3 Indicted for Mortgage Fraud Enterprise

Allison Tussey —  April 18, 2011 — Leave a comment

Takara Madkins, 34, North Ridgeville, Ohio, and her company, D. & T. Investments, Inc. have been indicted for mortgage fraud crimes.  Others indicted were Jerrall Collier, 37, Walton Hills, Ohio, and Darrick Ceasor, 39, Shaker Heights, Ohio, and his company, Dee Cee Supply. All the homes fell into either tax or mortgage foreclosure, leaving a current tax delinquency amount of $30,349.15 owed to the county.

Takara Madkins was a Probation Officer for Cuyahoga County in 2004. She was also participating as a key leader in a criminal enterprise that arranged for $486,500 in fraudulent loans. The enterprise involved buyers, sellers, and money launderers to obtain these fraudulent loans for six Cleveland, Ohio, houses. Four schemes were utilized to deceive the lenders: loan application fraud; down-payment scheme; bogus promissory note and second mortgages; and kickbacks to Madkins, the buyers, and others when these deals closed.

Takara Madkins and her company D & T Investments, formerly located in Cleveland Heights, Ohio, were each indicted on charges of engaging in a pattern of corrupt activity, conspiracy, money laundering, theft by deception, and tampering with records. Madkins was also indicted on telecommunications fraud.

Jerrall Collier, a friend of Madkins, sold two of the houses listed in the indictment. To receive the net amount that he sought, Collier participated in the down payment schemes, bogus promissory note and second mortgages, and the kickback schemes. He pocketed approximately $93,000 from these fraudulent deals. Jerrall Collier was indicted on charges of engaging in a pattern of corrupt activity, conspiracy, and forfeiture of $100,000 that was seized during a search warrant in 2008.

Darrick Ceasor, and his company, Dee Cee Supply, formerly located in Cleveland, participated in fraudulent activity concerning one of the houses that included laundering $41,000. Ceasor was indicted on charges of money laundering, theft by deception, and tampering with records.

The six houses listed in the indictment are the following:

3697 Independence, Cleveland, Ohio;

1108 E. 112, Cleveland, Ohio;

4159 E. 146, Cleveland, Ohio;

8118 Platt, Cleveland, Ohio;

12609 Angelus, Cleveland, Ohio; and

411 Dundee, Cleveland, Ohio.

With funding from the Ohio Attorney General’s Office and the Organized Crime Investigations Commission, the Task Force was formed in December 2007. The Task Force is comprised of federal, state, and local law enforcement agencies. The director of the Task Force is a Sergeant of the Cuyahoga County Sheriff’s Office.

The defendants will be arraigned April 28, 2011.

County Prosecutor Bill Mason and the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General and Ohio’s Organized Crime Investigations Commission announced the indictments.

The investigation continues by the Sheriff’s Office in connection with their participation in the Mortgage Fraud Task Force.

Be Sociable, Share!

Allison Tussey

Posts Google+

No Comments

Be the first to start the conversation.

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong> 

*