Archives For Title Fraud

Robert Jacobsen, 67, formerly of Lafayette, California, was charged with wire fraud and with engaging in financial transactions involving criminally derived proceeds arising out of an alleged scheme to defraud homeowners and mortgage holders

According to the indictment, Jacobsen created a company called “American Brokers’ Conduit Corporation.”  This company was not related to a mortgage originator known as “American Brokers’ Conduit,” which had originated mortgages in the Bay Area and elsewhere.  Jacobsen, through intermediaries, gained control of homes with mortgage liens that secured loans originated by the real “American Brokers’ Conduit,” and then, again through intermediaries, sued the phony “American Brokers’ Conduit Corporation” in court, claiming that the legitimate mortgage liens were invalid. Continue Reading…

Ray M. Mubarak, 56, Knoxville, Tennessee, was sentenced to serve 57 months in prison for conducting a scheme to defraud financial institutions and engaging in an unlawful monetary transaction with fraudulently-obtained loan proceeds.  He was also ordered to pay $1,993,938.44 in restitution to three banks and a title insurance company that lost money as a result of the scheme.

Mubarak pleaded guilty in May 2015 to federal charges stemming from his scheme to defraud multiple banks into loaning him over $6 million. He submitted false tax returns and personal financial statements which grossly inflated his income and net worth in order to qualify for the loans. Mubarak also admitted to defrauding the banks by causing them to rely on a fraudulent title opinion letter and forged loan closing documents and deeds.

The trial for Mubarak’s co-defendants, Dianna Mubarak and Blythe Bond Sanders, III, is scheduled for March 1, 2016.

Marbarak was sentenced by the Honorable Pamela L. Reeves, U.S. District Judge.  The investigation was conducted by the Internal Revenue Service – Criminal Investigation and Federal Bureau of Investigation.  The investigation and prosecution of Mubarak was coordinated with the Office of the District Attorney General, 6th Judicial District.  Matthew T. Morris, Assistant U.S. Attorney, represented the United States.

Mohamed Daoud, 50, a Norwegian businessman, has pleaded guilty to laundering the proceeds of a complex scheme to steal real property. According to his plea agreement, between July 2012 and February 2013, Daoud helped to launder some of the millions of dollars in proceeds generated by a group of confederates who posed as the real owners of Southern California homes in order to “sell” the properties to unsuspecting buyers—who later learned that they had actually purchased nothing. Immediately after each sale, Daoud admitted, the confederates would disburse the money, ensuring that the funds vanished and the buyers could not recover their stolen money. Continue Reading…

Daniel Deaibes, 36, Rancho Cucamonga, California, pleaded guilty to participating in a scheme to steal title to Southern California homes, and then to “sell” the properties to unsuspecting buyers—who later learned they had actually purchased nothing.

Continue Reading…

Angela M. Blythe, 51, Oakland, Maryland, was indicted on charges of conspiracy, bank fraud and making a false statement to a bank for her alleged role in preparing deeds, mortgages and notes in false identities, then recording those fraudulent documents thereby concealing the true owner of the properties.

Continue Reading…

John C. McBride, 65, Marblehead, Massachusetts, pleaded guilty to tax and bank fraud violations, primarily for recording fraudulent federal tax lien releases on properties he owned in Marblehead and Edgartown, Massachusetts.

Continue Reading…

Ania Nowak, 48, Belvidere, New Jersey, a former real estate title agent, admitted carrying out a mortgage fraud scheme in which she obtained seven loans, totaling more than $3.7 million, on two properties located in Wood-Ridge, New Jersey and Belvidere, New Jersey.

Continue Reading…

Emma Adel, 45, and Mazen Fazah, 39, both of Rancho Cucamonga, California, were recently arrested for stealing title to a home and then selling it for profit.

Continue Reading…

Susan C. Kevra-Shiner, 46, Clarks Summit, Pennsylvania, was indicted and charged with seven counts of mail fraud relating to an abstract and title insurance company she owned in Avoca, Pennsylvania, GK Abstract Co., Inc.  Despite losing an agency agreement with Stewart Title Guaranty CompanyKevra-Shiner allegedly continued to issue numerous title insurance policies. 

Continue Reading…

Randall David Due, Pelham, Georgia, was found guilty by a federal jury in Omaha, Nebraska, of seven counts of conspiracy to file and filing false liens against two U.S. District Court judges, the U.S. Attorney for the District of Nebraska, two Assistant U.S. Attorneys and an Internal Revenue Service (IRS) special agent. Due filed a total of five $18 million false liens with the Washington County Register of Deeds Office.

Continue Reading…