Chicago, IL: Jeffrey Grossman and Donald Grauer (dba The Churchill Group). Pleaded guilty. Real estate development scheme where defendants allegedly submitted fraudulent vouchers to banks to construct two condominium complexes. Lender losses: $15 million.
Denver, CO: Gerald Small, Kelli Burkhalter-Small, Charles Winnett, Chad Heinrich and Robert Sigg (dba Amerifunding). Arraigned on charges of bank fraud from allegations that they used stolen identities to obtain loans to buy substandard houses used to continue the scheme. Lender losses: $19 million.
Kansas City, Mo: Chauncey Joseph Calvert, Aronda Lynn Nicodemus and Roderick Neil Criss (dba Midtowne Restoration) - Arraigned. Brent Barber - Arrested. Allegations that used straw buyers to purchase properties on approximately 300 occasions. Lender losses: $15 million.
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.