Friday, March 19, 2010
$230,000 Judgment Obtained Against Loan Company Owner
Michael Petriccione, Hartford, Connecticut, loan company owner, is subject to a judgment compelling him to pay 230,150 in restitution and penalties for allegedly taking money and failing to provide promised loans and services.
The settlement bans Petriccione from the commercial loan business in Connecticut and obligates him to pay $165,150 in...
Man Convicted in Mortgage Fraud Scheme
Gregory S. Chew, 42, formerly of Waynesville, Ohio, was convicted by a federal jury following a 15-day trial for his role in a mortgage fraud scheme involving 57 property investors and 246 residential properties located throughout the greater Dayton, Ohio area.
Carter M. Stewart, United States Attorney for the Southern District of Ohio; Jose A....
Thursday, March 18, 2010
Man Pleads Guilty in Fraud Scheme
Harris Poulikidis, 62, Overland Park, Kansas, pleaded guilty in federal court today to actions taken as part of a bank fraud scheme that forced several low-income homeowners into bankruptcy by saddling them with more debt than they were able to repay. Poulikidis pleaded guilty before U.S. District Judge Ortrie D. Smith this morning to causing an...
Fraudster Sentenced to Nearly 17 Years
Mario G. Bernadel, 51, a citizen of Haiti, was sentenced to nearly 17 years in prison for his conviction on multiple counts for leading a mortgage fraud scheme in Phoenix, Aizona that cost banks over $9 million.
Bernadel was found guilty by a jury in September 2009 on 19 counts related to mortgage fraud, including mail, wire, and bank fraud, and...
Wednesday, March 17, 2010
Forty Indicted in Major East Texas Mortgage Fraud Scheme
40 individuals have been arrested and charged in connection with a major mortgage fraud scheme in the Eastern District of Texas. The 16-count indictment was returned by a federal grand jury on March 10, 2010, and includes one count of conspiracy to commit mail and wire fraud, 12 counts of mail fraud, and three counts of money laundering.
The 40...
California Loan Brokers Ordered to Pay Penalties
Ed Veronick Mortgage Loans, Inc., and its corporate officers and employees, were sued in a civil action for conspiracy and illegal business practices between June 2004 and June 2007 to obtain an unfair advantage over competitors and earn illegal profits out of commissions on loans brokered by unlicensed persons. A civil judgment has been...
Tuesday, March 16, 2010
Judgment Rendered in Real Estate Scheme
Richard Amelung and J. Kevin Foster, North Carolina, have enetered into consent judgements in regards to the Village of Penland, Mitchell County, North Carolina real estate schemes. This brings to four the total number of defendants who have entered into consent judgments with the Attorney General's office in the case.
In June 2007, the...
New York FBI Shines Light on Potential Rental and Real Estate Scams
The Federal Bureau of Investigation's New York Office is warning the public to remain on the lookout for scams involving real estate and rental properties. Two largely reported scams, which operate through Internet advertising, are being reported by individuals who have fallen victim to such malicious behavior.
The first type of scam occurs when...
Fraudster Pleads Guilty to Land Fraud Scheme
Daniel Stephen, 43, Miami Shores, Florida and Patricia De Pons, 54, Miami Shores, Florida pled (Stephen, De Pons) guilty to conspiracy to commit mail fraud in connection with a vacant land sale scheme that defrauded more than 1,000 victims out of $10.6 million.
According to the indictment and as previously reported on Mortgage Fraud Blog, this...
Mortgage Fraud Charges Filed Against Investment Co. & Employees
Brett Depue, 36, Gilbert, Arizona, formerly of Las Vegas, Nevada, Brian Barney, 36, Fairfield, California, and Maria Ornelas, 32, Las Vegas, Nevada, are charged with conspiracy to commit bank fraud, mail fraud, and wire fraud, 11 counts of wire fraud, and criminal forfeiture.
The Indictment alleges that from about February 1, 2005, to May 31,...
Monday, March 15, 2010
Former Attorney Sentenced for Multi Million Dollar Mortgage Fraud
Trent Edward Wright, 38, Cumming, Georgia, was sentenced on a mail fraud charge involving a mortgage fraud scheme which victimized lenders and title insurance companies.
Wright was sentenced to 1 year, 9 months in prison to be followed by 3 years of supervised release, and ordered to pay $2,409,760 in restitution to the victims of the scheme....
Real Estate Investor Pleads Guilty to Loan Fraud Scam
Paul Bashi, 27, Royal Oak, Michigan, and formerly of Washington Township, Michigan, pleaded guilty to a federal information that charges him with conspiracy to commit wire fraud.
During the plea hearing and according to court documents, Bashi admitted that, from September 2006 to March 2008, he recruited straw borrowers and assisted them in...
Former Administrator Could Face Mortgage Fraud Charges
David Carabello, 57, Warwick, New York, a top administrator for the New York State Office of Mental Health, promised a promotion to an OMH employee if the employee purchased Carabello's New Jersey condominium. Carabello also may have committed mortgage fraud related to the sale.
Carabello, who was Deputy Director for Administration of the...
Friday, March 12, 2010
Police Officer Arrested for Mortgage Fraud
Brian Ragauckas, 36, Secaucus, New Jersey, a police officer, was arrested based on a Complaint charging him with bank fraud in connection with a $529,777 mortgage loan that he obtained through false representations to the former Countrywide Bank FSB.
According to the Complaint, Ragauckas and his wife own property located in Secaucus, New Jersey...
5 Charged in 327 Count Mortgage Fraud Indictment
Martina Duran (a.k.a. Gladys Arroyo), 57, Briarwood, Queens, New York, Roger Arias, 36, Ridgewood, Queens, New York, Aldo Bussi, 41, Levittown, Long Island, New York, Ramon Gaston, 29, New York, and Percy Randall, 54, Westbury, Long Island, New York, have been charged in a 327-count indictment in connection with an approximately $2 million...
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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 
