Mortgage Fraud Blog - Displaying items by tag: Investment Scams

New Jersey Man Charged in Real Estate Investment Scam

David M. Connolly, Watchung, New Jersey, has been charged by The Securities and Exchange Commission with operating a Ponzi-like scheme involving a series of investment vehicles formed for the purported purpose of purchasing and managing rental apartment buildings in New Jersey and Pennsylvania.

Friday, May 18 2012 00:50

Investor and Attorney Arrested for $4.7M Real Estate Fraud

James Monahan, 42, New York, New York, the owner of a real estate investment company called Panam Management Group Inc., and Edward Adams, 69, New York, New York, an attorney, have been arrested on mail and wire fraud charges for allegedly operating a fraudulent real estate scheme.

Thursday, May 17 2012 06:07

Jury Convicts Attorney of Private Money Lender Scam

David C.H. Lin, 44, Sunnyvale, California, an attorney, was convicted by a federal jury of conspiracy to commit mail and wire fraud, and multiple counts of mail and wire fraud in connection with his role in a private money lender scheme.

Wednesday, May 09 2012 05:55

2 Real Estate Developers Sentenced for Investment Fraud

Allen Weiss, 60, Marlbor, New Jersey, and David Moulakis, 55, Toms River, New Jersey, two real estate developers, were sentenced for their roles in an investment fraud conspiracy that embezzled nearly $1 million in connection with purported commercial real estate developments.

Tuesday, May 08 2012 00:31

Homebuilder Admits Real Estate Investment Scam

Brian McCloskey, 44, Baltimore, Maryland, pleaded guilty to conspiring to commit wire fraud arising from an investment fraud scheme.

Tuesday, May 08 2012 00:30

Guilty Plea Entered in Distressed Home Rehab Scam

Francis X. Sanchez, 51, Woodstock, Illinois, pleaded guilty in federal court to conducting a $7 million mail fraud scheme for representing to potential investors that his business bought distressed houses, rehabilitated those houses, and sold the houses for a profit.

Wednesday, May 09 2012 00:39

Hard Money Broker Admits Real Estate Investment Fraud

Shawn Anthony Swor, 43, Missoula, Montana, pled guilty to investment fraud at during a federal court session in Missoula, on May 1, 2012, before U.S. District Judge Donald W. Molloy.

Wednesday, May 02 2012 00:02

Real Estate Development Scam Results in Prison Time

Elizabeth P. Johnson, 35, Bozeman, Montana, was sentenced to a prison term of 34 months for her role in a real estate development scam.

Thursday, April 26 2012 05:53

Hard Money Broker Pleads Guilty to Defrauding Investors

Keith B. Kovick, 61, Williston, North Dakota, pled guilty to mail fraud, wire fraud, and money laundering on April 25, 2012, before U.S. District Judge Donald W. Molloy.

Tuesday, April 24 2012 00:27

Real Estate Investor Indicted for Stealing from Clients

William Kevin Kelly, 58, Ocean City, New Jersey, has been indicted and charged with wire fraud and money laundering for allegedly victimizing clients and investors through promised real estate deals in the Lancaster, New Jersey, area.

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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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