t have the dollars for that anymore.”

And while there was no money for Bronx repairs to be found — on the other side of the country, residents of a Yashouafar-owned Nevada property, Paradise Spa, are wondering why close to a million dollars in fire insurance money is missing.



85-year-old Iris Hokanson is one of those Paradise Spa residents. “I don’t know what to say about it except that there are a bunch of crooks in here,” says Hokanson. The elderly woman is still forking out monthly payments on her unit which was condemned by the state of the Nevada after fire ripped through her home, last January. “All the money that I’ve already paid and I still owe money, and I have nothing. And no place to move back in. And I don’t know what I’m going to do,” says Hokanson. According to public record, $842,871.84 in insurance money, meant to finance fixing the building, was collected and reportedly delivered to directly Massoud Yashoafar’s Los Angeles office. The problem is not one penny of that money was invested back into the fire torn building. “When we found out that most of the money is either gone or absconded with, I said this is unconscionable. This is the worst case of elder abuse I’ve ever seen,” says former Nevada State Senator William O’Donnell.

This guy Massoud Yashouafar is a scumbag! That’s why he and his brother fled from Iran back in the 70′s. (For those of you who may not know, that’s when Iran’s government was much like Egypt’s now…crooked. As a result, the Iranian people revolted against the Shah of Iran…but unlucky for the people of Iran when the crooked dictator was removed, another one took over.)

Guys like Massoud Yashouafar and his brother who is like the Ali Hassan al-Mahid to Massoud like he was to Saddam, support that sort of crooked governing, and have no problem with keeping people in bondage. That’s why he fled to America only to follow that same unlawful practices. Someone should tell Massoud and his family that America is not Iran, and we will not allow criminals to get away with crime…we will shine light on them and bring them to justice! Some of you may be wondering why Jacky is so upset with Massoud Yashoafar. Know why? Because Massoud ripped off my homey’s grandmother mane, and ripping off the elderly is not cool in my books.

EXCLUSIVE- Michael Jackson's Father JOE JACKSON LIVES AT THE SKY LAS VEGAS, Robert Paisola Reports Live

EXCLUSIVE- Michael Jackson's Father JOE JACKSON LIVES AT THE SKY LAS VEGAS, Robert Paisola Reports Live

For Immediate Release
Copyright 2010 Robert Paisola Inc.
All Rights Reserved

"We were told that if we said a word about this that we would be fired" said a seasoned employee at Allied Barton, the Security Company contracted to secure the Sky Las Vegas Complex.

Western Capital Multimedia has verified that Joe Jackson moved into the Luxury Las Vegas High rise on October 1, 2010. He is staying in a unit on the 27th Floor, sources confirmed.

Michael Jackson's father does not stand to inherit any of his late pop icon son's assets - but he might get an allowance.

Joe Jackson was not named in the singer's will but could bid for financial assistance from the estate because he claimed his son had been supporting him, Judge Mitchell Beckloff said.

Former steelworker Joe had managed and trained his children while organizing the Jackson 5 - a group that launched Michael's highly successful solo career.

Joe Jackson takes none of this estate. This is a decision his son made.

But Joe and his world-famous entertainer son, who died aged 50 at his rented home in Beverly Hills on June 25, had an often-strained relationship.

At one point, Michael said he would get physically sick - as a child and as an adult - at the sight of his father.

Joe was omitted from the late star's will, with all the assets going to Michael's mother, his children and children's charities.

Judge Beckloff ended a Los Angeles hearing over Joe's claim to the multi-million pound estate by ruling he had no grounds to prolong the legal battle and would gain nothing from doing so.

"I don't think he gets to step into this and create further litigation," the judge declared.

"Joe Jackson takes none of this estate. This is a decision his son made."

Joe Jackson's Monthly Expenses

:: Rent for Las Vegas home - $1,200 (£716)

:: Eating out - $2,500 (£1,492)

:: Entertainment, gifts and holidays - $1,000 (£597)

:: Air travel - $2,000 (£1,194)

:: Hotels - $3,000 (£1,791)

Figures from court documents


Court documents said the father receives a $1,700 (£1,015) monthly federal pension payment and had relied on Michael for support for many years.

In another development, the court revealed that the estate had paid nearly $1m (£0.6m) in expenses for the private family funeral held at Forest Lawn Memorial Park.

The costs included: $11,716 (£6,994) for invitations and programmes; $35,000 (£20,888) for burial garments; $30,000 (£17,904) for cars and security; and $15,000 (£8,952) to a designer.

"I would have done it less expensively. But it was Michael Jackson, who was larger than life," the estate administrators' lawyers Howard Weitzman said outside court.

"There's no reason he should not have a funeral that's larger than life."

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We are two foreigners and I won't rest until I get them!!!

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Robert Paisola, CEO of Western Capital Announces Class Action Lawsuit Againt Debt Collection Agencies and Creditors who use E-Oscar, Court Awards 1.5 BILLION DOLLARS Wait until we are done with Sky Las Vegas...God Help Them!!

September 07, 2010

Los Angeles, California

Robert Paisola Reports for Thompson Reuters Business Network

Copyright Robert Paisola, 2010 All Rights Reserved

Today was a very bad day for The Debt Collection Industry and Credit Grantor's alike, as A Ruling by a 10th Circuit Judge has stated:

Case law has borne out that this method of investigation is not sufficient. In Cushman vs. Trans Union, Stevenson v. TRW (Experian), and Richardson vs. Fleet, Equifax, et al, the courts ruled each and every time that the CRA couldn't merely "parrot" information from the creditors and collection agencies. They must conduct an independent REASONABLE investigation to ensure the validity of the debt and the honesty/integrity of the creditor/CA in question. This is not regarded by the courts as a reasonable investigation.

Because of a case unilaterally filed in The United States District Court for the Western District of Oklahoma, against Midland Credit Management, Equifax, Experian and Trans Union by Consumer Credit Activist Vance Dotson in Association with Robert Paisola, The CEO and President of The Western Capital Foundation, it is now possible based upon this landmark decision that ANY COMPANY THAT UTILIZES THE E-OSCAR CREDIT DISPUTE SYSTEM (99 percent of the credit grantors and collection agencies) WILL BE HELD LIABLE FOR VIOLATIONS OF THE FAIR CREDIT REPORTING ACT, UNDER on this landmark decision based upon the following cases:

Cushman vs. Trans Union, Stevenson v. TRW (Experian), and Richardson vs. Fleet, Equifax, et al,

Based upon this ruling, the Complainant, Vance Dotson, and Robert Paisola are creating a class action lawsuit against The Debt Collection Industry and The Credit Granting Community.

If you have been a victim of this scam, please send your information to class.action@mycollector.com 

Speaking  to a representative of Midland Credit Management, "We can not believe that the Federal Court ruled against us.  This puts the entire system of debt validation into question."

"The Federal Class Action Lawsuit seeks $525,000,000 (Million Dollars) in Actual Damages and A MINIMUM OF 900 Million Dollars in Punitive Damages. "

Stay tuned for further information, as this issue effects millions of Americans who have fell victim to Trans Union, Experian, and Equifax.  This also has serious implications for Business Credit Gathering Agencies, such as Dunn and Bradstreet and Experian Business Credit 

For The Media:

Vance Dotson can be reached at vance@vancethecreditdoctor.com

Robert Paisola can be reached at robert@robertpaisola.com  

or www.RobertPaisola.com or www.VanceTheCreditDoctor.com

For The Victims:

Congratulations America, Your Voice is being heard! We won!

www.WesternCapitalVip.com for Constant Updates

Where in the hell is my $900,000 DOLLARS, The Sky Las Vegas Board Meeting LIVE! Robert Paisola Reports Via Satellite

EXECUTIVE SESSION COMING SOON.... YOU THINK THIS WORLD IS FAIR? DO YOU THINK YOU CAN HANDLE THE TRUTH.... WE WILL SEE.. 

A QUESTION WE RECEIVED FROM A CLASS ACTION ATTORNEY, THIS IS GETTING BIG! 

Mr. Robert Paisola:

Thank you for all that you are doing.  I had an associate review the tape in detail and I am highly concerned.  The Attorney representing the Homeowners Association had better get his facts straight, as there is a serious legal question that must be reviewed.  

Here is our question:

During the meeting there was a statement that a man named   Barry Bartl  (From Intuit Corporation.. from your site) & a lady named  Lisa Nance whom PERSONALLY sent out RECALL LETTERS TO MEMBERS OF THE SKY LAS VEGAS OWNER VOTING BLOCK.  Has this not possibly clouded, tainted, or at least confused the SKY 2010 election because the period that the recall process spans includes the regular SKY election period. It should also have been anticipated that issuing such a letter would naturally trigger a response which is a reasonable reaction to such accusations; thus creating even more confusion to the owners.  We believe that under Nevada Law, that there can be no FAIR and EQUITABLE election given these negligent actions.

Have Barry Bartl & Lisa Nance violated any Nevada Laws for their part in interfering with the SKY 2010 election? IN New York there are severe Criminal (Felony) Penalties for similar actions that would be levied against Bartl and Nance by the US ATTORNEY.  If so, what remedies are available?  

Our next issue is with the email list that was obtained. The board has an obligation to dig into this matter, in order to prove to the Voting Block that they were not given personal data from Prescott Management. I would immediately file suit and seize the computers (If the FBI does not do it first)

Please post this for Counsel, and provide the reply.

Thank you sir,

NAME WITHHELD FOR PRIVACY

August 10, 2010
For Immediate Release
Las Vegas Nevada,

LISTEN TO THE FULL UNEDITED CONTENT OF THE BOARD MEETING THAT WAS PROVIDED TO WESTERN CAPITAL MULTIMEDIA ANONYMOUSLY

(May take 2 Minutes to load)

The Sky Las Vegas is a Tower Community in Las Vegas Nevada built approximately 4 years ago.  We began to cover this project, after we had lengthy discussions with current employees of THE PRESCOTT MANAGEMENT COMPANIES.  Our investigation has gone far and wide and has created massive attention around the world as Home Owner Associations are dealing with issues that have never before been seen.

In the next 24 Hours we are going to present to you LIVE STREAMING AUDIO that you can listen to to verify what we have been saying for the past 2 months.

If you are a contractor and you believe that THE SKY LAS VEGAS has a claim against you, DO NOT WORRY, They cant even pay the "$100,000.00 for the independent assessment" to validate your damages to the property.  Also, If you are a home owner, the board provides the Management Office ( Christine A. Gibbs) the ability to waive two late fees, so just pay when you feel like it.  If you are the developer, hell, do not worry about paying, "we have it all resolved"  Oh, there is a "VERY GENEROUS MAN WHO EVEN WORKS WITH THE MGM ( WE HAVE A CALL INTO MGM FOR COMMENT) That is going to save YOU 100 percent on your utility bills, and low and behold, the rebate check that we received was BIGGER than we expected.. So what about all of the people who paid in the past that got ripped off... YOU WILL NOT BELIEVE WHAT YOU WILL SOON HEAR!

Sky Las Vegas Not Only Company Sued For Fraud. Robert Paisola Reports

Sky Las Vegas and Christine Gibbs and Prescott Management Are Not Alone!

In This Issue...

Title Agency Operator Indicted on Mortgage Fraud Charges
Defendant Sentenced for Concealing a Mortgage Fraud Scheme
Mortgage Fraud Scheme Gets Three Charged
5th Person Pleads Guilty in Mortgage Fraud Case
Texas Announces “Operation Stolen Dreams” Results
Cash Back Scam Results in 5 Indictments
7 Indicted in Arizona for Mortgage Fraud
FBI Agent, Police Officers and Others Charged for Investment Scheme
Florida Woman Indicted for Mortgage Fraud
Man Charged with Submitting False Loan Documents
Anderson Appraisals in San Diego to be Indicted for Criminal Actions outlined in Court Mustafa v Crane
Search Mortgage Fraud Blog

Tuesday, July 06, 2010

Title Agency Operator Indicted on Mortgage Fraud Charges

Anthony V. Weis, 45, Phoenix, Maryland, was indicted on charges of wire and mail fraud in connection with a mortgage fraud scheme to defraud lenders of over $3.4 million.
According to the 16 count indictment, Weis was the president and a shareholder of Maple Leaf Title LLC, a real estate title agency located at 11 E. Chesapeake Ave., Towson,...

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Defendant Sentenced for Concealing a Mortgage Fraud Scheme

Jay Leonard, a Maryland resident, has been sentenced for his participation in concealing a mortgage fraud scheme. Leonard has been sentenced to 3 months in prison.
Per the Indictment (1st, superseding), Leonard concealed a multi-million dollar mortgage scheme to purchase properties in Maryland, Virginia, and Washington DC, using mortgage and...

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Mortgage Fraud Scheme Gets Three Charged

James Merrill Roberts, 41, Cedar Hills, Utah, and Christopher Ethington, 35, and Janet H. Ethington, 33, both of Riverton, Utah, have been charged with mortgage fraud in a 12-count indictment. The indictment alleges they operated a scheme to identify residential properties, recruited straw buyers, and, through false statements on loan...

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5th Person Pleads Guilty in Mortgage Fraud Case

Christopher Stovall, 37, Bakersfield, California, pleaded guilty to four counts of mail fraud in connection with a mortgage fraud scheme involving Crisp & Cole Real Estate. Four other persons, including Megan Balod, Leslie Sluga, Kevin Sluga, and Jerald Teixeira, have previously pleaded guilty in related cases.
In pleading guilty, Stovall...

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Monday, July 05, 2010

Texas Announces “Operation Stolen Dreams” Results

Operation Stolen Dreams, which targeted mortgage fraudsters in the Eastern District of Texas and throughout the country is the largest collective enforcement effort ever brought to bear in confronting mortgage fraud.
George M. Baehr, Jr., 35, Dallas, Texas pleaded guilty to an Information on June 16, 2010, charging him with mail fraud. Baehr...

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Friday, July 02, 2010

Cash Back Scam Results in 5 Indictments

Joseph Bowen Brown, Jason Thomas Williams, Benjamin Marcette Jackson, Kendall Price Schmitz and Matthew Brennan Chambers, all residents of Phoenix, Arizona, have been indicted on charges ranging from Conspiracy to Commit Wire Fraud, Wire Fraud, Money Laundering and Aiding and Abetting.
According to the Indictment, Joseph Brown and Jason Williams...

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7 Indicted in Arizona for Mortgage Fraud

Thomas Gregory Alexander, Paul Patrick Alexander and Bobbie Jo Johnson all from Scottsdale, Arizona, Kara Elizabeth Shumway and Michael S Mason both from Mesa Arizona, Sandra M Stevens, Chandler Arizona, and Michael Joseph Harris, Phoenix, Arizona, have all been indicted on charges ranging from Conspiracy, Wire Fraud, Money Laundering and False...

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Thursday, July 01, 2010

FBI Agent, Police Officers and Others Charged for Investment Scheme

Joseph Guaracino, 32, Plantation, Florida, former Plantation police officer;

Steven Stoll, 43, Fort Lauderdale, Florida, attorney;
Stephen Orchard, 34, Boca Raton, Florida, attorney;
Matthew Gulla, 35, Davie, Florida, mortgage broker;
Rene Rodriguez, Jr., 37, Plantation, Florida, mortgage broker;
Dennis Guaracino, Jr., 34, Plantation, Florida,...

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Florida Woman Indicted for Mortgage Fraud

Marie Decosta Quintana, 40, North Miami, Florida, as a result of an investigation led by the Palm Beach County Mortgage Fraud Task Force. The defendant was arrested Tuesday, June 29, 2010, and made her initial court appearance in West Palm Beach, Florida.
The two-count indictment charges defendant Quintana with making false statements on loan...

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Wednesday, June 30, 2010

Man Charged with Submitting False Loan Documents

Shawn Bramlett, 30, Jeffersonville, Indiana, has been charged with one count of engaging in a conspiracy with unnamed co-conspirators to commit bank and wire fraud, and thirteen counts of wire fraud.
The Indictment alleges that Bramlett and unnamed co-conspirators perpetrated a fraudulent scheme against various banks and commercial lending...

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Straw Buyer Charged in Mortgage Fraud Scam

Ultha Danielle Accime, 39, Boynton Beach, Florida, has been charged with fraud as a result of an investigation led by the Palm Beach County Mortgage Fraud Task Force.
The two-count indictment charges defendant Accime of making false statements on loan applications to Bank of America and JP Morgan Chase Bank, N.A., to purchase property in the ...

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Lawsuit Filed against Loan Modification Company

Discount Mortgage Relief and Mortgage Relief, LLC, (DMR/MR), Scottsdale, Arizona, and its owners, have been sued for engaging in allegedly deceptive loan modification services.
The Arizona Attorney General's Office, who initiated the lawsuit, also secured a Temporary Restraining Order that prevents DMR/MR from charging or receiving money for...

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Tuesday, June 29, 2010

Loan Officer Pleads Guilty to Mortgage Fraud Scheme

James Dan, 45, Annapolis, Maryland, pleaded guilty to conspiracy to commit wire fraud in connection with a mortgage fraud scheme which promised to help homeowners facing foreclosure keep their homes, but left them homeless and with no equity.
According to his plea agreement, James Dan met an associate in Annapolis, Maryland, when both were loan...

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Florida Cracks Down on Mortgage Fraud

The following defendants have been charged with various forms of mortgage fraud:
Joseph Daniele has been arrested on a complaint alleging that he ran a "no money down" fraudulent investment scheme involving more than 400 properties, 75% of which are in foreclosure.
Michael Joseph Chadwick, who allegedly used fraud to obtain mortgages on nine...

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Defendant Convicted of Bankruptcy Fraud

James Moser, 66, Overland Park, Kansas, has been convicted on bankruptcy fraud charges.
A federal jury returned a verdict in a trial that began June 14, 2010, in U.S. District Court in Topeka, Kansas. The jury found Moser guilty on one count of conspiracy to commit bankruptcy fraud and eight counts of bankruptcy fraud. Moser was...

Monday, June 28, 2010

R.E. Attorney Pleads Not Guilty to Falsifying Loan Documents

Christopher B. Maselli, 38, North Providence, Rhode Island, a real estate attorney, pleaded not guilty at his arraignment in U.S. District Court. Christopher Maselli entered a not guilty plea before U.S. District Court Magistrate Judge David L. Martin.
A seven count indictment alleges Maselli falsified bank and federal tax documents, and lied...

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15 Charged for Connecticut Mortgage Fraud Scams

15 individuals have been charged for their alleged involvement in three separate mortgage fraud schemes.
US vs. Babar, et al
Syed A. Babar, New London, Connecticut was indicted on April 27, 2010 by a federal grand jury on charges of wire fraud and conspiracy offenses stemming from a mortgage fraud conspiracy that he is alleged to have headed....

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Florida Man Convicted of Mortgage Fraud

Manuel Ruiz Quiroz, 43, Miami, Florida has been convicted of two counts of mail fraud in connection with his submission of false documents in his applications for mortgages to refinance and purchase two homes, one at 352 SW Lakehurst Drive and the other at 866 SW Curry Street, Port St. Lucie, Florida. The two closings took place on February 10,...

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Friday, June 25, 2010

Oregon Bans 2 California Mortgage Modifiers

Noah Savings Mortgage and Liberty Law Firm have had settlement agreements drawn up that will provide refunds to Oregon homeowners and prohibit them from doing further loan modification work in Oregon.
The Oregon Department of Justice investigated allegations that Noah Savings Mortgage violated state law by collecting advance fees for loan...

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Metropolitan Money Store Loan Officer Pleads Guilty

Rolando Alonzo Cousins, a/k/a "Junior," 32, Bowie, Maryland, pleaded guilty to conspiracy to commit mail fraud and wire fraud in connection with a massive mortgage fraud scheme which promised to help homeowners facing foreclosure keep their homes and repair their damaged credit, but left them homeless and with no equity. With Cousins' plea all...

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Georgia Indictments Announced in Connection with Operation Stolen Dreams

Douglas Ballard, the former executive vice president and risk management officer, and Joseph Foster, the chief lending officer, were indicted on several counts of bank fraud, receipt of bribes, securities fraud, and structuring of cash deposits. The 51-count indictment (returned by a federal grand jury on April 14, 2010), relating to the...

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Short Sale Fraud on the Rise

A warning has been issued to homeowners about an alarming rise in short sale fraud across California in a field "rife with scam artists".  
A short sale is an arrangement in which a homeowner sells his or her home for less than the outstanding mortgage, with the consent of the lender.
Attorney General Edmund G. Brown Jr. joined the California...

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Thursday, June 24, 2010

17 Defendants Charged in 7 Separate Cases

On May 19, 2010, federal agents interrupted the closing on an allegedly fraudulent mortgage transaction and arrested the five defendants who were each charged with one or more counts of bank fraud in a five-count indictment returned a week before their arrest:
Daryl Fernandes, 45, and Obrian Fernandes, 39, Chicago, Illinois, controlled four...

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Wednesday, June 23, 2010

Law Enforcement Cracks Down on Mortgage Fraud

The two cases involving mortgage fraud in Ventura, California, name a total of 14 defendants, all of whom face potential sentences of hundreds of years in prison if they are convicted in the schemes that cumulatively helped unqualified and straw borrowers obtain tens of millions of dollars in fraudulent mortgage loans.
Peter Morris, a California...

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North Carolina Mortgage Fraud Cell Indicted

A federal indictment in the Western District of North Carolina has charged ten individuals with various criminal counts including mortgage fraud conspiracy and bank bribery conspiracy has been unsealed upon the arrests of most of the defendants.
Drew Sharreff-El, A/K/A "Mack Ahizi", 46, Charlotte, North Carolina, has been charged with one count...

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“Operation Stolen Dreams” Targeting Mortgage Fraudsters in California

Fifty-six individuals in the Northern District of California are facing mortgage fraud related charges as a result of Operation Stolen Dreams.
Nearly $44 million in losses were inflicted by the mortgage fraud schemes employed by the alleged fraudsters in the Northern District of California. Seven individuals in the District have pled guilty to...

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Tuesday, June 22, 2010

R.E. Attorney Indicted for Falsifying Loan Documents

Christopher B. Maselli, 38, North Providence, Rhode Island, a real estate attorney, has been indicted on charges he falsified bank and federal tax documents, and lied about his income and assets, in obtaining more than 1.5 million dollars in mortgages.
According to the indictment, between December 2007 and March 2009, Maselli, a self-employed...

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Three indicted in $16M Straw Buyer Scam

Ericvan Anthony McDavid, 35, Brooklyn Center, Minnesota; Larry Africanus Hutchinson, 39, St. Paul, Minnesota; and Jerone Ian Mitchell, 34, Minneapolis, Minnesota, were charged via federal indictment for an alleged mortgage fraud scheme that resulted in a $16 million loss for lenders. The defendants are charged with one count of conspiracy to...

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Leader of Sub-Prime Mortgage Fraud Scheme Pleads Guilty

Sharmon Howell, a/k/a "Sharmon Wade," ,36, of Queens, New York pleaded guilty for his role as the leader of a "subprime" mortgage fraud scheme involving more than two dozen fraudulent loans totaling over $10 million.
According to the Indictment and Howell's plea allocation:
As previously reported on Mortgage Fraud Blog, from 2006 through 2007, ...

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Developer Admits Loan Fraud Charges

Clayton Hargrave, St. Louis, Missouri, has pleaded guilty to fraud charges involving his Washington Avenue development. Hargrave pleaded guilty to one felony count of wire fraud before United States District Judge Charles A. Shaw. Sentencing has been set for July 29, 2010.
According to the court documents, Hargrave was a designer and developer...
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Tuesday, June 22, 2010

Woman Charged with R.E. Investment Ponzi Scheme

Antoinette Hodgson, 58, Montclair, New Jersey, has been arrested on charges that she orchestrated a $45 million real estate Ponzi scheme that fraudulently solicited investments from over twenty New York and New Jersey investors. Hodgson is charged in a Complaint with one count of wire fraud conspiracy and one count of wire fraud, and surrendered...

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Man Charged with Real Estate “Advance Fee” Scheme

Tony Huy Havens, 36, Modesto, California, has been charged in a 30 count indictment with wire fraud and criminal forfeiture.
According to the indictment, Havens targeted victims in at least eight states who were seeking multi-million dollar loans for large construction projects that were in danger of foreclosure. Havens provided the victims with...

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Monday, June 21, 2010

Missouri Announces its “Operation Stolen Dreams” Indictments

The U.S. Attorney's Office for the Eastern District of Missouri announced the regional results of the nationwide takedown, Operation Stolen Dreams, which targeted mortgage fraudsters in the Eastern District of Missouri and throughout the country and is the largest collective enforcement effort ever brought to bear in confronting mortgage fraud....

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FinCEN Analysis: Foreclosure Rescue Scam Reports Increase

The Financial Crimes Enforcement Network (FinCEN) released its first analysis of suspicious activity reports (SARs) containing information about potential foreclosure rescue scams. The report, Loan Modification and Foreclosure Rescue Scams - Evolving Trends and Patterns in Bank Secrecy Act Reporting, involved an analysis of more than 3,500 SARs...

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86 Residents Charged in “Operation Stolen Dream” Mortgage Fraud Case

In South Florida, from March 1, 2010 to date, the combined inter-agency effort in "Operation Stolen Dreams" has resulted in a record number of prosecutions, among them:
Yolette Antoine & Constance Powell were charged in a mortgage fraud scheme that resulted in the approval and disbursement of approximately $4.4 million in fraudulent mortgage...

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36 Indicted for Minnesota Mortgage Fraud Schemes

Jesse Steven Moxness, Thanh Van Ngo, Dang Hai Nguyen, Vince Long Nguyen, and Trung Quang Tran were charged on June 16, 2010, with one count of conspiracy to commit wire fraud and eight counts of mortgage fraud through use of interstate wire.
The indictment sets forth a pattern of behavior routinely seen by those who commit mortgage fraud. It...

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Fraud Enforcement Task Force Announces Regional Results

Some of the significant California federal prosecutions filed as part of Operation Stolen Dreams include the following:
Anthony G. Symmes pleaded guilty on May 28, 2010, to mail fraud conspiracy and money laundering in connection with a large-scale builder-buyout mortgage fraud scheme. For many years, Symmes was the largest homebuilder in Chico,...

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Virginia Announces Results of Operation Stolen Dreams Targeting Mortgage Fraudsters

Operation Stolen Dreams cases in the Western District of Virginia included:
Timothy Scott Brooks, 38, Lynchburg, Virginia, and Adam Nash Spruill, 32, Forest, Virginia, pleaded guilty in the United States District Court for the Western District of Virginia to one count of conspiracy to commit bank fraud, mail fraud, wire fraud, fraud by false...

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28 Charged in Coordinated Mortgage Fraud Takedown

Nine criminal Complaints have been unsealed charging 28 individuals with participating in various mortgage fraud scams that collectively sought to defraud lenders out of more than $5.5 million and involved more than 17 New Jersey properties.
Rodrigo Molina, a licensed real estate agent; Domingo Fuentes, an investor who owned multiple companies...

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Nevada Man Indicted for Foreclosure Rescue Scheme

George M. Eggleston, 63, Las Vegas, Nevada, has been charged with wire fraud and mail fraud in a foreclosure rescue scheme. A federal grand jury returned the indictment on June 10, 2010 and was unsealed after Eggleston's arrest. The indictment also seeks forfeiture of all property and proceeds obtained directly or indirectly in the scheme....

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Trio Indicted for Mortgage Loan Scheme

Albert Lewis Ellis, 46 Fresno, California, Richard Keith Hanna, 42, Elk Grove, California, and Wrenl Burge, 38, Fresno, California, have been charged with conspiracy to commit mail fraud, three counts of mail fraud, and one count of identity theft. The indictment also seeks forfeiture of all property and proceeds obtained directly or indirectly...

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Builder and 7 Others Indicted for Mortgage Fraud

Garret Griffith Gililland III, 28, formerly of Chico, California, now in federal custody, Nicole Magpusao, 30, also formerly of Chico, California, and now in federal custody, and eight additional defendants, in connection with a large mortgage fraud scheme in the Chico, California area. As previously reported on Mortgage Fraud Blog, defendants ...

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California Mortgage Fraud Sweep Nets 14

14 individuals linked to mortgage fraud operations that filed fraudulent loan applications, collected millions of dollars in fees and commissions, and caused millions of dollars in losses when the homes went into foreclosure, have been indicted. Two indictments outline schemes in which real estate professionals prepared mortgage applications...

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38 Defendants, 8 Separate Cases, Charged for Various Mortgage Fraud Scams

17 Defendants were arrested as part of an undercover New York operation, others charged with loan modification schemes that allegedly victimized over 240 distressed homeowners. 38 total defendants, in eight separate cases, have been indicted for allegedly engaging in various mortgage fraud scams that collectively defrauded lenders out of over...

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Friday, June 18, 2010

Seven Individuals Charged in Multi-Million-Dollar Mortgage Fraud Scheme

Seven individuals were charged in a federal criminal complaint in connection with an extensive multi-million-dollar mortgage fraud scheme:
Ronnie Edward Duke, 43, Fenton, NJ; William Camsell Wells, III, 39, Howell, NJ; Wilinevah Richardson, 32, Rochester Hills, NJ; Ryan Andrew Zundel, 36, Belleville, NJ; Robert Charles Brierley, 43, New Boston,...

Friday, June 18, 2010

Maryland Announces Results of Operation Stolen Dreams

Douglas Skibicki, 41, Bethesda, Maryland, was charged in a superseding indictment on June 16, 2010, with mail and wire fraud, aggravated identity theft and bankruptcy fraud, in connection with a mortgage fraud scheme in which he allegedly defrauded lenders, family and others of over $7.4 million. According to the 17 count superseding indictment,...

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14 Linked to Mortgage Fraud in Ventura County, California

Federal and local authorities arrested 13 individuals linked to mortgage fraud operations that filed fraudulent loan applications with several banks and other lenders, generated millions of dollars in loan fees and real estate commissions, and caused millions of dollars in losses when the homes went into foreclosure because the purchasers were...

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Thursday, June 17, 2010

“Operation Stolen Dreams” Remarks by Attorney General Eric Holder

Last November, President Obama created the Financial Fraud Enforcement Task Force year to wage an aggressive, coordinated fight against financial crimes. One of the prime focuses we identified at the outset was combating mortgage fraud, and I am joined by several key partners in that fight today: IRS's Criminal Investigation Deputy Director...

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Financial Fraud Task Force Announces “Operation Stolen Dreams”

Attorney General Eric Holder, FBI Director Robert Mueller, Housing and Urban Development Inspector General (HUD-OIG) Kenneth M. Donohue, and other members of the Financial Fraud Enforcement Task Force today announced the results of a nationwide takedown, Operation Stolen Dreams, which targeted mortgage fraudsters throughout the country and is...

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10 Indicted for Making False Statements In Mortgage Applications

Hoda Samuel, 58, Elk Grove, California; Connie Devers, 40, Elk Grove, California; Dana Faulkner, 43, Oakland, California; Charles Robert Maness, 32, Elk Grove, California; Tracy Painter, 50, Lodi, California; Sean Patrick Gjerde, 34, Elk Grove, California; Ronald Burris, 36, Elk Grove, California; Ygnacia Bradford, 34, Oakland; Nicole Dawson,...

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3 Charged with Defrauding Lenders

Eric Ray Hernandez, 34, Bakersfield, California, Monica Marie Hernandez, 29, Bakersfield, California, and Evelyn Brigget Sanchez, 27, Bakersfield, California, have been charged with conspiracy to commit mail fraud, wire fraud, and bank fraud, and with 15 counts of mail fraud, relating to their alleged operation of a scheme to defraud mortgage...

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Wednesday, June 16, 2010

Lee Farkas Indictment Details Seven Year Billion Dollar Fraud Scheme

Lee Bentley Farkas, 57, former chairman of Taylor, Bean & Whittaker Mortgage Corporation was indicted in the Eastern District of Virginia, Alexandria Division, and charged with one count of conspiracy, 6 counts of bank fraud, 6 counts of wire fraud and 3 counts of securities fraud.  The indictment also seeks forfeiture of cash, real property and...

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Former Taylor Bean & Whittaker chair Lee Farkas Charged with Securities Fraud

Ocala.com is reporting that Lee Farkas, 57, former chair of Taylor, Bean & Whittaker was arrested in Ocala, Florida on Tuesday and charged with securities fraud.  According to the article, he is being held without bail and the FBI is scheduled to pick him up from the Marion County, Florida jail where he was booked after his arrest.
The raid of...

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Two Men Plead Guilty to Phony Mortgages

Timothy Scott Brooks, 38, Lynchburg, Virginia and Adam Nash Spruill, 32,  Forest, Virginia, pleaded guilty to charges they committed various frauds in relation to a scheme to obtain phony mortgages on properties located near Smith Mountain Lake, Virginia. The defendants waived their right to indictment. Each defendant pleaded guilty to one count...

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Man Sentenced for Straw Buyer Scheme

Jared Arambel, a Nevada resident, has been sentenced to 41 months in prison on a charge of conspiracy to commit mail, wire and bank fraud.
Per court documents, Arambel and his co-conspirators solicited persons to act as straw buyers and to submit loan applications and supporting documentation that contained false and fraudulent representations...

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Alleged Mortgage Fraud Orchestrator Indicted

Gary A. Noble, 31, Denver, Colorado, was indicted on a 63-count wire fraud indictment related to a mortgage fraud scheme.
According to the indictment, beginning on May 1, 2005 and continuing until March 3, 2006, Noble knowingly devised and intended to devise a scheme to defraud lending companies that funded residential mortgage loans and for...

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Stolen Funds Used to Commit Mortgage Fraud

Charles T. Wilson, 59, Plant City, Florida pleaded guilty to conspiracy to commit mail fraud, mail fraud, and false statements to a financial institution. Wilson faces a maximum penalty of 20 years in federal prison.
According to the plea agreement, from October 1998 through June 2008, Wilson, who was the Credit Manager at The Tampa Tribune,...

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Tuesday, June 15, 2010

North Carolina Man Admits Condo Investment Scam

Stevie Perkale Lee, 38, Weddington, North Carolina, has entered a plea of guilty to two federal criminal counts filed in a criminal bill of information in U.S. District Court in Charlotte, North Carolina. The counts against Lee charge that he, as President of "VP Companies USA," and "Arcadian Residence & Resort," fraudulently solicited over $1.5...

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Man Accused of Fraud Involving 400 Mortgages

Joseph F. Daniele ,39, Tampa, Florida, has been charged in a criminal complaint for conspiracy and wire fraud affecting a financial institution. If convicted on these charges, Daniele faces a maximum penalty of thirty-five years in federal prison.
According to the criminal complaint, Daniele, while being sued in federal court in Ohio for...

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Sisters Plead Guilty to Straw Buyer Scheme

Ralondria Stafford, 36, and Necole Ward, 31, both formerly of Vallejo, California, pleaded guilty to Bank Fraud.

According to court documents and as previously reported on Mortgage Fraud Blog, from 2004 through 2006, Stafford and Ward, who are sisters, operated RN Realty, a real estate office located in Vallejo, California, from which they...
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Tuesday, June 15, 2010

Florida Shuts Down Mortgage Industry Licensing Application System on July 8, 2010

On July 8, 2010, the Florida Office of Financial Regulation (OFR) will stop accepting applications for mortgage broker, mortgage brokerage business, mortgage lender and correspondent mortgage lender licenses, so that current applications can be processed before October 1. Beginning October 1, 2010, Florida will begin participation in the...

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Foreclosure “Rescuer” Sentenced for Mortgage Fraud

Jeffery Tye Brown, 50, Henderson, Nevada, was sentenced to prison following a plea of guilty to felony mortgage fraud in violation of NRS 205.372, a Category C felony, in connection with the operation of DB Financial Services, a foreclosure rescue business located in Henderson.
Las Vegas District Court Department 1 Judge Kenneth E. Cory...

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Monday, June 14, 2010

2 Convicted of Straw Buyer Scheme

Dema Daiga, 28, College Park, Maryland, and Olu Campbell, formerly known as Oluseun Oshosanya, 29, Laurel, Maryland, were convicted of numerous counts of wire fraud arising from a scheme to defraud a mortgage lending company in connection with six Baltimore, Maryland properties. Daiga was also convicted of two counts of aggravated identity theft...

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Title Lawyer Admits Mortgage Fraud Scam

Peter N. Price, 49, Hollywood, Florida, pled guilty to a criminal information charging him making false statements to HUD, in violation of Title 18, United States Code, Section 1001. In addition, Price agreed to make restitution to Stewart Title Guaranty, the victim of his fraud, in the amount of $1,608,246.57.
Sentencing is scheduled for August...

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Friday, June 11, 2010

3 Arrested in Alleged Bait and Switch Scam

Sean McConville, 30, Austin, Texas, president and co-owner of ALG Capital, Inc., a now defunct mortgage brokerage, was arrested at his residence. He is being held at the Travis County Jail in Texas pending extradition. He was previously convicted of robbery in November 1997.
Matthew Bourgo, 27, Thousand Oaks, California, who posed as a licensed...

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Real Estate Agent Admits Short Sale Fraud

Sergio Natera, 35, Bridgeport, Connecticut, a licensed real estate agent, pleaded guilty before United States Magistrate Judge Holly B. Fitzsimmons in Bridgeport to one count of bank fraud stemming from his involvement in a "short sale" mortgage fraud scheme. A short sale transaction involves a mortgage holder or lender entering into an...

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Thursday, June 10, 2010

Woman Sentenced For Inflating Income and Assets on Loan Application

Monica Cardona, 39, Upper Saddle River, New Jersey, a former loan officer at a Hackensack, New Jersey realty company, was sentenced to a year and a day in prison for committing mortgage fraud in connection with the sale of a residential property she owned in Westwood, New Jersey. Cardona pleaded guilty before United States District Judge William...

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2 Indicted for $2.5M Straw Buyer Scam

Fawaz Mahmoud Wazwaz, 33, address unknown, and Genevieve Marie McCullough, 32, Inver Grove Heights, Minnesota, a mortgage broker and real estate closing agent in the Twin Cities area of Minnesota, have been indicted in federal court for allegedly orchestrating a mortgage fraud scheme that resulted in a $2.5 million loss for financial lenders....

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Wednesday, June 09, 2010

Mortgage Broker Sentenced to 210 Months

Gregory Cooper was sentenced to 210 months in prison today for defrauding homeowners in Queens and the Bronx, New york, through a predatory mortgage scheme and for carrying out a separate scheme to defraud mortgage brokers around the country by selling them fraudulent lists of potential customers. A jury found Cooper guilty of nine counts of...

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Tips to Avoid Foreclosure Scam Artists

Stepping up efforts to prevent home loan rescue scams, a free, five-and-half-minute educational video has been released that provides useful information about home foreclosure and tips to avoid becoming a victim of scam artists.
The video is available on the Attorney General's website, http://www.azag.gov, or on YouTube at...

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Tuesday, June 08, 2010

Former Broker Sentenced for Mortgage Fraud

Gene A. Bradford, 38, Ridgeland, Mississippi, was sentenced in federal court to serve 48 months in federal prison followed by 3 years of supervised release for mortgage fraud. Bradford was ordered to pay restitution in the amount of $581,508.50.
As previously reported on Mortgage Fraud Blog, Bradford, who pled guilty in November 2008, to federal...

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Couple Pleads Guilty to Mortgage Fraud Scheme

Brian Steptoe, 41, and Natasha Steptoe, 38, Emanuel County, Georgia, pleaded guilty in federal district court to bank fraud and conspiracy to commit bank fraud, respectively.
Evidence presented during their guilty pleas revealed that the Steptoes, with the assistance of others, knowingly submitted a false loan application and other documentation...

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Man Charged For Renting Out Homes He Didn’t Own

Blair Christopher Hanloh, 46, Long Beach, California, was charged with stealing over $3.5 million in a fraudulent scheme of real property theft and renting out houses he took over. Hanloh is charged with eight felony counts of grand theft, five felony counts of recording false and forged instruments, one felony count of second degree commercial...

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Monday, June 07, 2010

Voodoo Used to Influence Outcome of Mortgage Fraud Case

Ruben Hernandez, 34, California, owner of Downey Motorcars, and co-defendant Joel Rodriguez, 45, a California resident, owner of Coast to Coast Mortgage, were sentenced in a mortgage fraud case. Hernandez and Rodriguez were convicted by a jury on May 6, 2010. Hernandez was found guilty of four counts of filing a false application and three...

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Jury Convicts 5 Involved in Mortgage Fraud Ring

Eric L. Levine, 57, Brookline, Massachusetts; J. Daniel Lindley, 62, Jamaica Plain, Massachusetts; Ernst Appolon, 31, Braintree, Massachusetts; Daniel Appolon, 23, Dorchester, Massachusettes; and Latoya Haltiwanger, 28, Los Angeles, California, were convicted of mortgage fraud stemming from a scheme that involved 21 properties in the Greater...
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Friday, June 04, 2010

Couple Pleads Not Guilty to Mortgage Fraud Charges

Thomas Komasa, 45, and his wife Heidi Komasa, 37, Kingston, New York, former Vermont residents, pleaded not guilty in United States District Court in Burlington, Vermont to charges stemming from an alleged mortgage fraud scheme.
On May 27, 2010, a federal grand jury in Burlington, Vermont returned a ten-count indictment charging the Komasas with...

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6 Charged With Submitting False Loan Applications

Brian Andrew La Porte, Daniel John Schuetz, Michael Wayne Wickware, Roxanne Yvette Hempstead, Darryl Anthony Wallace, aka Darryl Anthony White, and Terrence Smith, aka Terry Lee Smith, California residents, have been charged with submitting false and fraudulent mortgage loan applications and related documents to banks and other lending...

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Man Admits Selling Loan Mod Services

Glenn Steven Rosofsky, a California resident, pleaded guilty to a superseding information charging him with one count of conspiracy to commit wire fraud and money laundering, one count of money laundering, and one count of filing a false tax return. These criminal charges stemmed from Rosofsky's operation of a fraudulent telemarketing operation...

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4 Indicted in Joint Mortgage Fraud Investigations

Jimmy Pililimis, 36, Chicago, Illinois, Anthony Palermo, 41, Chicago, Illinois, have been indicted on multiple felony financial charges following a joint city, county and federal investigation that is part of a sweeping new crackdown on mortgage fraud in Cook County, Chicago.
Pililimis operates a Chicago-based kitchen and bath business. ...

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Thursday, June 03, 2010

Charges Filed For Participation in Mortgage Fraud Scam, Obstructing Justice

Rab Nawaz, 47, Harbor View Avenue, Waterford, has been charged by federal criminal complaint with conspiracy to commit wire fraud and with obstruction of justice. Nawaz was arrested this morning at his residence. He subsequently appeared before Senior United States District Judge Ellen Bree Burns in New Haven and was released on a $100,000 bond...

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Broker Sentenced for Stealing $6M in Loan Proceeds

Irshad a/k/a "Tony" Ramzan, 36, Baldwin, New York, a former mortgage broker who supervised the operations of Queens-based Platinum Funding, was sentenced to seven years in prison for his roles in a scheme to steal over $6 million in the proceeds of home mortgage loans issued by various banks for the purchase of residential properties, which...

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Wednesday, June 02, 2010

Son and Mother Indicted for Investment Conspiracy

Robert E. Rosenau, 43, and Donna M. Rosenau, 64, both of Redding, California, with mail fraud and a conspiracy to commit mail fraud in a fraudulent investment scheme.
The indictment alleges that Robert E. Rosenau and his mother, Donna M. Rosenau, through their family business, Rosenau Investments Inc., took in more than $700,000 in investment...

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Loan Processors Charged in Mortgage Fraud Scheme

Kirk H. Kirby, 39, Capital Heights, Maryland, Sholonda Y. Johnson, 38, Philadelphia, Pennsylvania, and Royal K. Williams, 49, Pine Hill, New Jersey, have been charged with three counts, each, of wire fraud, in connection with a real estate investment scheme that caused more than $7 million in losses to lenders. Kirby owned and operated Invictus...

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Tuesday, June 01, 2010

Man Sentenced for Fraudulently Obtaining $588,200 from CitiMortgage

Jeffrey Michael Taylor, 36, Blaine, Minnesota, was sentenced for defrauding CitiMortgage out of $588,200.51. United States District Court Judge John R. Tunheim sentenced Taylor to 30 months in prison on one count of conspiracy to commit wire fraud in connection with his mortgage fraud crime. Taylor was charged on November 13, 2009, and pleaded...

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Developer Pleads Guilty in Mortgage Fraud Scheme

Anthony G. Symmes, 59, Paradise, California, pleaded guilty pursuant to a previously filed plea agreement. Symmes pleaded guilty before United States District Judge Edward J. Garcia to one count of conspiracy to commit mail fraud and one count of money laundering.
According to the plea agreement, from 2006 through 2008, Symmes sold 62 homes to...

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Duo Plead Guilty to Property Flipping Scheme

Cynthia D. Jordan, 43, Lee's Summit, Missouri, pleaded guilty to charges related to mortgage fraud schemes, including a $12.6 million conspiracy that involved 25 upscale residential properties in Lee's Summit, Missouri, and Raymore, Missouri, and a property-flipping scheme in Kansas City, Missouri. Jordan, who was a mortgage loan broker for...

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3 Former Mortgage Brokers Sentenced for Fraud

Charles M. Davis, 35, Rogersville, Missouri, Scott Allen Kassebaum, 42, Ozark, Missouri, Cheryl Joan Kassebaum, 43, Ozark, Missouri, three former mortgage brokers, and Steven Ray Spencer, 49, Carl Junction, Missouri and Shanda Lynn Moore, 45, Springfield, Missouri, have been sentenced in federal court for their roles in a $1.2 million mortgage...

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R. E. Agent Pleads Guilty in Mortgage Fraud Conspiracy

Angela R. Clark, 41, Lee's Summit, Missouri, a former real estate agent pleaded guilty in federal court to her role in a $12.6 million mortgage fraud conspiracy that involved 25 upscale residential properties in Lee's Summit, Missouri, and Raymore, Missouri.
As previously reported on Mortgage Fraud Blog, Clark was a real estate agent and...

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Friday, May 28, 2010

5 Charged with Submitting False Loan Applications to Lenders

Brian Bowling, 44, Sun Prairie, Wisconsin, Jason Khodadad, 29, Madison, Wisconsin, Joseph Bowman, 59, Black Earth, Wisconsin, Joshua Hughes, 28, Madison Wisconsin, and Richard Hurkman, 62, Oshkosh, Wisconsin, have been charged with submitting false loan applications to banks and mortgage lenders to obtain home mortgages.
The informations (...

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Federal Mortgage Fraud Charges Filed

Lloyd H. Gardley, 56, and Candis Gardley, 53, both of Chandler, Arizona; Suzanne McAllister, 32, Las Vegas, Nevada; Arcell Mitchell, Jr., 31, Ft. Riley, Kansas; and Sharon Wagner, 61, Sun City West, Arizona, have all been charged with conspiracy to commit bank fraud, mail fraud, and wire fraud, six counts of bank fraud, and criminal forfeiture...
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Thursday, May 27, 2010

3 Charged with Wire Fraud Resulting from Sale of 2 Properties

Sheila Chandler, 50, Schererville, Indiana, Gordon B. Rainey, 47, Merrillville, Indiana, and Randall B. Causey, 46, Gary, Indiana, were charged by indictment with 2 counts of wire fraud resulting from the 2006 sale of two properties located in Gary, Indiana. The indictment alleges that Chandler, Rainey and Causey engaged in a scheme to defraud...

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Mortgage Manager Pleads Guilty to Fraud

Peter Hartofilis, 33, Flushing, New York, pled guilty to conspiracy to commit mail and wire fraud (Count 1), and mail fraud (Count 11), in violation of Title 18, United States Code, Sections 1349 and 1341, respectively. Sentencing has been scheduled for August 16, 2010, at 10:30 am.
According to documents filed with the court and as previously...

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Man Sentenced for Aiding Mortgage Fraud

Brad Greenberg, 53, Charlotte, South Carolina, was sentenced to 4 months home confinement and ordered to pay a $5,000 fine for Misprision of a Felony, a violation of Title 18, United States Code, Section 4.
As previously reported on Mortgage Fraud Blog, evidence presented at the change of plea hearing established that from 2004 through 2006, ...

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Woman Sentenced for Misleading Lenders

Christie J. McGougan, 41, Bethune, South Carolina, was sentenced to one year and one day incarceration for participating in a Conspiracy to Falsify Loan Applications, a violation of Title 18, United States Code, Section 371. McGougan was also ordered to pay a $5,000 fine.
As previously reported on Mortgage Fraud Blog, evidence presented at the...

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Wednesday, May 26, 2010

Real Estate Investor Sentenced

Luke D. Brugnara, 46, San Francisco, California, was sentenced to 30 months in prison followed by one year of supervised release for filing false tax returns. According to documents filed with the court, Brugnara also provided a lender with invoices from a non-existent tax service, unfiled corporate tax returns and a statement that he owned more...

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Three Indicted in Loan Modification Scam

Rene Alvarez, 39, Mariano Ortega, 34, both from San Jose, California, and Cydney Sanchez, 60, Los Angeles, California, have been charged in an 83 count indictment charging them with defrauding 45 homeowners in eight northern California counties over a one year period. Those victims were part of a larger scheme that involved the theft of over $2...

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Tuesday, May 25, 2010

Trio Indicted on Mortgage Fraud Charges

Veronica Frazier, 42, Pearland, Texas, Robert Veazie, 35, Houston, Texas, and Felton Greer, 41, Houston, Texas, have been charged with fraudulently obtaining home purchase loans. The indictments were returned under seal on May 5, 2010, and were unsealed once the three defendants were in custody.
Frazier was charged in a five-count indictment...

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Woman Admits Lying on 3 Home Loan Applications

Melva Massey, 29, Waldorf, Maryland, pleaded guilty to conspiring to commit wire fraud in connection with making false statements to obtain three home mortgages within a three month period.
According to Massey's plea agreement and complaint, between June 2007 and September 2007 Melva Massey, her husband D'Von Massey and others submitted three...

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Investigation Leads to Guilty Plea in Mortgage Fraud Case

Johnson Olawoyin, Maryland, pleaded guilty to three criminal charges in a mortgage fraud case: theft, operating as a mortgage lender without a license and violating the Maryland Mortgage Lender Law and Credit Services Businesses Act.
In July 2009, the Office of the Commissioner initiated an investigation in response to a referral from a...

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Guilty Plea Entered in Case Inlving Theft of $336,000

Diana Marks, 45, a California resident, pleaded guilty to felony charges including Grand Theft, Recording False Instruments, Perjury, and Creating False Financial Documents.
Defendant Marks, who is currently in custody, is facing a four year prison term sentence. The charges were the result of an investigation by the Santa Clara County,...

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Former Real Estate Agent Convicted in Loan Modification Scam

Hector Ricardo Esquivel, San Jose, California, a former real estate agent, was sentenced to one year in jail for six felony counts of grand theft for defrauding homeowners in a loan modification scam.
Esquivel solicited victims from Santa Clara County, California and beyond between May 2008 and May 2009. Victims lost thousands of dollars in the...

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Man Admits $800,000 Mortgage Fraud Scheme

Dale Charles Dodge, Jr., 61, Alexandria, Minnesota, pleaded guilty to charges connected to a scheme to defraud mortgage lenders and others out of more than $800,000. Dodge Jr. pleaded to one count of wire fraud and one count of engaging in a monetary transaction with property derived from specified unlawful activity, commonly referred to as...

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Monday, May 24, 2010

Tennessee FBI Agent Charged with Fraud

Darin Lee McAllister, 44, Brentwood, Tennessee, a Special Agent employed by the Federal Bureau of Investigation in Nashville, Tennessee, was indicted by a grand jury sitting in Nashville, Tennessee.
The 19 count indictment charges McAllister with wire fraud in violation of Title 18, United States Code, Section 1343, bank fraud in violation of...

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4 Arrested, 5 Wanted for Fleecing Homeowners Seeking Foreclosure Relief

Gregg Scott Quinn, 37, Camarillo, California, and Juan Pierre Washington, 40, Winnetka, California, Gary Arnold Eisenberg, 71, Westwood, California, Ira Itskowitz, 58, California,  Niv Iskin, 30, Reseda, California, Reviv Karpman, 38, Tarzana, California, Tomer Kogman, 29, Receda, California, Avraham Yechizkia, 34, Encino, California, Barel...

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Woman Admits Role in Mortgage Fraud Scheme

Rosa Garcia, 34, Clinton, Connecticut, waived her right to indictment and pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud.
According to court documents and statements made in court, Garcia worked for Jose Guzman, who operated a mortgage business that arranged for individuals to obtain funding from various mortgage...
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Monday, May 24, 2010

Charges and Updates in Three Mortgage Cases

Anthony G. Symmes, 59, Paradise, California, has agreed to plead guilty to an information, charging him with one count of conspiracy to commit mail fraud in connection with a builder bailout scheme involving fraudulent sales of 62 houses, and with one count of money laundering. Symmes, who is an attorney, a CPA, a developer, and the largest home...

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Friday, May 21, 2010

Mortgage Fraud Mastermind Sentenced

Patricia Morgen, 63, most recently of Chicago, Illinois, the founder and head of Chicago Development and Planning, was sentenced to 15 years and eight months in prison, and ordered to pay more than $9 million in restitution for wire fraud, mail fraud, and money laundering.

As previously reported on Mortgage Fraud Blog, Morgen pleaded guilty on...

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Fraud and Insider Abuse

Mortgage fraud investigations by the FBI increased 400% in 2009, according to an Office of Thrift Supervision (OTS) report on fraud and insider abuse.
According to the report, "Difficult economic times often lead to an increase in fraud and insider abuse. During the market downturns of the late 1980s and early 1990s, fraud and insider abuse...

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Broker Sentenced in Investment Scheme

David Wehrs, Sr., 55, Annapolis, Maryland, has been sentenced to three years in prison followed by three years of supervised release, with the first year to be served on home detention with electronic monitoring, for wire fraud in connection with a scheme to defraud investors and financial institutions. Wehrs has also been ordered to pay...

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Kentucky Man Indicted for Real Estate Fraud

Billy Dwayne McDaniel, 30, Louisville, Kentucky, has been indicted on one count of mail fraud.  The defendant was originally arrested on May 4, 2010, on a federal criminal complaint alleging similar charges.
The Indictment alleges that in March and April 2009, the defendant devised a scheme or artifice to defraud Franklin American Mortgage by...

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Thursday, May 20, 2010

Mark Kellogg Sentenced to 14 Years for Operating $5.8M Mortgage Fraud Scam

Mark Kellogg, 39, Shaker Heights, Ohio, was sentenced to 14 years for operating a large mortgage fraud scheme in Slavic Village, Ohio. Kellogg was ordered to pay restitution of $5,831,500 to lenders and $186,715 to 109 neighbors who sold properties located on the same city block as the foreclosures resulting from mortgage fraud.
Mark Kellogg,...

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Broker Convicted of Real Estate Fraud

Kathy Chen, 49, Westminster, California, a real estate broker, was convicted of conspiring with her boyfriend and his brother to commit $17.5 million in real estate fraud by purchasing 35 properties using stolen identities and intentionally defaulting on loans in order to steal the loan money. Chen was found guilty by a jury of 136 felony counts...

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Fraudster Sentenced for Vacant Land Sale Scam

Daniel Stephen, 43, Miramar, Florida, and Patricia De Pons, 53, Miami Shores, Florida, have been sentenced in connection with their participation in a fraud scheme to sell vacant land to more than 1,000 victims.
According to the indictment, various documents filed with the court and as previously reported on Mortgage Fraud Blog, this case arose...

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Man Pleads Guilty to Foreclosure Investment Fraud

Diego L. Siman, 37, Miami, Florida, pled guilty to wire fraud. Sentencing has been scheduled for July 30, 2010, before U.S. District Court Judge James I. Cohn. At sentencing, the defendant faces a maximum possible statutory term of imprisonment of twenty years.
According to court documents and statements made in court, Siman sought potential...

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Attorney Sentenced for Deceiving Clients in Real Estate Deals

Hugh Zuber, 39, Monsey, New York, a lawyer formerly employed by the Office of the Corporation Counsel for the City of New York, was sentenced in Manhattan, New York Federal court to 20 months in prison for defrauding two former clients whom Zuber had represented in a personal capacity in connection with their sale of real estate. Zuber...

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17 Charged in Massive Mortgage Scam

Roger Huggins, 34, Queens Village, New York, Inderpaul Sookraj, 44, South Ozone Park, New York, Shawn D. Chand, 34, Valley Stream, New York, Trevor  Rupnarain, 48, South Ozone Park, New York, Anand Bharat, 54, Queens Village, New York, Prahalad Mahadeo, 32, South Richmond Hill, New York, Mangal Singh, 57, Westbury, New York, Ariel Huggins, 36,...

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Wednesday, May 19, 2010

3 Charged for Mortgage Fraud Scheme

Ania Nowak, 43, Zbigniew Cichy, 41, both of Belvidere, New Jersey, and Kim Salvemini, 55, Wallington, New Jersey, were arrested on a criminal Complaint charging them with conspiring to commit wire fraud. The defendants are charged by Complaint with conspiring to defraud various mortgage lenders of over $2.7 million by conducting at least five...

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President of Real Estate Investment Company Indicted

Yvonne L. Robertson, 44, Hampton, Virginia, was charged in a superseding indictment for allegedly engaging in monetary transactions in property derived from unlawful activity, as well as making materially false statements to an agent of the United States. Robertson was first indicted on February 9, 2010, along with Maria Henderson, 41, Virginia...

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Mortgage Fraud Defendant Sentenced

Brett Gibbs, a Nevada resident, has been sentenced to 12 months and 1 day in prison on charges of bank fraud and aiding and abetting in connection to a mortgage fraud scheme.
According to the criminal information and plea agreement, Gibbs knowingly caused to be submitted to U.S. Bank, a mortgage application containing false and fraudulent...

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Real Estate Investor Charged with Making False Statements

Justin Lindle Hatton, a Utah resident, the owner of a real estate investment and management company, Malibu Equity Group Inc, has been charged with making false statements to a financial institution, making and subscribing a false tax return and aiding and abetting.
According in the indictment, Hatton has been charged with falsely representing...
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