Timothy William Barnes, 37, formerly of San Luis Obispo, California, a real estate broker pleaded guilty to orchestrating a property flipping scheme in which he purchased houses in short sales at artificially low prices and immediately resold the properties at their true market value.
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Minerva Sanchez, 47, Fremont, California, was arrested at her home for allegedly conspiring to commit bank fraud in connection with a fraudulent short-sale scheme.
Lillian Marquez, 38, and Michael Keatts, 56, both of Stockton, California, were arrested in their homes for a mortgage fraud scheme. A federal grand jury indictment charged them with conspiring to commit mortgage fraud and with nine counts of mail fraud. The indictment was unsealed upon their arrests.
Nine individuals have been charged in Colorado with targeting distressed homeowners as part of a fraudulent short-sale scheme that allowed the defendants to ultimately defraud the banks and lenders who held the mortgages for the distressed homeowners.
Cynthia Hosbrook, 41, and Robert Hosbrook, 52, both of Henderson, Nevada, a husband and wife who worked as real estate agents in southern Nevada, have pleaded guilty to bank fraud charges in connection with several residential short sale transactions that resulted in over $350,000 in losses to Wells Fargo and Freddie Mac.
Deborah L. Kistner, 50, Hilliard, Ohio, was sentenced to 66 months in prison, five years of supervised release, and ordered to repay victims $9,644,601.84 for deceiving lenders while securing fraudulent real estate loans in three different conspiracies between July 2006 and July 2010.
Bonnie Kathleen Kreamer, a/k/a Bonnie Meehan, 47, Riva, Maryland, pleaded guilty today to conspiring to commit wire fraud in connection with a mortgage fraud scheme which resulted in losses of more than $4.8 million.
Cynthia Hosbrook, 41, currently a licensed real estate agent in Nevada, and Robert Hosbrook, 51, formerly a licensed real estate agent in Nevada, both of Henderson, Nevada, have been charged in U.S. District Court with conspiracy and fraud for making false statements to Wells Fargo Bank in order to get it to approve a short sale on their home.
Diane M. Hathaway, 58, Grosse Pointe, Michigan, a former Michigan Supreme Court Justice, was sentenced to one year and one day in federal prison after having pleaded guilty in January 2013 to committing bank fraud in connection with a property in Grosse Pointe Park, Michigan.
Diane M. Hathaway, 58, Grosse Pointe, Michigan, a former Michigan Supreme Court Justice, pleaded guilty to committing bank fraud in connection with a property owned at 15834 Lakeview Court, Grosse Pointe Park, Michigan.Continue Reading...