Archives For Escrow Fraud

Steve Kessedjian, 51, Los Angeles, California, was sentenced by U.S. District Judge Lawrence J. O’Neill to 21 months in prison for stealing refinance funds intended to pay off debts, which forced the borrowers into bankruptcy…

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Stephen Richard Colson, 48, Biloxi, Mississippi, pled guilty in federal court on March 19, 2014, to falsifying, concealing, and covering up material facts in connection with a scheme to defraud two banks and the Bankruptcy Court in violation of Title 18 Section 1001.

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Anthony E. Aguilar, and Brenda K. Wyatt, both of Norman, Oklahoma, were indicted on charges of conspiracy to commit bank fraud and making a false statement to a financial institution.

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Louis Macaluso, 47, Westfield, New Jersey, a title company owner, has pleaded guilty to criminal charges for stealing a total of $5.3 million entrusted to him as a settlement agent to pay off multiple mortgage loans in connection with real estate closings he handled.

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Nathan Levner, 54, Oceanside, New York, has been charged with stealing $10,000 from a couple he was representing in the purchase of a new home.

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Yvonne DeBenedetto, 46, Bay Shore, New York, an attorney, has been sentenced to two to six years in prison after she pleaded guilty to stealing more than $573,000 from clients who hired her to represent them in real estate deals.

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Michael Krause has been indicted on charges of wire fraud and conspiracy for his alleged role in misappropriating and failing to pay off a prior mortgage with the funds from a new loan.

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Steve Kessedjian, 50, Los Angeles, California, pleaded guilty to mail fraud in connection with his scheme to defraud client escrow funds.

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Kathleen Niew, 57, Burr Ridge, Illinois, an attorney who operated Niew Legal Partners LLC and whose law license was suspended in May 2013, was arrested on federal fraud charges for allegedly misappropriating approximately $2.34 million from a husband and wife who were her clients.

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David Burrus, Jr., 40, Burns, Tennessee, was sentenced to 66 months in prison, followed by a five-year term of supervised release, for conspiring to commit wire and mail fraud. Burrus was also ordered to pay restitution of $241,779.26.

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