Sixteen people have been charged for operating a fraudulent telemarketing scheme that involved losses of over $20 million to more 290 victims in 46 states and Canada, including Michigan.
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Nationwide Consulting, LLC, and its operators, Kenneth Sandoval and Zacharia Ortiz, who were convicted for their roles in a loan modification scheme, will be repaying their victims out of restitution obtained in the criminal case.
Joel Wilson, 31, Saginaw, Michigan, who was extradited from Germany after being on the lam in Europe for more than a year, will proceed to trial for his alleged role in an extensive real estate Ponzi scheme. Wilson allegedly defrauded investors by telling them he would use their funds to purchase distressed properties, then sell them at a profit.
Charles Patrick Gahan, Grand Rapids, Michigan, a real estate developer, was indicted on August 26, 2014, on charges of conspiracy to commit wire fraud affecting financial institutions for his role in a mortgage stacking scheme wherein he failed to disclose the existence of prior recorded liens and mortgages.
Richard Hollern, 39, Grand Ledge, Michigan pled guilty before U.S. District Judge Robert Holmes Bell to a conspiracy to commit bank fraud in connection with his ownership in CDC Investments.
Wasseem Shamoun pleaded guilty to conspiracy to commit bank fraud in the U.S. District Court for the Eastern District of Michigan for his role in a scheme wherein he and his co-conspirators purchased property then recruited straw buyers to submit fraudulent loan applications to lenders in exchange for a fee.
Richard Dean Woolsey, 42, Grosse Ile Township, Michigan, was sentenced after being convicted at trial of conspiracy to commit wire fraud and wire fraud for his role in a mortgage fraud scheme. Woolsey and his conspirators disguised the source of down payments and provided false and inflated appraisals for properties, among other things.
Seamus P. Dillon, 37, Ada, Michigan, was sentenced to two years in federal prison, followed by three years of supervised release, after pleading guilty to conspiracy to commit mortgage fraud. Dillon and his cohorts made a series of false statements designed to defraud the lender and obtained approximately $850,000, which they used for their own purposes.
Joel Wilson, 31, Saginaw, Michigan, has been successfully extradited after fleeing justice for more than a year in Europe. Wilson faces nine felony charges dealing with three specific Michigan investors. Wilson allegedly told investors that he would use their funds to purchase distressed properties, refurbish them, and then sell for a profit.
Kenneth Sandoval, 36, Dearborn, Michigan, owner of Nationwide Consulting, was sentenced to up to 20 years in prison after being convicted of one count of Conducting a Criminal Enterprise, a felony punishable by 20 years in prison, and two counts of Larceny by Conversion, $20,000 or more, a felony punishable by up to 10 years in prison. Sandoval defrauded approximately 84 victims out of $914,151.