Archives For Falsified HUD1

Rebecca Gheiler, 49, Miami, Florida, was indicted and charged with conspiracy to commit bank and wire fraud and six counts of bank fraud.

According to the indictment, Tribute Residential, LLC (“Tribute”), which was controlled by Gheiler, owned and sold condominium communities.  To entice buyers to purchase condominium units in these communities, Gheiler developed a program of incentives.  As part of this program, buyers were promised that Tribute would pay the mortgage and homeowners’ association dues during the buyer’s first two years of occupancy.  Other incentives developed and paid for by Gheiler included upfront cash to close and/or kickbacks to buyers after closing.  During each transaction, the HUD-1 Settlement Statement, signed by Gheiler as the seller, contained falsified information regarding the terms of each transaction, including the actual down payment amount paid by the buyer. In order to conceal the incentives from the mortgage lenders, Gheiler directed her co-conspirator, Angel Garcia-Oliver, to form companies that received monies from Tribute that were eventually paid to buyers and entities controlled by other co-conspirators.

If convicted, Gheiler faces a maximum penalty of 30 years in federal prison on each count.  The indictment also notifies Gheiler that the United States is seeking a forfeiture money judgment.

Garcia-Oliver previously pleaded guilty for his role in this case. His sentencing hearing is scheduled for January 9, 2017.

United States Attorney A. Lee Bentley, III announced the indictment. The case was investigated by Federal Housing Finance Agency – Office of Inspector General, the Florida Office of Financial Regulation, and the Federal Bureau of Investigation.  It will be prosecuted by Assistant United States Attorney Vincent Chiu and Special Assistant United States Attorney Chris Poor.

Luis Francisco Moreno, Greer, South Carolina, was charged by information in the U.S. District Court for the Middle District of North Carolina and pled guilty to two counts of bank fraud and one count of conspiracy to commit bank fraud.

According to the Information, Moreno was a licensed real estate broker and real estate developer.  Moreno was experiencing financial difficulties in his business ventures.  Moreno was encouraged by Person A, a closing attorney residing in Lexington, North Carolina who is now deceased, to serve as a loan applicant with Wells Fargo Bank, to purchase two pieces of property in North Carolina. Moreno provided materially false information about his assets and income in the loan applications and provided false documents, including bank statements and tax returns.  Moreno also signed false HUD-1 statements. The scheme diverted the loan proceeds from Wells Fargo.

 

Daniel C. Bomar, 36, Ocean Springs, Mississippi, James B. Wright, 55, Ocean Springs, Mississippi, and Brett T. Immel, 35, Chicago,  Illinois, were indicted by a federal grand jury on April 14, 2016, and charged with conspiracy to commit bank fraud and conspiracy to commit money laundering in the Eastern District of Texas.

According to the indictment, from 2010 to 2012, the defendants are alleged to have conspired to defraud and obtain money from Prime Lending, a mortgage lending company in Dallas, and from Federal Savings Bank, a mortgage lending company in Overland Park, Kansas.  Both companies are insured by the Federal Deposit Insurance Corporation (FDIC).   Continue Reading…

Edgar A. Reyes-Colón and Francisco Quintero-Peña were indicted on charges of with making false statements in loan applications in scheme to obtain money from mortgage lending institutions.. The investigation revealed that as part of the scheme and artifice to defraud, the defendants, through straw buyers, purchased a property by obtaining mortgage loans from a federally insured financial institution in amounts substantially exceeding the selling price of the property. The excess amount of the loan was kicked back to the defendants, and then they would default on payment of the monthly mortgage premiums. In order to ensure the approval of the loan, the participants created and submitted false supporting documentation along with the loan application including  financial statements, bank statements, employment verification letters and tax returns. Continue Reading…

Dahianara Moran, 40, Methuen, Massachusetts, pleaded guilty to one count of conspiracy to commit bank fraud for to participating in a conspiracy to defraud banks and mortgage companies by engaging in sham “short” sales of residential properties in the Merrimack Valley of Massachusetts.

Moran conspired with others – including a Methuen loan officer and a Haverhill real estate agent who were not identified in the charging document – to defraud various banks via bogus short sales of homes in Haverhill, MassachusettsLawrence, Massachusetts, and Methuen, Massachusetts. Continue Reading…

Antonio Pimenta, 47, Neshanic Station, New Jersey, admitted his role in a scheme that used straw buyers and phony loan documents to fraudulently obtain a $400,500 loan on a property in Irvington, New Jersey.

According to documents filed and statements made in court: Pimenta owned and managed Kelmar Construction Co. Kelmar built multiple properties in Irvington, New Jersey. These properties were sold to straw buyers utilizing fraudulent mortgage loans brokered by loan officer, Klary Arcentales, 47, Lyndhurst, New Jersey, and closed by settlement agent Linda Cohen, 57, Orange, New Jersey, who used fraudulent settlement statements to hide the true sources and destinations of the mortgage funds. The straw buyers had no means of paying the mortgages, and many of the properties entered into foreclosure proceedings. Continue Reading…

Christopher Brecciano, 37, of Stamford, Connecticut was sentenced  to 14 months of imprisonment, followed by five years of supervised release, for conspiring to defraud financial institutions through an extensive mortgage fraud scheme that involved dozens of properties in Fairfield County, Connecticut.

According to court documents and statements made in court, between 2006 and 2010, Brecciano, while working as an associate at a Stamford law firm, participated in mortgage fraud conspiracy that involved the purchase of numerous single and multi-family properties, primarily in Bridgeport, Norwalk and Stamford, Connecticut. Brecciano acted as a closing attorney for at least 50 mortgage loan transactions in which materially false information was provided to mortgage lenders by Brecciano or his co-conspirators. The fraudulent information included false verifications of down payments for real estate transactions, false deeds, and false HUD-1 Forms. In many of the transactions, Brecciano knew that the borrower was a “straw buyer,” and that other individuals intended to control the property and collect rent from the property. In many transactions, Brecciano distributed mortgage loan funds to the straw buyer and other co-conspirators at the closing. Continue Reading…

Joseph Brogan, St. Louis, Missouri, was sentenced to 14 months in prison and ordered to pay more than $350,000 in restitution after pleading guilty to multiple fraud charges related to a scheme involving applications for home loans.

According to court documents, Brogan was employed as a loan officer for USA Mortgage, Inc. where he handled both conventional mortgages and FHA loans.  Michael Wallis owned and operated a company known as Missouri Builders and Home Remodeling (Missouri Builders), which performed interior construction and remodeling work on houses.  Continue Reading…

Gabriel Serrano, 47, West Hartford, Connecticut, waived his right to indictment and pleaded guilty before United States Magistrate Judge Donna F. Martinez in Hartford to conspiracy charges stemming from his role in an extensive mortgage fraud scheme. Serrano, an attorney, is a partner in the law firm of Serrano & Serrano, LLC.

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George Anderson, 55, Copperopolis, California, a man who orchestrated a double escrow mortgage fraud scheme involving eight houses in the Las Vegas, Nevada area, has been sentenced to 5½ years in federal prison, three years of supervised release, and ordered to pay over $3.5 million in restitution.

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