Archives For Mortgage Fraud

Emiel A. Kandi, 37, University Place, Washington, a former hard money lender, was sentenced in U.S. District Court to five years in prison, three years of supervised release and $831,607 in restitution for structuring some hard money loans to allow him to seize control of a home if the borrower missed a single payment, in others he submitted false information to lenders regarding the borrowers’ employment, salary, and intention to live in the home.

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Benjamin Bland, 39, Glen Allen, Virginia; Michael Westbrook, 36; and Anthony Simpson, 43, both of Baltimore, on charges arising from a scheme to allow individuals with poor credit histories and criminal records to obtain loans and real property using misappropriated social security numbers and fraudulently established credit histories.

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Patrick J. Belzner, a/k/a Patrick McCloskey, 45, Selbyville, Delaware, was sentenced by U.S. District Judge J. Frederick Motz to 15 years in prison followed, by three years of supervised release, on charges of wire fraud conspiracy, wire fraud and tax evasion for his role in a scheme to rip off investors by promising to secure large loans in exchange for substantial sums deposited in an escrow bank account.

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Todd A. Brunner, 57, and Shawn A. Brunner, 24, both of Pewaukee, Wisconsin, are the subjects of a sixteen count indictment charging them with bank fraud, making false declarations and oaths, and concealing assets, including real estate in bankruptcy.

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Dinesh Valjeebhai Shah, 65, was sentenced to seven years in state prison for conspiring with three other family members to commit over $16 million in real estate fraud by forging documents and purchasing homes using straw buyers.

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Bell Holdings, Inc., and Bimija Limited Partnership, are the subjects of Administrative Complaints issued by the Florida Office of Financial Regulation charging each company with unlicensed mortgage lending activity.

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Guillermo Rincon, 36, Miami, Florida, and Enrique Hernandez, 34, Tampa, Florida, have been indicted and charged with one count of mortgage fraud conspiracy involving mail and bank fraud, and other related substantive charges, for allegedly inflating purchase prices and sharing the proceeds amongst the conspirators.

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Six people, including a lawyer, real estate agent and funeral home director, have been charged with conspiring to steal a Philadelphia, Pennsylvania, home from an elderly widow after she passed away.

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Marie Mikesche Bontigao, 43, West Chester, Pennsylvania, was charged by indictment for her alleged role in a fraud scheme wherein she solicited individuals to invest in her real estate projects but, instead of investing the lenders’ money in real estate, the funds were used to operate her business and pay personal expenses

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Darrell Beatty, 49, Queens, New York, has been charged with illegally transferring the deed of an elderly woman’s home into his own name and then moving into the house.

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