Displaying items by tag: New York
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Monday, May 21 2012 00:06

Owner Found Guilty in Mortgage Modification Scheme

Isaak Khafizov, 25, Queens, New York New York, a former owner of American Home Recovery (“AHR”), a mortgage loan modification business, was found guilty in Manhattan federal court of conspiracy, mail fraud, and wire fraud, in connection with a scheme to defraud distressed homeowners and lenders.
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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.
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Friday, May 11 2012 05:32

Settlement Entered in Civil Lawsuit Concerning HUD Violations

Deutsche Bank AG, DB Structured Products, Inc., Deutsche Bank Securities, Inc. (collectively "Deutsche Bank") and MortgageIt, Inc. have entered into an agreement settling a lawsuit filed by the United States, which alleged HUD misreprsentations.
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Thursday, May 03 2012 00:48

2 Swindle Elderly Woman Out of Multi-Million Dollar Property

Ifeanyichukwu Eric Abakporo and Latanya Pierce have been arrested and charged for allegedly swindling an elderly woman out of her multi-million-dollar property in Harlem, New York, that she had owned for more than 40 years, and then deceiving a bank into giving them a $1.8 million mortgage loan secured by the property.
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Friday, April 27 2012 07:32

Developers Admit Submitting Phony Invoices to Lender

J. Christopher Daly and Michael Abreu, two executives at the Sheldrake Organization, a real estate development and management company, pled guilty in Manhattan federal court for their roles in a scheme to fraudulently obtain $2.2 million from a foreign-owned bank.
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Thursday, April 26 2012 05:43

Man Admits Submitting False Loan Docs to Lenders

James P. Vasiliou, Jr., 46, Getzville, New York, pleaded guilty to bank fraud for his role in a mortgage scam. The charge carries a maximum penalty of 30 years in prison, a fine of $1,000,000, or both.
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Friday, April 20 2012 06:25

Lawyer, Loan Office and Loan Processor Admit $9M Fraud

Eric Finger, 47, Mineola, New York, Reginald Johnson, 38, St. Albans, New York, and Denise Parks, 46, Olive Branch, Mississippi, each pled guilty for their roles in a $9 million mortgage fraud scheme.  
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Thursday, April 12 2012 00:07

Loan Officers Admit Using Straw Buyers to Defraud Lenders

Frederick Warren, Dorian Brown, and Fritz Bonaventure, three mortgage loan officers, each pled guilty for their roles in a $9 million mortgage fraud scheme invovling the use of straw buyers.
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Tuesday, April 10 2012 05:34

Brokerage Owner Admits $66M Mortgage Fraud Scam

Gerard Canino, 51, Merrick, New York, the president and owner of Long Island-based mortgage brokerage firm First Class Equities, pled guilty to conspiring to commit wire fraud and bank fraud in connection with a $66 million mortgage fraud scheme.
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Wednesday, March 28 2012 10:53

Appraiser Settles Mortgage Fraud Claims

William Buckley and his firm, Premier Appraisal Services, Inc. have settled with the United States mortgage fraud claims.
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Rachel Dollar 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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