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.
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Minerva Sanchez, 48, Fremont, California, pleaded guilty to conspiracy to commit bank fraud. Sanchez admitted that she advised a seller to submit false and fraudulent short-sale applications to Tri Counties Bank and Freddie Mac.
Anthony Keslinke was charge by superseding indictment in a scheme involving short sale mortgage fraud. The defendant allegedly used straw buyers to purchase real estate throughout Northern California.
Nathan Smith, Patrick Steven, Jason Springer, Rick Makohoniuk, and Jerod Hogan, have each been indicted and charged with bank fraud based on their participation in an alleged fraudulent property flipping scheme in Des Moines, Iowa.
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.
Sofia Atias, 44, Great Neck, New York, Joseph Atias, 50, Great Neck, Nicholas A. Pellegrini, 51, Garden City, New York, and Paula Berckhoff, 34, Garden City, have been charged with bank fraud and conspiracy for allegedly defrauding Bank of America of over half a million dollars by avoiding foreclosure on a home through a fraudulent short sale of the property to a straw buyer.
Kevin Lauricella, 29, Thousand Oaks, California, a former Bank of America employee was sentenced to 30 months in federal prison for taking more than $1.2 million in bribes to approve artificially low-price short sales of properties on which the bank held mortgages.
Jose Marinay, 52, Annandale, Virginia, pleaded guilty to conspiracy to commit wire fraud for his involvement in a short sale mortgage fraud conspiracy.
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.
Delio Coutinho, 71, Colonia, New Jersey, admitted his role in a large-scale mortgage fraud scheme that caused millions of dollars in losses. The defendant conspired with others to release liens on encumbered properties via fraudulently arranged short sale transactions.