Man Charged With Stealing $1M from Closings

Allison Tussey —  July 29, 2009 — 13 Comments

Stephen LaLonde, 42, Fort Lauderdale, Florida, was charged in a two-count Information for his role in a mortgage fraud closing scheme that resulted in the theft of more than $1 million in loan proceeds.

According to the July 19, 2009, criminal information, LaLonde stole more than $1 million at real estate closings as part of a scheme to defraud legitimate borrowers, lenders, and a title insurance company in connection with six real estate closings, held at Spectrum Title Inc., Oakland Park, Florida. The legitimate borrowers in these transactions sought to re-finance and payoff existing mortgages. Unbeknownst to the borrowers, however, LaLonde, kept the loan proceeds for himself and did not use the funds to pay off the borrowers’ pre-exiting loans.

The defendant was charged with mail fraud and making false statements.

Jeffrey H. Sloman, Acting United States Attorney for the Southern District of Florida, announced the indictment. Mr. Sloman commended the investigative efforts of the Federal-State Mortgage Fraud Strike Force, with special commendation U.S. Postal Inspection Service, the Florida Department of Law Enforcement, and the State of Florida Office of Financial Regulation. The case is being prosecuted by Assistant U.S. Attorneys Jeffrey Kay and Laurie Rucoba.

Be Sociable, Share!

Allison Tussey

Posts Google+

13 responses to Man Charged With Stealing $1M from Closings

  1. Anyone know what prison Steve is in ?

  2. Anyone know what prison he is in ?

  3. Well…..CapSouth just got the best of me! I did not have the mney to fight them in court, so my home was foreclosed upon. Is there a Class Action Lawsuit out there that i can join?

  4. On Friday Morning, December 18, 2009, Stephen (Steve) Lalonde has been sentenced to five years Federal Prison and almost 1.9 millon dollars restitution for defrauding lenders of 1.3 million. Mr. Lalonde was never remorsefull and went right back, after his guilty plead from July, 09 and continnued his scams. Putting all blame on investors, victims and circumstances. More cases pending!

  5. Here the final chapter of “Steve Lalonde” and “Amy Lalonde”. Not good enough for the “finance predators” to get caught stealing one million from lenders, they had to finish this way:

    The FTC has found them too:

  6. Doesn’t anyone think it to be strange that “Robert”, “Dave Adams”, and Steve Lalonde all spell the word LYING incorrectly?? If you check out closed first software, capsouth, and 1st guaranty on rip off report you will see that in his attempt to blame innocent people for his wrong doings he cannot spell the word LYING!! Compare his spelling (lieing) in all of his comments just like on this blog. To all the innocent people out there who he stole from, slandered, and hurt, take comfort in the fact that he will rot away in a cell!! He will have plenty of time to learn first grade spelling words!!

  7. A great talent by the name of “J. Edgar Hoover” helped to found a US Government Agency in 1924. Since, then it had its challenges, especially after “September 11”, as it had to reassign detail and resources to the imminent threats of terrorism from abroad. However, that agency known as the FBI, is back in full force in the homeland and is now attacking the internal home based terrorists as well, also those within the American Financial System, whom have besieged the ingenious “American Enterprise of Capitalism” and almost brought the world markets to its knees. Mortgage Fraud is one of the main reasons for the collapse of the US and “International Bank- and Finance System”. Thanks God for the help!


  9. Mr. Steve — and Mrs. Amy Lalonde why do you not pay your civil judgement of $325,000 to us? Why do put all your investors at risk for over one million and try to screw them with a fraudulent Chapter 11? Why do you not return all stolen deposits from credit seeking customers? Why do you not return the cash you stole from lenders that you are now indicted for? Why do you not return the 2 million dollars of “Cap South 7, LLC” trust money you stole, while your at it. I seek the openess, I seek Government investigations and I seek Justice for all victims including us from you the predator of the Mortgage Industry.

  10. In response to the allegations about me. First, I published with a real name. Second, I have not been sued or indicted by anyonein any of these ridicilous claims but I gues my article hit the nerve well. Third, we know how has an interst to distract from the real issues that were posted on the blog. The “Federal Indicment”, all other rip-off reports, the judgments against Lalonde and his wife speak for itself. The allegations against me are hearsay from the those people that are about to be punished for their crimes and theft. The defective Chapter 11 and any frivolous law suits will not change that. So reader–who do you think is this Robert?? As said they are predators and they will be punished.

  11. Oh Yes and the same Ronald Schmid that said he took companies public and stole money from multiple people calling it “legal fees”. but yet lives with his girlfriend drives his girlfriends car and steals from people telling them he has millions in geneva that Ronald Schmid.The same Ronald Schmid that tried to steal the company of Lalonde by lieing on loan documents when you had no money to actually lend and had other people involved in your scam. Your rock will be turned along with others.

  12. Is this the same Ron Schmid that stole 50,000 from people promising them that he would lend them 20 million dollars that Ronald Schmid the fraud and liar that I believe is about to commit fraud on the courts. I know these people well and you sir are a thief and liar your stealing of $50000 plus from other people is about to be found out you will see Mr. Ronald Schmid

  13. Mr. Steve (also Stephen) and wife Amy Lalonde have stolen much more than 1 million. They stole from realtors, employees, appraisers, friends, investors, “Cap South 7” trust accounts, distressed people looking for credit repair, foreclosure cases,credit cards, their own trust accounts etc. and commingle accross at least 9 LLC’s all the same people (similar to a Ponzi scheme). This people are real predators in that industry. The lack of regulation in that industry has almost wided out the world’s financial market.

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>