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Mortgage and Fraud and the Law, Oh My!
Friday, May 11 2012 00:58
Investor, Finance President and Appraiser Charged for Fraud
A Chicago area real estate investor, the president of a Colorado real estate financing company, and a licensed appraiser were indicted for allegedly participating in a scheme to fraudulently attempt to obtain mortgage loans totaling more than $750,000 by selling three residential properties in Chicago to nominee buyers.
Monday, May 07 2012 06:38
7 Indicted, Including Police Officer, for Straw Buyer Scheme
Seven defendants, including a man who co-owned a Chicago, Illinois, condominium building, a police officer and two loan officers, were indicted for allegedly participating in a scheme to fraudulently obtain approximately 35 mortgage loans totaling more than $8.8 million from various lenders.
Tuesday, May 08 2012 00:30
Guilty Plea Entered in Distressed Home Rehab Scam
Francis X. Sanchez, 51, Woodstock, Illinois, pleaded guilty in federal court to conducting a $7 million mail fraud scheme for representing to potential investors that his business bought distressed houses, rehabilitated those houses, and sold the houses for a profit.
Saturday, April 28 2012 00:25
Real Estate Developer Sentenced for Lying to Obtain Financing
Harold Rosen, 81, Clayton, Illinois, a real estate developer, was sentenced in US District Court to four years in federal prison on April 20, 2012, for his role in attempting to obtain more than $1.9 million dollars of public financing for a development project under false pretenses.
Wednesday, February 08 2012 00:27
Loan Modification Companies Sued for Defrauding Homeowners
Debt Care Financial Group Inc., its president Malgorzata Baran, Starlex Financial Consulting LLC and Flagship Mortgage Corporation, its employees Jeffrey M. Entratter and Neil Borland, as well as E.A.C. Financial LLC, and its owners Everett D. Pope and Colbi Andry, are the subjects of civil lawsuits for fraudulent mortgage rescue and debt settlement schemes that cheated consumers out of large thousands of dollars.
Tuesday, February 14 2012 00:05
3 Mortgage Rescue Firms Sued for Fraudulent Practices
Acceptance Financial and its president Anatoly Nirshberg, Elite Outsourcing Services and owner and operator Kenneth Thompson, and International Embassy Realty and its president Sandro Rodriguez, are the subject of civil lawsuit for alleged mortgage rescue schemes that conned distraught homeowners by charging thousands of dollars in upfront fees with false promises of helping them avoid foreclosure.
Thursday, February 09 2012 00:01
2 Con Artists Arrested for Mortgage Fraud
Warren Jackson, 41, Chicago, Illinois, who allegedly stole more than $350,000 in a wide-reaching mortgage fraud scheme in which they promised to help desperate homeowners avoid foreclosure has been arrested and is being held in Cook County, Illinois, jail. Yolanda King, 46, Chicago, who was also charged in the scheme, was arrested on January 10, 2012.
Thursday, February 09 2012 00:19
Ratings on Mortgage-Backed Securities Leads to Lawsuit
Standard & Poor is the subject of a civil lawsuit for its fraudulent role in assigning its highest ratings to risky mortgage-backed investments in the years leading up to the housing market crash.
Monday, January 23 2012 07:07
Lawyer Gets 15 Years for Mortgage Bailout Scheme
Norton Helton, 50, a former Illinois lawyer, was sentenced to 15 years in federal prison for engaging in mortgage and bankruptcy fraud schemes involving a so-called "mortgage bailout" program that purported to "rescue" financially-distressed homeowners but instead tricked victims into relinquishing title to their homes and declaring bankruptcy.
Thursday, December 22 2011 08:04
Woman Sentenced for Mortgage, Tax and Food Stamp Fraud
Chamethele McKinney, 36, Metro-east, Missouri, was sentenced to 37 months imprisonment for participating in a conspiracy to defraud the United States and evade the payment of federal income taxes, for making false statements on a mortgage loan application, and for making false statements to obtain Food Stamp Program benefits.
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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.
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