Anshoo Sethi, 30, Chicago, Illinois, a property developer, was indicted on federal charges for allegedly exploiting a U.S. visa program to fraudulently raise approximately $160 million from some 290 Chinese nationals who invested in the project while seeking U.S. residency.
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Bruce Hawkins, 64, Denver, Colorado, the former owner of a home building company that went bankrupt in 2008, leaving unfinished a commercial and residential property development, was sentenced to 15 months in federal prison for bank fraud related to the collapse of the project, known as Riverside Square.
Six defendants are facing federal fraud charges involving separate schemes to obtain a total of more than $2.7 million through fraudulent statements in loan applications submitted to banks and mortgage lenders, among other institutions.
Karen Strasser Steinke, 65, Millstadt, Illinois, was sentenced to twenty-one months imprisonment followed by three years supervised release as a result of her convictions for Wire Fraud in a scheme to defraud clients of Metro East Title, and Structuring of Financial Transactions to Avoid Currency Transaction Reporting Requirements. Evidence showed that Steinke took the funds to support a gambling habit.
Cherron Marie Phillips, who also goes by the name of River Tali Bey, 43, Chicago, Illinois, was convicted by a federal jury after two days of testimony and found guilty of knowingly filing false liens – each in the amount of $100 billion – against the property of current and former federal employees.
George Dravilas, 36, Medinah, Illinois, and Bridget Hutcherson, 40, Chicago, Illinois, were arrested on federal charges for allegedly engaging in a bank fraud scheme purporting to involve the fraudulent sale of two two-flat apartment buildings in Chicago. The charges followed a investigation of fraudulent mortgage loan transactions wherein an undercover agent posed as a mortgage broker who was engaged in fraud and was seeking assistance in structuring fraudulent mortgage loan transactions.
Six individuals, including a condominium developer and two attorneys, are facing federal charges for allegedly engaging in a $22.8 million mortgage loan fraud scheme. The defendants allegedly caused buyers to fraudulently obtain approximately 60 mortgages from various lenders to purchase condominiums.
Maximus A. Yaney, 37, and Jamie L. Bray, 36, both New York residents, were each indicted in Benton, Illinois, on one count of bank fraud and one count of wire fraud for their alleged roles in a mortgage fraud scheme wherein they used fake documents to persuade lenders to finance the sale of an apartment complex.
Matthew Stoen, 35, Wayzata, Minnesota, and formerly of St. Charles and Chicago, Illinois, was indicted on federal charges alleging that he fraudulently obtained more than $10 million from more than 50 investors and lenders.
John Thomas, 51, Chicago, Illinois, a real estate developer, was arrested on federal charges alleging that he defrauded the south suburban Village of Riverdale of funds provided for the redevelopment of the now closed Riverdale Marina. The defendant allegedly fraudulently obtained approximately $370,000 for himself from $900,000 in financing.