Anthony Cruz Quitugua, 38, Phoenix, Arizona, was arrested on May 23, 2012, to face charges of mortgage fraud. In May of 2011, a federal grand jury in Phoenix returned a 15-count indictment against Quitugua, which alleges that he defrauded mortgage lenders out of more than $3.5 million dollars.Continue Reading...
Archives For Appraisal Fraud
Ann Hils, 55, East Hampton, Connecticut, was sentenced by U.S. District Judge Alvin W. Thompson to 63 months of imprisonment, followed by five years of supervised release, for operating a real estate appraisal scheme.
Grady Wayne Fricks, 65, Nashville, Tennessee, pleaded guilty to conspiracy charges arising out of a scheme to defraud Cornerstone Community Bank, Dalton, Georgia, using false appraisals, settlement statements and misrepresentations to qualify for more than a million dollars in loans.
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.
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.
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.
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.
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.