Friday, November 20, 2009
Guaranty Title Owners Indicted for Fraud and Money Laundering
Richard G. "Rick" Burton, 59, Nixa, Missouri, and Kathy Cyrena Allen, also known as Kathy Stanton, 66, Sarcoxie, Missouri, were charged in a 19-count indictment returned by a federal grand jury in Springfield on Tuesday, Nov. 17, 2009.
The federal indictment alleges that Burton and Stanton, through their companies, conspired to defraud...
Mortgage Fraudster Admits Laundering Ill Gotten Gains
Kevin M. O'Connell, 35, Albany, New York pled guilty to a one-count information charging him with the felony offense of laundering of monetary instruments in violation of Title 18, United States Code, Section 1956(a)(1)(A)(i), in connection with his role in an extensive mortgage fraud scheme that defrauded financial institutions and other...
Builder Convicted In Mortgage Scheme
Mark Strodtman, 52, Windsor, Coloarado, was found guilty of 23 criminal counts including, COCCA - Pattern of Racketeering (a class two felony; punishable by up to 48 years in prison if aggravating circumstances are met), Theft $15,000 or more 11 counts (a class three felony; punishable by up to 24 years in prison per count). Forgery - check /...
Identity Thief Pleads Guilty to Mortgage Fraud
Randal Antoine, 36, Columbia, South Carolina, pled guilty to wire fraud and illegally using a Social Security number in connection with a mortgage fraud scheme.
As previously reported on Mortgage Fraud Blog, Antoine devised a scheme to defraud AmeriDream, Inc., a company that provided down payment assistance to first-time home buyers. The scheme...
Thursday, November 19, 2009
7 Charged in Million Dollar Mortgage Fraud Scheme
Amy Schloemann, aka Amy Kinney; Karim Akil, aka Scott Kinney, aka Scott Kenney; Wonda Louise Kidd; Michelle McGuire; Kaska Clay, aka Mark Lane, aka Michael Lewis; James Ross; and Darnell Thomas were indicted on charges of conspiracy to commit wire fraud, wire fraud, and money laundering for their roles in a mortgage fraud scheme that involved...
Appraiser Indicted for False Statements
Thomas Preston, 49, Norwalk, Connecticut, was indicted one count of making a false statement on a mortgage loan application.
According to the indictment, Preston owned and managed a real estate appraisal company known as Redding Appraisers, and provided appraisals of real and commercial real estate in Connecticut to real estate agents. On...
Professor Sentenced for Mortgage Fraud Scheme
Pamela Gail Holder has been sentenced to 12 months and one day in prison for her role in a mortgage fraud scheme. Following a one-week jury trial in April 2009, Dr. Holder was found guilty of both bank and wire fraud charges.
As previously reported on Mortgage Fraud Blog, Dr. Holder, a professor of nursing at Middle Tennessee State University...
Wednesday, November 18, 2009
Second Missouri Man Sentenced in Major Mortgage Fraud Scheme
Robert P. Wrolstad, O'Fallon, Missouri, was sentenced on a mortgage fraud scheme involving the sale of residential real estate located in Sikeston, MO. After sentencing, the district court remanded Wrolstad to the custody of the United States Marshals to commence his sentence.
Wrolstad was sentenced to 108 months on a 34-count indictment for his...
Deed Forger Sentenced in Real Estate Fraud Case
Oralia Hidalgo, 46, Colton, California, was sentenced to prison for real estate fraud related crimes. Hidalgo was ordered to serve five (5) years in the California state prison system. The defendant was found guilty on nine (9) felony counts ranging from forgery, grand theft, filing of false instruments, and a grand theft enhancement, which were...
Tuesday, November 17, 2009
Man Arrested for Real Estate Ponzi Scheme
William Arthur Sassman II, 41, Sacramento, California, who "looted" the life savings of dozens of investors to bankroll his lavish lifestyle and prop up a multi-million dollar real estate and business Ponzi scheme, has been arrested.
Sassman was arrested at his residence on a total of 100 counts: 43 counts of grand theft, 40 counts of...
Kansas City Broker Pleads Guilty to Mortgage Fraud
Wildor Washington, Jr., 39, Leawood, Kansas, has pleaded guilty to mortgage fraud charges. Washington pleaded guilty to one count of conspiracy, seven counts of wire fraud and three counts of money laundering. In his plea, he admitted in 2003 he conspired with other defendants to obtain mortgage loans by submitting inflated property appraisals...
Metropolitan Money Store President Sentenced to 151 Months
Joy Jackson, 41, Fort Washington, Maryland, president of the Metropolitan Money Store was sentenced to 151 months in prison followed by five years of supervised release for conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair...
Missouri Man Sentenced in Major Mortgage Fraud Scheme
Russell Todd McBride, Creve Coeur, Missouri, was sentenced on a mortgage fraud scheme involving the sale of residential real estate located in Sikeston, Missouri. McBride was sentenced to 135 months on a 34-count indictment for his involvement in the scheme.
As previously reported on Mortgage Fraud Blog, McBride was an operator of Century...
Monday, November 16, 2009
Broker Pleads Guilty to 6 Felony Counts in Cash-Back Mortgage Fraud Scheme
Jeffrey Todd Crandell, 33, Mesa, Arizona, pleaded guilty on November 9, 2009, to six counts of Bank Fraud for his role in a mortgage fraud scheme. Sentencing will take place on February 22, 2010, before U.S. District Judge G. Murray Snow.
According to the Indictment, Crandell was the leader of a sophisticated cash-back mortgage fraud scheme. In...
Former Judge Sentenced for Mortgage Fraud
Thomas E. Stringer, Tampa, Florida was sentenced to one year of supervised release for bank fraud. As previously reported on Mortgage Fraud Blog, Stringer had pleaded guilty on July 23, 2009. According to the information, Stringer engaged in a scheme to defraud a bank that loaned him money to purchase a residence in Hawaii. According to court...
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
