Archives For False Documents/HUD

Six individuals were indicted for participating in a mortgage fraud conspiracy involving alleged misrepresentations to the banks including fictitious verifications of false and fraudulent employment and bank deposit information set forth on loan applications.  Continue Reading…

Carole Tilghman, 50, Baltimore, Maryland, a title insurance agent who took tens of thousands of dollars from her clients’ escrow accounts to pay her personal bills pleaded guilty in the Circuit Court for Baltimore County to one count each of felony theft and felony theft scheme.

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Teresa Jean Whitten, 41, Claycomo, Missouri, who operated a real estate business, was sentenced in for her role in a $5 million mortgage fraud scheme wherein she claimed to have a program through which people could purchase houses without putting money down and could qualify and obtain mortgage loans for which they would not otherwise qualify.

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Barry J. Graham, 59, and Ricky Lynn Stokes, 54, both of Ft. Myers, Florida, were sentenced to 60 months imprisonment, followed by three years of supervised release, for promising to develop dilapidated properties into luxury resorts as well as an upfront leaseback payment at the time of closing, but failed to disclose the leaseback payment and other financial inducements to the borrowers, on paperwork submitted to lenders.

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Xue Heu, 38, Modesto, California, pleaded guilty to two counts of wire fraud in connection with a fraudulent real estate investment scheme wherein he gave investors fraudulent documents, such as grant deeds, HUD-1 settlement statements, and portfolio listings of properties he claimed he intended to purchase, including properties that had already been sold and were no longer available to purchase.

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Joseph Pasquale, 38, Worcester, MA, has been charged with with one count of mortgage fraud conspiracy involving bank fraud and two counts of bank fraud. He faces a maximum penalty of 30 years’ imprisonment for each count.

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Five defendants have been sentenced for their roles in a mortgage fraud conspiracy perpetrated in the Eastern District of Texas involving illegal property flipping, falsification of documents, including HUD-1 Settlement Statements, down payment fraud, and loan application misrepresentations.

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Five defendants have been sentenced for their roles in a mortgage fraud conspiracy involving down payment fraud in the Eastern District of Texas.

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Jason Springer, an attorney, and Rick Makohoniuk, a real estate agent, were both convicted of bank fraud after an eight-day jury trial. Springer was convicted of seven counts of bank fraud, and Makohoniuk was convicted of one count of bank fraud, in connection with a short sale/property flipping scheme.

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Ronald Hutchison Jr., 52, Hopewell Junction, New York, a former corrections officer, was sentenced to 28 months in prison for his role in a down payment mortgage fraud scheme arising from the purchases of more than 50 properties in New Haven, Connecticut.

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