Archives For Washington

Emiel A. Kandi, 37, University Place, Washington, a former hard money lender, pleaded guilty to conspiracy to submit false statements in loan applications and make false statements to the Department of Housing and Urban Development and to submitting false statements in loan applications.

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Local Records Office, Bellflower, California, a company that allegedly preys on unsuspecting new property owners, is the subject of a Consumer Protection Act lawsuit.

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James E. Bishop, 70, Mount Vernon, Washington, former Chairman and CEO of Summit Bank, a Skagit County community bank, pleaded guilty in U.S. District Court to making a false entry in a report of an insured bank.

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Jose L. Nino de Guzman, Jr., 30, Seattle, Washington, who marketed real estate investment opportunities in Peru, pleaded guilty in U.S. District Court to wire fraud and money laundering for his creation and operation of a classic Ponzi scheme.

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Robert Mikail, 40, and Ging-Hwang “Felicia” Tsoa, 58, both of Ashburn, Virginia, have been charged with conspiracy and bank fraud charges related to their alleged roles in a $20 million mortgage fraud scheme involving more than 35 homes.

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Shawn L. Portmann, a former senior vice president and loan officer at Pierce Commercial Bank, was sentenced in U.S. District Court in Tacoma to 10 years in prison and five years of supervised release for a mortgage fraud scheme that resulted in the collapse of the bank.

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Jeanette R. Salsi, Alice Lorraine Barneyand and Sonja Lightfoot, each of whom played important roles in a mortgage fraud scheme that crippled now defunct Pierce Commercial Bank were sentenced in U.S. District Court. All three of the women worked for years with scheme leader Shawn Portmann, whose fraudulent loans resulted in losses of more than $10 million.

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Jill Reding, Tonya Ruf, and Katherine J. Frisk, three former employees of now defunct Pierce Commercial Bank, were sentenced to prison terms for their roles in the mortgage fraud scheme that substantially contributed to the demise of the bank.

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Robert Strong, 48, Bothell, Washington, and Anthony Waldron, 49, Kirkland, Washington, were sentenced for engaging in a mortgage fraud scheme that collapsed with the real estate downturn.

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Shawn L. Portmann, 40, a former senior vice president and loan officer at Pierce Commercial Bank, pleaded guilty to a mortgage fraud scheme that resulted in the collapse of the bank, pleaded guilty to conspiracy to make false statements in loan applications and to make false statements to the Department of Housing and Urban Development.

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