Archives For Maryland

Demetrius Peete, 46, Manassas, Virginia, was sentenced by U.S. District Judge James K. Bredar to a year and a day in prison followed by three years of supervised release for conspiring to commit wire fraud in connection with a mortgage fraud scheme, which resulted in losses attributable to Peete of approximately $1.5 million.

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HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, released its May 2014 loan modification data. An estimated 37,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month.

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Mokorya Cosmas Wambura, 41, Takoma Park, Maryland, was sentenced by Chief U.S. District Judge Deborah K. Chasanow to five years in prison followed by five years of supervised release for conspiring to commit wire fraud and aggravated identity theft arising from two separate residential mortgage fraud schemes.

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Mervyn A. Phelan, Sr., 74, Newport Beach, California, and Gregory E. Grantham, 56, Oceanside, California, pleaded guilty to conspiracy, wire fraud and obstruction of justice for their roles in a real estate fraud scheme whereby private money lenders and investors were persuaded to deposit funds into escrow accounts, which were later pillaged by the conspirators.

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Daniel Ira Colton, 64, Annapolis, Maryland and Raleigh, North Carolina, was sentenced to two years in prison followed by three years of supervised release for conspiracy to commit extortion and to making false statements. Colton offered money, entertainment, mortgage payments, and monetary and in-kind campaign contributions to state and local government officials in exchange for favorable official actions, including assisting in the acquisition of surplus property and land from the county for development by Day Homes.

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Jeong Joon Moon, a/k/a Patrick Moon, 46, Germantown, Maryland, has been indicted on charges arising from a scheme to defraud financial institutions.

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Bonnie Kathleen Kreamer, a/k/a Bonnie Meehan, 49, Riva, Maryland, was sentenced by U.S. District Judge James K. Bredar to 51 months in prison, followed by three years of supervised release, for conspiring to commit wire fraud in connection with a mortgage fraud scheme which resulted in losses of over $4.8 million. The defendant and her co-conspirators used many fraudulent techniques to further the conspiracy, including short sales in which the property was sold for a higher price than was represented to the lien holder and the seller.

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Brian Kelly, 37, Forest Hill, Maryland man was sentenced to serve one year and a day in federal prison for defrauding thousands of homeowners in a $4 million nationwide home loan modification scheme wherein Kelly promised homeowners a guaranteed loan modification in exchange for $400-$2,000 in upfront costs.

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Patrick J. Belzner, a/k/a Patrick McCloskey, 45, Glen Arm, Maryland, pleaded guilty to a wire fraud conspiracy, wire fraud and tax evasion. Belzer admitted advising wealthy individuals and investment advisers that in order for the McCloskey Group to obtain loans for real estate projects, the loan broker required large sums of money be deposited in an escrow bank account to show liquidity. However, the investors’ funds were removed soon after being deposited and the stolen funds to pay for their personal and business expenses, as well as to make partial repayments to earlier lenders.

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Nsane Phanuel Ligate, 42, Ashburn, Virginia, a real estate agent, pleaded guilty to conspiring to commit wire fraud in connection with a mortgage scheme involving the purchase of two properties located on North Patterson Park Avenue, Baltimore, Maryland. Co-defendant Cane Mwihava, 43, Bowie, Maryland, pleaded guilty to the same offense.

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