Archives For Straw Buyer

Kathryn Sylvester, San Diego, California, was sentenced to 41 months in custody for operating a large-scale mortgage fraud scheme that caused over $6 million in losses on various properties in San Diego and Orange Counties, California. Sylvester promised straw buyers that she would flip a number of the properties for a quick profit. Instead, she systematically drained equity from the properties for her own benefit.

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Six family members are the subjects of a Colorado statewide grand jury 37-count indictment for using their status in the real estate industry to perpetrate a fraud-for-profit mortgage fraud scheme. The family is accused of manipulating straw buyers to buy and sell properties destined for foreclosure.

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Annika Boas, 37, Mount Rainier, Maryland, was convicted on September 19, 2014, of conspiracy, wire fraud and making a false statement on a loan application, arising from a residential mortgage fraud scheme.

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Filippos Milios, also known as Filip Milios, 55, Newington, Connecticut, pleaded guilty before U.S. Magistrate Judge Donna F. Martinez to conspiracy and money laundering offenses stemming from his role in a mortgage fraud scheme that involved dozens of Connecticut properties.

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Sean A. Souels, 44, Linden, New Jersey, a pastor of the now-defunct ReBirth International Church, Elizabeth, New Jersey, admitted to defrauding financial institutions 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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Peter Allen, Southfield, Michigan, has been sentenced to 21 months in prison followed by two years of supervised release for his participation in a conspiracy to commit bank fraud wherein Allen and his co-conspirators defrauded National City Bank and Fannie Mae.

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Charles Head, 40, Pittsburgh, Pennsylvania, (formerly of Los Angeles and Orange County, California), was sentenced by United States District Judge Kimberly J. Mueller to 35 years in prison for his role in a scheme whereby victims were fraudulently led to complete transactions that substituted straw buyers for the victim homeowners on the titles of properties without the homeowners’ knowledge. .

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Larry Fullenwider, 63, Belleville, New Jersey, admitted conspiring to defraud financial institutions as part of a $15 million mortgage fraud scheme that used phony documents and straw buyers to make illegal profits on overbuilt condos.

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Anna Sorokina Kuzmenko, 33, Sacramento, California, was convicted by a federal jury after a nine-day trial of two counts of wire fraud in a mortgage fraud scheme for her role in acting as a straw buyer for two loans.

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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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