Bishop Krabsz, (aka Stephen Bishop), 59, Cherry Hill, New Jersey and James Sanford, 68, Berlin, New Jersey were indicted along with their accountant, Enrico Nardini, 67, Boothwyn, Pennsylvania for charges including conspiracy, wire fraud, false tax returns and false statements to a financial institution.
In September, 2002, Krabsz allegedly defrauded Superior Home Mortgage Corporation by submitting falsified tax returns prepared by Nardini to support a $50,000 loan. In June, 2004, James Sanford submitted falsified tax returns prepared by Nardini to support an $81,600 loan. Nardini also allegedly provided falsified tax returns for an unnamed borrower to Option One Mortgage Corporation to support a loan of $650,000.
Also indicted were Krabsz business partner, Kevin Rankin, 60, Philadelphia, Pennsylvania, William Lavan, Sr., 73 Ventnor, New Jersey and William Lavan, Jr., 28, Egg Harbor, New Jersey. All allegedly filed false tax returns prepared by Nardini. Rankin and Krabsz own an adult entertainment club known as Dangerous Curves and the Ashburner Inn restaurant, both in Philadelphia, Pennsylvania.
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.