Archives For Straw Buyer

Hong Jae Kim, aka Randy Kim, 45, was sentenced by U.S. District Judge Jane J. Boyle to 10 years in federal prison and ordered to pay $1,795,125 in restitution for his nearly two-year role in a scheme to launder mortgage fraud proceeds.

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Robert Timothy Koger, 48, formerly of Oakton, Virginia, the president of an international brokerage firm, was sentenced to 11 years in prison for conducting a wide-ranging set of fraud schemes involving the sale of several properties. Koger located legitimate buyers at fair market price, then he recruited straw buyers with whom he arranged the sale for considerably less than the legitimate buyers in exchange for a kickback when the straw sold the property to the legitimate buyer.

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Jarrod Jamiel Williams, 35, McKinney, Texas, Christopher Davis Allen, 42, and his ex-wife, Cheryl Renee Allen, 51, both of Dallas, Texas, Arzonda Murchison, 43, Dallas, and Aaron Robert Martell, Georgia, who were convicted for their roles in a mortgage fraud scheme that caused more than $3 million in losses to lenders, have been sentenced to prison.

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Luis Michael Mendez, 44, and Wilkie Perez, 39, both of Miami, Florida, pleaded guilty to participating in a mortgage fraud scheme involving the sale of condominium units to straw buyers in the Miami area.

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Wasseem Shamoun pleaded guilty to conspiracy to commit bank fraud in the U.S. District Court for the Eastern District of Michigan for his role in a scheme wherein he and his co-conspirators purchased property then recruited straw buyers to submit fraudulent loan applications to lenders in exchange for a fee.

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Muhammad Shafique, 44, Egg Harbor Township, New Jersey, man was sentenced today to 57 months in prison for trafficking millions of dollars in contraband cigarettes, laundering the proceeds through his South Jersey store and participating in a $2 million mortgage scheme in New York.

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Din Chaney, 36, and Lisa Lipton, 50, the final two defendants charged for their roles in a multi-million dollar mortgage fraud scheme operating in the Houston, Texas area have been ordered to prison.

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Gregory D. Anderson, 47, Kingstree, South Carolina, was sentenced to 15 years prison, and his co-defendant Anthony C. Carrothers, 49, Charlotte, North Carolina, was sentenced to 10 months, for their involvement in a mortgage fraud conspiracy wherein straw buyers were recruited to purchase homes with inflated values in exchange for kickbacks.

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Leonard E. Williams, 52, Sacramento, California, was found guilty after a six–day trial in a mortgage fraud case of conspiracy to commit mail and wire fraud and two counts of money laundering.  The trial was held before United States District Judge William B. Shubb.

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Jeffrey Witt, 39, St. Charles, Missouri, pled guilty to three (3) federal felony charges: falsifying documents to obtain a bank loan secured by a St. Louis County, Missouri, home, which did not actually belong to him, using an associate to impersonate the true home owner at the bank loan closing, and cashing legal client settlement checks without their knowledge.

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