Mortgage Fraud Blog - Displaying items by tag: Equity Skimming

Beware of Get Rich Quick in Real Estate Seminars

Consumers are warned to be cautious in dealing with several enterprises offering seminars on how to "get rich quick" in real estate, which may include illegal practices such as equity skimming, preparation of false documents and pass-through escrows.

Thursday, December 22 2011 07:06

Mortgage Fraudster Sentenced to 5+ Years in Prison

Chad Evans, 37, Brookville, Indiana, was sentenced by U.S. District Judge James Moody to 70 months in federal prison for conspiracy to commit wire fraud, bank and mail fraud, and money laundering for his role in a straw buyer scheme.

Thursday, June 23 2011 01:59

1 Indicted, Another Admits Guilt in Mortgage Fraud Scheme

Alonzo Jackson Brown III, 44, Fairfield, California has been indicted on nine counts in connection with an investment fraud scheme and a mortgage fraud scheme. According to court documents, Brown is a licensed real estate broker who used that position to perpetrate a mortgage fraud scheme. Brown is accused of

Friday, May 27 2011 01:59

Man Sentenced for Flipping Scheme

Sang Min Kim, a/k/a Sonny Kim, 37, Tampa, Florida, was sentenced by U.S. District Judge Susan C. Bucklew to 41 months in federal prison for conspiracy to commit wire, mail, and bank fraud and money laundering in connection with a mortgage fraud scheme. As part of his sentence, the court entered a money judgment in the amount of $5,826,778.65, the proceeds of the charged criminal

Tuesday, May 24 2011 06:08

Nevada Man Arrested for Home Equity Theft

Shafik Hirji was arrested on charges of theft in excess of $2,500 - a class B felony, and three counts of Uttering Forged Instruments - class D felonies. The arrest was made in connection with Hirji's alleged theft of home equity in connection with a mortgage loan. The Office of the Nevada Attorney General announced the arrest. "This incident is yet one more

Wednesday, May 18 2011 01:53

Guilty Plea Entered in Equity Stripping Scheme

Walter Bressler, 42, Frisco, Texas, formerly of Nashua, New Hampshire, pleaded guilty in U.S. District Court to operating a mortgage fraud and equity stripping scheme involving numerous New Hampshire properties. At a hearing before Senior U.S. District Judge Joseph DiClerico, Bressler admitted to violating the federal mail fraud

Monday, April 18 2011 02:00

3 Indicted for Mortgage Fraud Enterprise

Takara Madkins, 34, North Ridgeville, Ohio, and her company, D. & T. Investments, Inc. have been indicted for mortgage fraud crimes. Others indicted were Jerrall Collier, 37, Walton Hills, Ohio, and Darrick Ceasor, 39, Shaker Heights,

Monday, March 28 2011 08:03

Charges Filed for Equity Stripping Scheme

Sadie Stanhope Ng, Quincy, Massachusetts, an alleged straw buyer, and Richard Winefield, Nasua, New Hampshire, a real estate agent, have been charged for their roles in an equity stripping scheme aimed at distressed homeowners in New Hampshire. Winefield was

Thursday, February 17 2011 01:55

Real Estate Con Man Sentenced to 22 Years

Juan Rangel, 47, Downey, California, was sentenced to 22 years in federal prison for running two fraud schemes - a Ponzi scheme that took in at least $30 million from more than 500 victims, and a mortgage fraud scheme that preyed on working-class homeowners by stealing the equity from their homes and secretly taking title to their properties. As previously

Tuesday, January 12 2010 01:08

Mortgage Attorney Pleads Guilty in Fraud Scheme

Robert Danenberg, 45, Pittsburgh, Pennsylvania, pleaded guilty to a charge of Wire Fraud Conspiracy in connection with a mortgage fraud scheme. In connection with the guilty plea, the court was advised that Danenberg, an attorney who specialized in closing real estate transactions,

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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.
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