Archives For Straw Buyer

Timothy Ricks, 47, East Orange, New Jersey, was sentenced to 84 months in prison for conspiring to defraud financial institutions and launder stolen funds as part of a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos.

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Paxton Jeffrey Anderson, 44, Montevideo, Minnesota, and Joseph John Plany, 42, Hutto, Texas, were sentenced by U.S. District Court Judge Susan R. Bolton to eight years and four years in prison, respectively, and ordered to pay $3,270,425 in restitution. The defendants ran a scam wherein, unbeknownst to the borrowers, they forged and altered draw requests, and other documents, to withdraw money from the construction loans then used that money to buy racehorses and trips to the Kentucky Derby, among other things.  Continue Reading…

Arlene Jeanette Mojardin, 32, Bakersfield, California, was sentenced by United States District Judge Anthony W. Ishii to two years and six months in prison for conspiring to commit bank fraud, mail fraud, and wire fraud, in connection with a mortgage fraud scheme in Bakersfield.

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After a 12–day trial, a federal jury found six defendants guilty of all counts of wire fraud in connection with a $5 million mortgage fraud scheme.

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Lucia Chavez, 37, and her husband Joseph Chavez, 41, both of Bakersfield, California, pleaded guilty to conspiracy to commit bank fraud, mail fraud, and wire fraud, in connection with a mortgage fraud scheme in Bakersfield. As part of their plea agreements, Lucia Chavez agreed to a personal forfeiture money judgment of $1,624,450, and Joseph Chavez agreed to a personal forfeiture money judgment of $3,092,000.

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Damone Tyson, 49, Cleveland, Ohio, was indicted on bank fraud charges related to the fraudulent purchase of a Richfield, Ohio, home for nearly $1.2 million.

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Edward Dacy, 76, most recently of West Melbourne, Florida, has been found guilty by a jury of 10 counts of conspiracy, bank fraud, and mail fraud stemming from a multi-million-dollar mortgage fraud scheme involving 45 properties and $16 million in mortgage loans used for the purchase of residential real estate in the District of Columbia and Maryland.

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Edgar Tibakweitira, a/k/a Edgar Julian, Charles Edgar Tibakweitira, and Edgar Gaudious Tibakweitira, 46, Severn, Maryland,  was sentenced by District Judge George J. Hazel to 57 months in prison, followed by five years of supervised release, for conspiracy to commit wire fraud and aggravated identity theft, arising from a residential mortgage fraud scheme.

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Marie Lucie Tondreau, a/k/a Lucie Tondreau, 54, North Miami, Florida, the former North Miami Mayor, was sentenced by United States District Judge Robert N. Scola for her participation in a multi-million dollar mortgage fraud scheme.

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Eliseo Jara Jr., 35, his wife, Melissa Jara, 34, and his brother, Sergio Jara, 33, all of Bakersfield, California, entered guilty pleas in connection with a $5.6 million mortgage fraud scheme in Bakersfield. Continue Reading…