Mortgage Fraud Blog - Displaying items by tag: Flipping

Fraudster Receives 8 Year Sentence for Appraisal Fraud

Anthony Jerdine, 41, Pepper Pike, Ohio, was sentenced to 105 months in prison after previously being found guilty of bank fraud.

Tuesday, May 01 2012 11:29

Property Flipping Nets Broker 2 Years in Prison

Andrew Hill, 34, Dublin, Ohio, was sentenced in U.S. District Court to 24 months in prison for obtaining more than $1.2 million in fraudulent mortgage loans involving investment properties in Portsmouth, Ohio then "flipping" the properties and selling them to unqualified buyers.

Tuesday, May 01 2012 07:54

Real Estate Agent and Developer Convicted of Fraud

Nadin Samnang, 29, Ashburn, Virginia, has been convicted by a federal jury for his role in fraudulent mortgage loan transactions involving at least 25 homes in Northern Virginia and more than $7 million in losses to lenders.

Wednesday, April 25 2012 06:16

6 Face Federal Charges for Illegal Flipping Scheme

Six people—including women from Orange County and Tennessee—have been charged by Federal Prosecutors in relation to a multi-million-dollar real estate flipping scheme in which investors were promised titles to homes that could be easily resold but in fact did not have "clean" titles, were uninhabitable, or were simply worthless.

Thursday, March 08 2012 00:26

Real Estate Investor Gets 8 Years for Flipping Scheme

Robert W. Dufresne, Jr., 47 Cottage Grove, Minnesota, was sentenced for defrauding investors out of more than $5 million in a multi-state, house-flipping scheme.

Monday, February 27 2012 08:59

Real Estate Agents Charged With Flipping Scheme

Leonard Williams, 49, Sacramento, California, and Joshua Clymer, 25, Sacramento, California, are the subjects of a federal grand jury superseding indictment which alleges three counts of conspiring to commit mail fraud, wire fraud and money laundering.

Tuesday, January 17 2012 08:01

Real Estate Investor Sentenced for Tax & Mortgage Fraud

Deangelo Wade, 41, Detroit, Michigan, was sentenced to 40 months imprisonment and ordered to pay restitution to the IRS and the FDIC for his role in a scheme to defraud IndyMac Bank in connection with the purchase of 4 properties.

Friday, January 06 2012 12:18

Grand Jury Indicts 4 for Straw Buyer Flipping Scheme

Yevgeniy Charikov, 40, West Sacramento, California; Vitaliy Tuzman, 40, Citrus Heights, California; Nadia Talybov, 30, Antelope, California; and Juliet Romanishin, 30, West Sacramento, have been indicted and charged with mail fraud in connection with a mortgage fraud scheme that resulted in losses of at least $710,000 to lenders.

Monday, January 02 2012 08:22

2 Indicted for Illegally Flipping 235 Houses

Blaine Murphy (aka Bryce Peters, III and Martin J. Franks) and Bryce Peters Financial Corporation, Inc. have been indicted for illegally flipping homes in Ohio.

Tuesday, November 29 2011 00:46

CEO of Home Start America Sentenced to 50 Months

Michael Kaufman, 43, Reading, Pennsylvania, the CEO and founder of purported real estate investment firm Home Start America, Inc. ("HSA") who directed a long-running, large scale wire fraud conspiracy with loan officer David Wynn through Kaufman's company, was sentenced to 50 months in prison.

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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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