Archives For Virginia

Mohsin Raza, 51, Chantilly, Virginia, along with his wife, Humaira Iqbal, 39, Chantilly, Virginia, and her two brothers, Farukh Iqbal, 41, Chantilly, Virginia, and Mohammad Ali Haider, 33, Chantilly, Virginia, were convicted by a federal jury on charges of conspiracy to commit wire fraud affecting a financial institution and various counts of wire fraud affecting a financial institution.

The defendants were indicted on April 23, 2015.  According to court records and evidence at trial, in 2005, Raza, then employed at Bank of America, was hired by SunTrust Mortgage (STM) as a vice president tasked with opening an office in Annandale, Virginia.  Raza hired his wife, another former loan officer from Bank of America, and her brothers, Farukh Iqbal and Haider, to work as loan officers.   From 2006 until 2007, they falsified loan applications for borrowers and purchased fake tax documents to support the false loan applications.  Sun Trust Mortgage underwriters in Richmond approved the loans based in large part upon the fake documents in the files, and borrowers were given loans to buy homes that they could not afford. Continue Reading…

Rosita Vilchez, 41, who was a fugitive in Lima, Peru, until she was extradited to the United States in June 2015, was sentenced  to 66 months in prison for leading a wide-ranging mortgage fraud conspiracy that targeted hundreds of victims in the northern Virginia Hispanic community. Vilchez was also ordered to serve a five-year term of supervised release after her prison term.  A forfeiture money judgment of more than $5 million was previously entered against Vilchez.

The mortgage fraud scheme, which operated between August 2005 and August 2007, generated nearly $7.4 million in fraudulent proceeds and caused losses of more than $15 million to lenders, most of which were federally insured. Continue Reading…

Kristen Michelle Ayala, aka Amber Lynch, aka Olivia Benet, aka Grace Williams, 30, formerly of Las Vegas, Nevada, and Joshua Manuel Sanchez, aka Nelson Cruz, aka Chris Ward, aka Daniel Mora, 34, formerly of Las Vegas, Nevada, were sentenced for conspiracy to commit wire fraud for their role in a $3.8 million dollar mortgage modification scam.

Ayala was sentenced to 135 months in prison, while Sanchez was sentenced to 151 months in prison. Both defendants were also sentenced to three years of supervised release and ordered to pay full restitution to the victims of their crime. Continue Reading…

Rosita Vilchez, 39, a fugitive in Lima, Peru, until she was extradited to the United States in June 2015, pled guilty to leading a wide-ranging mortgage fraud conspiracy that targeted hundreds of victims in the northern Virginia Hispanic community. The mortgage fraud scheme, which operated between August 2005 and August 2007, generated nearly $7.4 million in fraudulent proceeds and caused losses of more than $15 million to lenders, most of which were federally insured. Continue Reading…

Charise Stone, 46, Ashburn, Virginia, was sentenced to 60 months in prison, followed by three years of supervised release for her role in a real estate short sale scheme that included tax and mortgage fraud, and passing fraudulent financial documents. Stone was also ordered to forfeit $721,552, and ordered to pay restitution of $2,441,174 to the victim financial institutions and the IRS.

Stone was found guilty by a federal jury on May 27, 2015 in the short sale scheme. According to court documents, from 2007 to 2010 Stone targeted distressed homeowners who owed more on their mortgage loan than the market value of the home with false promises of financial recovery. Stone acquired distressed homeowners’ properties in her own name or under entities she controlled, made false representations to mortgage lenders in order to induce approval of the short sales, and then re-sold the properties—often the same day or the next—to new buyers at a price above the short sale amount, in violation of agreements made with mortgage lenders. Continue Reading…

Teresa Wieringo Humphries, 60, Madison Heights, Virginia, the former head teller of the Lynrocten Credit Union, Lynchburg, Virginia, was sentenced on federal embezzlement charges for her role in a scheme whereby she, and the manager of the credit union, used unauthorized and fraudulent origination of loans in the names of credit union members to embezzle and steal funds from the credit union’s deposits.

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George Kalivretenos, 58, Miami Beach, Florida, who allegedly stole $4 million in borrowers’ funds and lied to federal law enforcement agents, was indicted by a federal grand jury on charges of wire fraud, money laundering, and false statements.

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Linda Sue Newcomb, 63, Madison Heights, Virginia, who was the former manager of the Lynrocten Federal Credit Union, pled guilty in United States District Court for the Western District of Virginia to embezzlement, bank fraud and identity theft charges for her role in originating loans in the names of credit union members without those members’ knowledge or consent, including forging the member’s name to fictitious loan documents. Continue Reading…

Susanne Helbig, 50, Roanoke, Virginia, the former majority owner of a construction company who recruited a number of strawbuyers to defraud financial institutions of millions of dollars through an intricate mortgage fraud conspiracy, was sentenced in the United States District Court for the Western District of Virginia in Lynchburg.

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Julie L. Duffield, 45, Eureka, Montana, owner and operator of Professional Closing Company, pleaded guilty to conspiracy to commit mail and wire fraud concerning her role in an identity theft and straw buyer scheme.

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