Archives For Real Estate Agent

Edward Khalfin, 58, San Mateo, California was found guilty by a federal jury of 12 counts of mail fraud and 11 counts of making false statements on loan applications. Robin Dimiceli, 53, Brentwood, California was found guilty by a federal jury of six counts of mail fraud and six counts of making false statements on loan applications.  The convictions arise out of a builder bailout scheme that provided financial incentives to straw buyers to get them to purchase homes that developers were having difficulty selling

According to court documents, from August 2006 through May 2008, two brothers, Volodymyr Dubinsky, 56, formerly of Folsom, California, and Leonid Doubinski, 50, formerly of Copperopolis, California, built, developed, and sold real estate in Carmichael, California, Sacramento, California, and Copperopolis, California. As the real estate market declined, the brothers recruited family members, employees, and associates with good credit to act as straw buyers for residential properties. The Dubinsky brothers have not been apprehended and are fugitives thought to be residing in Ukraine. Continue Reading…

Hubert Rotteveel, 52, Dixon, California was sentenced  to three years and four months in prison for one count of mail fraud, .

In September 2014, Rotteveel was found guilty by a federal jury of one count of mail fraud relating to 13 properties in Dixon. According to evidence produced at trial, Rotteveel acted as a real estate salesperson for the 13 properties, with over $7 million in loans authorized for just two buyers in seven months. He inflated the values of the properties and worked with loan officers to provide false information to lenders about the income and liabilities of the buyers to induce the lenders to fund loans for the properties. Rotteveel surreptitiously made the down payments on the homes, instead of the buyers, and got that money (and usually more) back from the lenders at closing. For most of the transactions, when the sales closed, the escrow officer distributed funds to a bank account in the name of Windmill Properties, a company owned by Rotteveel, without disclosing these payments to the lenders. All 13 properties were used as rentals, with Rotteveel collecting the rents through Windmill Properties. He netted over $300,000 through the sales in just seven months, and the lenders lost more than $3 million when all 13 properties underwent foreclosure.

United States Attorney Benjamin B. Wagner stated: “Hubert Rotteveel used his knowledge of the real estate market in Dixon to defraud lenders of over $7 million, resulting in losses of over $3 million after each of the homes went into default and a foreclosure sale was held. Today’s sentence is one step in the continuing effort to hold real estate professionals responsible for their role in the mortgage meltdown.”

This prosecution should serve as a warning to those who abuse their position of trust,” said Thomas McMahon, Acting Special Agent in Charge, IRS-Criminal Investigation. “Mr. Rotteveel manipulated the MLS listings for properties, failed to disclose his true role in the transactions and made numerous misrepresentations to lenders.  Although this sentence cannot reverse the damage caused by Mr. Rotteveel, it highlights the ongoing commitment of IRS-CI to hold accountable those involved in these types of crimes.”

Rotteveel was sentenced by Senior United States District William B. Shubb.   The case was the product of an investigation by the Internal Revenue Service – Criminal Investigation and the Federal Bureau of Investigation. Assistant United States Attorneys Jean M. Hobler and Justin L. Lee prosecuted the case.

 Timothy L. Ritchie, 44, Annapolis, Maryland, pleaded guilty to making false statements arising from a real estate closing.

Ritchie owned and operated Richland Homes, Inc., and was in the business of building, purchasing and selling homes.

According to his plea agreement, on July 7, 2005, Ritchie attended a residential closing for his purchase of three lots located at 24058 St. Michael’s Road, St. Michael’s, Maryland.  John L. Davis, 55, real estate agent, Chestertown, Maryland, conducted the closing, and listed Ritchie on the HUD statement as the buyer/ borrower.  The HUD statement falsely stated that Ritchie provided $1,153,937.23 in cash at the closing.  In fact, Ritchie did not provide any funds to Davis at the closing. As a result of the false statement, Ritchie fraudulently obtained approximately $2,445,102 from a mortgage lender by wire transfer to fund the settlement.

Ritchie faces a maximum sentence of five years in prison.  U.S. District Judge Richard D. Bennett scheduled his sentencing for January 14, 2016, at 10:00 a.m.

John L. Davis previously pleaded guilty to conspiracy to commit mail fraud and wire fraud arising from his participation in the scheme, and awaits sentencing. Davis admitted that the loss arising from his participation in the scheme is between $400,000 and $1 million.

The guilty plea was announced by United States Attorney for the District of Maryland Rod J. Rosenstein; Deputy Inspector General for Investigations Rene Febles of the Federal Housing Finance Agency Office of Inspector General; and Special Agent in Charge Fran Mace, of the Federal Deposit Insurance Corporation Office of Inspector General.  United States Attorney Rod J. Rosenstein commended the FHFA – OIG and FDIC – OIG for their work in the investigation.  Mr. Rosenstein thanked Special Assistant U.S. Attorney Kevin V. DiGregory and Assistant U.S. Attorney Kathleen O. Gavin, who are prosecuting the case.

Moctezuma Tovar, 46, Sacramento, California and Sandra Hermosillo, 53, Woodland, California pleaded guilty to conspiring to commit wire fraud in connection with a mortgage fraud scheme.

According to court documents, Tovar was the founder and president of Delta Homes and Lending Inc., a Sacramento, California based real estate and mortgage lending company. Delta Homes opened one office in 2003 and eventually had five offices in Sacramento and Woodland, California. As the president of Delta Homes, Tovar managed the day-to-day operations of the company and prepared and submitted residential home loan applications on behalf of Delta Homes’ clients. Hermosillo was a loan officer at the Woodland office and was also responsible for submitting residential home loan applications on clients’ behalf. Continue Reading…

Gary Blankenship, 44, St. Petersburg, Massachusetts was indicted in the Middle District of Florida and charged with conspiracy, wire fraud, and bank fraud. The indictment alleges a zero down mortgage fraud for condominiums involving buyer kickbacks and incentives.

According to the indictment and court proceedings, in 2005, entities controlled by co-conspirators entered into a contract to purchase The Arbors, an apartment complex in Hillsborough County, Florida. The new owners then engaged in a plan to convert the complex from rental apartment units to condominium units.

Blankenship’s co-conspirator, Brenden Bolger, aided the developers in the sale of numerous condominium units through his company, Capital Management Guarantee, LLC. In order to induce buyers to purchase The Arbors units, Bolger created an addendum to the purchase contract offering buyers various incentives such as rental supplements, money to defray maintenance costs, and a design credit to upgrade the units’ amenities. When the buyers cancelled the design credit within 10 days of signing the addendum, Bolger paid them a kickback from his company’s bank account for the amount of the design credit. Blankenship’s role in the conspiracy as a real estate agent consisted of marketing The Arbors units by promising buyers that they would not be required to provide any money at closing, actually providing cash for borrowers to close on the units, facilitating the payment of kickbacks to his clients via Capital Management Guarantee, and facilitating the submission of false loan applications to FDIC-insured financial institutions, or their subsidiaries. In this manner, Bolger, Blankenship, and other co-conspirators failed to disclose material facts to the buyers’ mortgage lenders about the financing of the condominium sales.

He faces a maximum penalty of 30 years’ imprisonment for each charge.

Bolger previously pleaded guilty his role in the conspiracy. His sentencing is scheduled for September 18, 2015. 

The case was investigated by the Federal Bureau of Investigation and the Federal Housing Finance Agency – Office of Inspector General. It is being prosecuted by Special Assistant United States Attorney Chris Poor and Assistant United States Attorney Jay Hoffer.


Cecil Sylvester Chester, 68, accountant, Mitchellville, Maryland; Michael Gerard Camphor, 59, real estate agent, Baltimore, Maryland; and Christopher Andy Kwegan, 58, real estate agent, Randallstown, Maryland were indicted by a federal grand jury on charges arising from the fraudulent purchase of seven properties in Baltimore, Maryland, using fraudulent loan documentation and straw purchasers, resulting in losses of over $1.7 million. Continue Reading…

Vince Manglardi, 59, real estate developer, Long Grove, Illinois; Theodore “TJ” Wojtas, Jr., 43, real estate developer, Glenview, Illinois; David W. Belconis, 56, attorney who owned and operated Classic Title, Inc., Long Grove, Illinois; Nunzio L. Greico, 63, Palatine, Illinois, who was formerly an employee of the developers; Walter Vali, also known as “Wally Mohammad” and “Mohammad Valimohammad,” 62, former mortgage loan originator, who did business as Sunshine Funding, Inc., Mundelein, Illinois; and Karin L. Ganswer, 62, former licensed real estate salesperson, Palatine, Illinois were indicted by an federal grand jury and charged with mail and wire fraud in connection with the marketing and sale of condominiums at a 50-acre development in Palatine, Illinois known as “The Woods at Countryside.”  They are alleged to have participated in a mortgage fraud scheme which caused more than $16 million in losses to banks, mortgage lenders, Fannie Mae, and Freddie Mac. Continue Reading…

Jeriel Salinas, 32, Bakersfield, California, pleaded guilty to one count of conspiracy to commit mail fraud, wire fraud, and bank fraud relating to his involvement in an extensive mortgage fraud scheme while working at Crisp & Cole Real Estate.

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James Thomas Webb, 51, North Carolina, has been charged in a 50-count indictment which includes conspiracy to commit bank and wire fraud, and making false statements to influence banks on loans and aiding and abetting.

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Celia Gallardo, 42, North Hills, California, a real estate agent and self-described real estate investor charged with running a million dollar-plus Ponzi scheme out companies based in the Santa Clarita Valley, has been arrested on federal wire fraud and mail fraud charges.

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