The settlement bans Petriccione from the commercial loan business in Connecticut and obligates him to pay $165,150 in restitution to 13 consumers and $65,000 in penalties to the state.

Petriccione used phony endorsements from prominent individuals - including the Connecticut Attorney General -- to entice …

Read More...]]> 2010-03-19T09:36:21Z http://www.mortgagefraudblog.com/index.php/weblog/man_convicted_in_mortgage_fraud_scheme/ Mortgage Fraud Locations 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. Gonzalez, Special Agent in Charge, Internal Revenue Service Criminal Investigation; Keith L. Bennett, Special Agent in Charge, Federal Bureau …

Read More...]]> 2010-03-19T09:08:45Z http://www.mortgagefraudblog.com/index.php/weblog/man_pleads_guilty_in_fraud_scheme/ Mortgage Fraud Locations 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 individual to travel across state lines as part of a fraud scheme.

Poulikidis …

Read More...]]> 2010-03-18T09:11:26Z http://www.mortgagefraudblog.com/index.php/weblog/mortgage_fraud_leader_sentenced_to_nearly_17_years_in_prison/ Mortgage Fraud Locations 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 transactional money laundering. Bernadel led a two-year conspiracy involving …

Read More...]]> 2010-03-18T09:07:11Z http://www.mortgagefraudblog.com/index.php/weblog/forty_indicted_in_major_east_texas_mortgage_fraud_scheme/ Mortgage Fraud Locations 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 defendants, from Texas, Florida, Massachusetts, Tennessee, and Georgia, are charged as follows:

• 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 obtained against Ed Veronick Mortgage Loans, Inc., and its corporate officers and employees. The defendants were ordered not to …
  
  Read More...]]> 2010-03-17T09:57:32Z http://www.mortgagefraudblog.com/index.php/weblog/ag_gets_judgement_in_real_estate_scheme/ Mortgage Fraud Types, Investment Scams, Mortgage Fraudsters, Ringleader, Mortgage Fraud Locations, North Carolina 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 scheme to sell overpriced lots in the North Carolina mountains was thwarted by the North Carolina AG. The …
  
  Read More...]]> 2010-03-16T09:48:22Z http://www.mortgagefraudblog.com/index.php/weblog/the_fbi_new_york_shines_light_on_potential_rental_and_real_estate_scams_in_/ Mortgage Fraud Locations 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 an individual advertises a rental property and is contacted by someone claiming to be interested. A rental price is agreed-upon and the …
  
  Read More...]]> 2010-03-16T09:45:08Z http://www.mortgagefraudblog.com/index.php/weblog/fraudster_pleads_guilty_to_land_fraud_scheme/ Mortgage Fraud Types, Investment Scams, Mortgage Fraudsters, Ringleader, Mortgage Fraud Locations, Florida 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 case arose out of the sale of land …
  
  Read More...]]> 2010-03-16T09:22:13Z http://www.mortgagefraudblog.com/index.php/weblog/mortgage_fraud_charges_filed_against_investment_co_employees/ Mortgage Fraud Types, Investment Scams, Mortgage Fraudsters, Mortgage Loan, Mortgage Fraud Locations, Nevada 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, 2007, in Nevada and elsewhere, the defendants participated in a mortgage fraud conspiracy in which they …
  
  Read More...]]> 2010-03-16T09:13:01Z