Archives For Arizona

Julio Cesar Esquivel Reyes, 41, Tolleson, Arizona was sentenced to five years in prison and ordered to pay more than $568,000 in restitution  for orchestrating a mortgage fraud conspiracy that spanned 11 years and resulted in nearly $2 million in losses for mortgage lenders.  According to prosecutors, Reyes recruited family and church members, including two pastors, to commit mortgage fraud, eventually obtaining more than $3 million in loans. Reyes previously pleaded guilty to conspiracy to commit wire fraud. According to U.S. Attorney John S. Leonardo:

“Mortgage fraud is a serious offense that has detrimental effects on the economy as a whole.  The facts of this case are especially egregious because the defendants used their affiliation with a church to further the crime.  This sentence and that of Pastor Tovar send a solid message that those engaging in such actions will be prosecuted and incarcerated.”

Matt Allen, special agent in charge for HSI Arizona, said: Continue Reading…

Paxton Jeffrey Anderson, 44, Montevideo, Minnesota, and Joseph John Plany, 42, Hutto, Texas, were sentenced by U.S. District Court Judge Susan R. Bolton to eight years and four years in prison, respectively, and ordered to pay $3,270,425 in restitution. The defendants ran a scam wherein, unbeknownst to the borrowers, they forged and altered draw requests, and other documents, to withdraw money from the construction loans then used that money to buy racehorses and trips to the Kentucky Derby, among other things.  Continue Reading…

Paxton Jeffrey Anderson, 40, and Joseph John Plany, 39, have been convicted after a 12-day trial of 25 counts and 22 counts, respectively, of bank fraud and one count each of conspiracy to commit bank fraud for their participation in a mortgage fraud scheme.

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Dawn Anderson, Maricopa, Arizona, a real estate broker and owner of Maricopa Properties, LLC, a property management company, was indicted and charged with theft, forgery, and fraud schemes and practices.

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Maria Elena Alvarez, Maricopa County, Arizona, is the subject of a consent judgment that prohibits her from providing mortgage or other consumer loan modification services to Arizona consumers.

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Mariano Vincente Cano, Tuscon, Arizona, was sentenced by U.S. District Judge David C. Bury to 14 months in prison and ordered to pay over $350,000 in restitution for his role in a straw buyer mortgage fraud scheme.

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Michael Stewart, 66, Phoenix, Arizona, and John Packard, 63, Long Beach, California, the owners of a now-defunct Southern California real estate investment firm were arrested for allegedly perpetrating a Ponzi scheme that ended with the bankruptcy of their company and caused private investors and banks collectively to lose well over $110 million when the scheme collapsed.

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Joseph N. Gagliano, 45, Phoenix, Arizona, was sentenced to 30 months in prison and ordered to pay $2,903,010.26 in restitution by U.S. District Court Judge G. Murray Snow.

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Dino Sisneros, Tuscon, Arizona, has been sentenced to 5 years in prison for his role in a mortgage fraud conspiracy to obtain loans totaling almost $13.5 million between 2003 and 2007.

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Walter Scott Fruit, 54, and Sandra Jackson, 48, both of Tucson, Arizona, were sentenced to federal prison by U.S. District Court Judge Cindy K. Jorgenson for their role in a mortgage fraud scheme. Fruit was sentenced to 30 months in prison; Jackson was sentenced to six months in prison.

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