Archives For Appraisal Fraud

Steven Essig, Syracuse, New York, a licensed appraiser and the owner of an appraisal company in Syracuse, pleaded guilty to a felony charge stemming from making false entries in an appraisal report. The falsified report was used to obtain a mortgage as part of a million dollar mortgage fraud scheme.

Continue Reading…

Justin Joseph Christenson, 35, Forest Lake, Minnesota, admitted conspiring with Thomas Rosensteel, Robert Scott “Rod” Aslesen, and at least four others to defraud mortgage lenders by falsifying loan applications and related documents. Continue Reading…

Four defendants were sentenced on February 4, 2015, by U.S. District Judge Richard L. Voorhees for their involvement in a consumer and mortgage fraud conspiracy which resulted in multi-million dollar losses for consumers and federal agencies. Continue Reading…

Terri Lynn Johnson, 50, Columbia, Missouri, former branch manager of Landchoice Company, LLC, has been sentenced in federal court for a $576,000 mortgage fraud and embezzlement scheme.

Continue Reading…

Richard Stromberg, 50, Bethel Park, Pennsylvania, has been sentenced in federal court to 60 months of imprisonment, to be followed by five years of supervised release, for submitting false loan applications to lenders that included inflated income/assets and appraisals.

Continue Reading…

Emiel A. Kandi, 37, University Place, Washington, a former hard money lender, was sentenced in U.S. District Court to five years in prison, three years of supervised release and $831,607 in restitution for structuring some hard money loans to allow him to seize control of a home if the borrower missed a single payment, in others he submitted false information to lenders regarding the borrowers’ employment, salary, and intention to live in the home.

Continue Reading…

Ann Hils, 54, East Hampton, Connecticut, pleaded guilty before U.S. District Judge Alvin W. Thompson in Hartford to one count of conspiracy to commit mail and bank fraud related to a real estate appraisal scheme.

Continue Reading…

A six-count indictment was unsealed in federal court charging six people with bank and wire fraud concerning their alleged participation in a scheme to defraud lenders using fraudulent loan applications, falsified HUD-1 Settlement Statements and inflated appraisals.

Continue Reading…

James Lignelli, 59, Presto, Pennsylvania, was found guilty by a federal jury of three counts of bank fraud, United States Attorney David J. Hickton announced today.

Continue Reading…

Richard Dean Woolsey, 42, Grosse Ile Township, Michigan, was sentenced after being convicted at trial of conspiracy to commit wire fraud and wire fraud for his role in a mortgage fraud scheme.  Woolsey and his conspirators disguised the source of down payments and provided false and inflated appraisals for properties, among other things.

Continue Reading…