Mario Alvarenga, Rajesh Maddiwar, and Amir Meiri were arrested for participating in a scheme wherein, through an organization that advertised help to those seeking loan modifications to avoid foreclosure, obtained millions of dollars by deceiving homeowners into selling their homes to a company associated with the defendants.
Archives For Short Sale Fraud
Conan Hayes, 40, Topanga, California, the former co-owner of the clothing brand RVCA is scheduled to be arraigned May 4, 2015, for committing short-sale fraud of his home and causing a total loss of over $500,000 to the lender.
Agustin Simon, 53, Patterson, California, was sentenced by U.S. District Judge Lawrence J. O’Neill to 15 months in prison for conspiring to commit bank fraud. Simon was convicted of submitting fraudulent short-sale applications, which caused financial institutions to approve the charge-off of funds for the short-sale of his home.
Danny Zhao, 36, Ashburn, Virginia, pleaded guilty to conspiracy to commit bank fraud admitting his role in a short sale mortgage fraud scheme.
Minerva Sanchez, 48, Fremont, California, a licensed real estate agent, was sentenced by Senior U.S. District Judge Anthony W. Ishii to 21 months in prison for her role in a short sale fraud scheme.
Jason Springer, an attorney, and Rick Makohoniuk, a real estate agent, were both convicted of bank fraud after an eight-day jury trial. Springer was convicted of seven counts of bank fraud, and Makohoniuk was convicted of one count of bank fraud, in connection with a short sale/property flipping scheme.
Luis J. Rojas, 38, Hendserson, Nevada, a criminal defense attorney, pleaded guilty in federal court to making false statements in connection with a fraudulent short sale of his property in Henderson Nevada.
Emeka Udeze, 39, Bowie, Maryland, was sentenced by U.S. District Judge Peter J. Messitte to 37 months in prison followed by five years of supervised release for conspiring to commit wire fraud in connection with two separate mortgage fraud schemes that involved loan application misrepresentations and short sale fraud.
11 people, as well as a closing attorney, have been indicted on charges that they allegedly conspired to steal nearly $1 million from lenders through a short-sale mortgage fraud scheme.
Michael “Sean” Davis, 43, Crestview, Florida, has been indicted by a federal grand jury and charged with nine felony counts for allegedly orchestrating short sales from Bank of America by causing the submission of false documents in real estate closings.