Richard G. "Rick" Burton, 59, Nixa, Missouri, and Kathy Cyrena Allen, also known as Kathy Stanton, 66, Sarcoxie, Missouri, were charged in a 19-count indictment returned by a federal grand jury in Springfield on Tuesday, Nov. 17, 2009. 

The federal indictment alleges that Burton and Stanton, through their companies, conspired to defraud financial institutions of more than $2.6 million through a series of …

Read More...]]> 2009-11-20T09:59:28Z http://www.mortgagefraudblog.com/index.php/weblog/owner_pleads_guilty_to_laundering_proceeds_of_mortgage_fraud/ Mortgage Fraud Types, Property Flipping, Mortgage Fraudsters, Real Estate Agent, Mortgage Fraud Locations, New York Kevin M. O'Connell, 35, Albany, New York pled guilty to a one-count information charging him with the felony offense of laundering of monetary instruments in violation of Title 18, United States Code, Section 1956(a)(1)(A)(i), in connection with his role in an extensive mortgage fraud scheme that defrauded financial institutions and other mortgage lenders of over $5.3 million in loans.

O'Connell admitted his participation in a mortgage fraud scheme that occurred from at least July …

Read More...]]> 2009-11-20T09:46:43Z http://www.mortgagefraudblog.com/index.php/weblog/weld_county_builder_convicted_in_mortgage_scheme/ Mortgage Fraud Locations, Colorado Mark Strodtman, 52, Windsor, Coloarado, was found guilty of 23 criminal counts including, COCCA - Pattern of Racketeering (a class two felony; punishable by up to 48 years in prison if aggravating circumstances are met), Theft $15,000 or more 11 counts (a class three felony; punishable by up to 24 years in prison per count). Forgery - check / commercial instrument 11 counts (a class five felony; punishable by up to 6 years per count).

On March 25, …

Read More...]]> 2009-11-20T09:20:13Z http://www.mortgagefraudblog.com/index.php/weblog/columbia_man_guilty_in_mortgage_fraud_scheme/ Mortgage Fraud Types, Identity Fraud, Mortgage Fraudsters, Borrower, Mortgage Fraud Locations, South Carolina Randal Antoine, 36, Columbia, South Carolina, pled guilty to wire fraud and illegally using a Social Security number in connection with a mortgage fraud scheme.

As previously reported on Mortgage Fraud Blog, Antoine devised a scheme to defraud AmeriDream, Inc., a company that provided down payment assistance to first-time home buyers. The scheme involved Antoine posing as a mortgage loan originator, applying to …

Read More...]]> 2009-11-20T09:05:52Z http://www.mortgagefraudblog.com/index.php/weblog/seven_charged_in_53_count_million_dollar_mortgage_fraud_scheme/ Mortgage Fraud Types, Appraisal Fraud, Escrow Theft, Straw Buyer, Mortgage Fraudsters, Mortgage Loan, Real Estate Agent, Mortgage Fraud Locations, California Amy Schloemann, aka Amy Kinney; Karim Akil, aka Scott Kinney, aka Scott Kenney; Wonda Louise Kidd; Michelle McGuire; Kaska Clay, aka Mark Lane, aka Michael Lewis; James Ross; and Darnell Thomas were indicted on charges of conspiracy to commit wire fraud, wire fraud, and money laundering for their roles in …

Read More...]]> 2009-11-19T09:59:24Z http://www.mortgagefraudblog.com/index.php/weblog/real_estate_appraiser_charged_with_making_false_statements_on_loan_applicat/ Mortgage Fraud Types, Appraisal Fraud, Mortgage Fraudsters, Appraiser, Borrower, Mortgage Fraud Locations, Connecticut Thomas Preston, 49, Norwalk, Connecticut, was indicted one count of making a false statement on a mortgage loan application.

According to the indictment, Preston owned and managed a real estate appraisal company known as Redding Appraisers, and provided appraisals of real and commercial real estate in Connecticut to real estate agents. On approximately October 23, 2006, Preston did knowingly and willfully make a false statement …

Read More...]]> 2009-11-19T09:54:38Z http://www.mortgagefraudblog.com/index.php/weblog/mtsu_professor_sentenced_for_mortgage_fraud_scheme/ Mortgage Fraud Types, Straw Buyer, Mortgage Fraud Locations, Tennessee Pamela Gail Holder has been sentenced to 12 months and one day in prison for her role in a mortgage fraud scheme. Following a one-week jury trial in April 2009, Dr. Holder was found guilty of both bank and wire fraud charges.

As previously reported on Mortgage Fraud Blog, Dr. Holder, a professor of nursing at Middle Tennessee State University and the former coordinator of the statewide Tennessee Board of Regents …

Read More...]]> 2009-11-19T09:41:58Z http://www.mortgagefraudblog.com/index.php/weblog/second_missouri_man_sentenced_in_major_mortgage_fraud_scheme/ Mortgage Fraudsters, Mortgage Loan, Mortgage Fraud Locations, Missouri Robert P. Wrolstad, O'Fallon, Missouri, was sentenced on a mortgage fraud scheme involving the sale of residential real estate located in Sikeston, MO. After sentencing, the district court remanded Wrolstad to the custody of the United States Marshals to commence his sentence.

Wrolstad was sentenced to 108 months on a 34-count indictment for his involvement in the scheme.

As previously …

Read More...]]> 2009-11-18T09:46:26Z http://www.mortgagefraudblog.com/index.php/weblog/deed_forger_sentenced_in_real_estate_fraud_case/ Mortgage Fraud Types, Identity Fraud, Mortgage Fraudsters, Borrower, Mortgage Fraud Locations, California Oralia Hidalgo, 46, Colton, California, was sentenced to prison for real estate fraud related crimes. Hidalgo was ordered to serve five (5) years in the California state prison system. The defendant was found guilty on nine (9) felony counts ranging from forgery, grand theft, filing of false instruments, and a grand theft enhancement, which were filed by the San Bernardino County District Attorney's Real Estate Fraud Unit.

As previously reported on …

Read More...]]> 2009-11-18T09:20:44Z http://www.mortgagefraudblog.com/index.php/weblog/man_arrested_for_real_estate_ponzi_scheme/ Mortgage Fraud Locations William Arthur Sassman II, 41, Sacramento, California, who "looted" the life savings of dozens of investors to bankroll his lavish lifestyle and prop up a multi-million dollar real estate and business Ponzi scheme, has been arrested.

Sassman was arrested at his residence on a total of 100 counts: 43 counts of grand theft, 40 counts of misrepresentation or omission in the sale of a security, 16 counts of first-degree burglary and 1 count of …

Read More...]]> 2009-11-17T15:52:30Z