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<!--Generated by Squarespace Site Server v5.9.3 (http://www.squarespace.com/) on Sat, 20 Mar 2010 15:26:53 GMT--><feed xmlns="http://www.w3.org/2005/Atom" xmlns:dc="http://purl.org/dc/elements/1.1/"><title>Daily Mortgage Fraud News</title><subtitle>Mortgage Fraud News</subtitle><id>http://www.mortgagefraud.org/journal/</id><link rel="alternate" type="application/xhtml+xml" href="http://www.mortgagefraud.org/journal/"/><link rel="self" type="application/atom+xml" href="http://www.mortgagefraud.org/journal/atom.xml"/><updated>2010-02-17T17:20:07Z</updated><generator uri="http://www.squarespace.com/" version="Squarespace Site Server v5.9.3 (http://www.squarespace.com/)">Squarespace</generator><entry><title>Arrests in Midland, TX real estate fraud allegations.</title><category term="Arrests"/><category term="Mortgage fraud"/><category term="Texas"/><id>http://www.mortgagefraud.org/journal/2010/2/17/arrests-in-midland-tx-real-estate-fraud-allegations.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/17/arrests-in-midland-tx-real-estate-fraud-allegations.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-17T17:04:48Z</published><updated>2010-02-17T17:04:48Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Midland (TX) Police Department&#8217;s White Collar Division is in the final stages of an investigation involving several citizens who were defrauded by people who purchased residences from them under false pretences. Victims found out that the business was not making payments on mortgages as was their original agreement, placing them further into debt - a type of real estate fraud.
]]></summary></entry><entry><title>Two indicted in Missouri mortgage fraud allegations</title><category term="Broker"/><category term="Flipping"/><category term="Indictments"/><category term="Missouri "/><category term="Mortgage fraud"/><category term="Realtor"/><category term="Straw Borrowers"/><id>http://www.mortgagefraud.org/journal/2010/2/16/two-indicted-in-missouri-mortgage-fraud-allegations.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/16/two-indicted-in-missouri-mortgage-fraud-allegations.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-17T01:03:24Z</published><updated>2010-02-17T01:03:24Z</updated><summary type="html" xml:lang="en-US"><![CDATA[According to the indictment, between November 2005 and December 2008, Jeremy Beadle purchased properties and resold them at higher prices based on fraudulent and inflated appraisals to individuals who were qualified for mortgages based on false loan applications. Rebecca Domecillo employed family members at Premier Mortgage Funding and also used family members, including her mother and daughter, as straw parties in real estate transactions she arranged.
]]></summary></entry><entry><title>Pittsburg (PA) couple plead guilty to mortgage fraud</title><category term="Appraiser and/or False Appraisal(s)"/><category term="Broker"/><category term="Mortgage fraud"/><category term="Pennsylvania"/><category term="Preparing False Documents"/><id>http://www.mortgagefraud.org/journal/2010/2/16/pittsburg-pa-couple-plead-guilty-to-mortgage-fraud.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/16/pittsburg-pa-couple-plead-guilty-to-mortgage-fraud.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-16T19:12:50Z</published><updated>2010-02-16T19:12:50Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Rand and Ellani Berger operated All Credit Finance, which was a mortgage broker company that assisted borrowers obtain financing collateralized by real estate.  The couple participated in a conspiracy in which they and other members of the conspiracy submitted fraudulent loan applications on behalf of borrowers that overstated their financial condition, and a series of fraudulent documents that supported those misrepresentations.
]]></summary></entry><entry><title>Trial and Case Updates</title><id>http://www.mortgagefraud.org/journal/2010/2/12/trial-and-case-updates.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/12/trial-and-case-updates.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-12T22:00:11Z</published><updated>2010-02-12T22:00:11Z</updated><content type="html" xml:lang="en-US"><![CDATA[<ul>
<li><a href="http://www.mortgagefraud.org/journal/2008/6/19/two-indicted-in-20-million-detroit-flipping-scheme.html">Mortgage broker and a realtor sentenced in Michigan fraud scheme<br /><br /></a></li>
<li><a href="http://www.mortgagefraud.org/journal/2008/6/19/two-indicted-in-20-million-detroit-flipping-scheme.html">Former loan officer sentenced to 6 yrs for Ohio flipping scheme<br /><br /></a></li>
</ul>
]]></content></entry><entry><title>Mortgage broker and a developer charged in straw buyer scheme</title><category term="Broker"/><category term="California"/><category term="Developer"/><category term="Indictments"/><category term="Mortgage fraud"/><category term="Straw Borrowers"/><id>http://www.mortgagefraud.org/journal/2010/2/12/mortgage-broker-and-a-developer-charged-in-straw-buyer-schem.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/12/mortgage-broker-and-a-developer-charged-in-straw-buyer-schem.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-12T21:45:00Z</published><updated>2010-02-12T21:45:00Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Michael Ohayon and David Papera are accused of recruiting 13 straw buyers who used their good credit scores to obtain more than $19.6 million in fraudulent residential mortgage loans from Washington Mutual Bank, with no intention of making either down payments or mortgage payments on the properties. They allegedly told the straw buyers that an entity controlled by Ohayon and Papera would use the loan proceeds to make the down payments and mortgage payments.
]]></summary></entry><entry><title>Two plead guilty in Oklahoma fraud case</title><category term="Builder Bail-Out"/><category term="Guilty Plea"/><category term="Mortgage fraud"/><category term="Oklahoma"/><id>http://www.mortgagefraud.org/journal/2010/2/11/two-plead-guilty-in-oklahoma-fraud-case.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/11/two-plead-guilty-in-oklahoma-fraud-case.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-12T05:58:34Z</published><updated>2010-02-12T05:58:34Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Gaile Cates and Ayo Dineji Olaniyan admitted that they solicited and induced home buyers by promising to pay down payments, closing costs and provide cash back to the buyers after closing.  In order to get the mortgage lenders to loan funds, the defendants conspired to submit false loan applications, falsely reported the existence and source of down payments and closing costs, and inflated the purchase prices of the homes.
]]></summary></entry><entry><title>Illinois AG files suit against two reverse mortgage brokers</title><category term="Court Cases"/><category term="Illinois"/><category term="Reverse Mortgages"/><id>http://www.mortgagefraud.org/journal/2010/2/11/illinois-ag-files-suit-against-two-reverse-mortgage-brokers.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/11/illinois-ag-files-suit-against-two-reverse-mortgage-brokers.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-12T05:18:25Z</published><updated>2010-02-12T05:18:25Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Madigan today filed a lawsuit in the Circuit Court of Cook County against Woodridge, Ill.-based Hartland Mortgage Centers, Inc. She also filed a suit in the Circuit Court of Sangamon County against Irvine, Calif.-based American Advisors Group, Inc., and its company president, Reza Jahangiri.In each of the lawsuits filed today, Madigan alleges that the defendants targeted seniors to take out Home Equity Conversion Mortgages (HECMs).
]]></summary></entry><entry><title>Trial and Case Updates</title><id>http://www.mortgagefraud.org/journal/2010/2/11/trial-and-case-updates.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/11/trial-and-case-updates.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-12T04:33:50Z</published><updated>2010-02-12T04:33:50Z</updated><content type="html" xml:lang="en-US"><![CDATA[<ul>
<li><a href="http://www.mortgagefraud.org/journal/2009/10/9/two-connecticut-realtors-indicted-in-short-sale-mortgage-fra.html">Sergio Natera pleads guilty to Bridgeport, CT short sale mortgage fraud<br /><br /></a></li>
<li><a href="http://www.mortgagefraud.org/journal/2009/10/28/title-agent-pleads-guilty-to-theft-of-470000-from-lenders-an.html">Former title agent Roseann Wagner sentenced to 20 months<br /><br /></a></li>
<li><a href="http://www.mortgagefraud.org/journal/2008/12/15/boca-raton-man-indicted-in-securities-and-mortgage-fraud-all.html">Donald Platten sentenced in Boca Raton fraud case</a></li>
</ul>
]]></content></entry><entry><title>NH mortgage broker arrested in allegations he defrauded hard of hearing clients</title><category term="Arrests"/><category term="Loan Modification scams"/><category term="Mortgage fraud"/><category term="New Hampshire"/><category term="loan modification fraud"/><id>http://www.mortgagefraud.org/journal/2010/2/10/nh-mortgage-broker-arrested-in-allegations-he-defrauded-hard.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/10/nh-mortgage-broker-arrested-in-allegations-he-defrauded-hard.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-11T01:20:20Z</published><updated>2010-02-11T01:20:20Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Eric W. Eliason is charged with crimes that occurred in connection with his business, Deaf and Hard of Hearing Mortgage Consultants. Complaints allege that the defendant took up-front money to assist hard of hearing victims in completing a loan modification of their home mortgage and that numerous representations were made to the homeowners that the modification was in process, and then that the modification was denied.
]]></summary></entry><entry><title>Trial and Case Updates</title><id>http://www.mortgagefraud.org/journal/2010/2/10/trial-and-case-updates.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/10/trial-and-case-updates.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-10T16:12:07Z</published><updated>2010-02-10T16:12:07Z</updated><content type="html" xml:lang="en-US"><![CDATA[<ul>
<li><a href="http://www.mortgagefraud.org/journal/2009/6/29/oregon-loan-originator-accused-of-fraud-in-his-own-loan-appl.html">West Linn (OR) mortgage broker enters guilty plea in a mortgage fraud</a></li>
</ul>
]]></content></entry><entry><title>Lawyer pleads guilty in $3 million theft of funds from his title company</title><category term="Closing Agent/Attorney"/><category term="Guilty Plea"/><category term="Minnesota"/><category term="Mortgage fraud"/><category term="Theft of Mortgage Proceeds"/><category term="Title and Escrow"/><id>http://www.mortgagefraud.org/journal/2010/2/9/lawyer-pleads-guilty-in-3-million-theft-of-funds-from-his-ti.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/9/lawyer-pleads-guilty-in-3-million-theft-of-funds-from-his-ti.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-09T23:12:52Z</published><updated>2010-02-09T23:12:52Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Jason Eric Fischer admitted that he orchestrated a scheme to divert funds from the escrow account at Real Source Title, a company he jointly owned and managed. The funds should have been held for the sole purpose of closing residential real estate transactions. In truth, however, Fischer regularly withdrew escrow-account money to pay for personal and business expenses as well as fund prior company real estate transactions.
]]></summary></entry><entry><title>Oklahoma City woman sentenced to 97 months for real estate Ponzi scheme</title><category term="Convictions"/><category term="Investment Schemes"/><category term="Mortgage fraud"/><category term="Oklahoma"/><id>http://www.mortgagefraud.org/journal/2010/2/9/oklahoma-city-woman-sentenced-to-97-months-for-real-estate-p.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/9/oklahoma-city-woman-sentenced-to-97-months-for-real-estate-p.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-09T23:03:36Z</published><updated>2010-02-09T23:03:36Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Dawn Quiroga began soliciting investors for a business she called Buyers Solutions Marketing, LLC (BSM). She told investors that BSM was a down-payment-assistance program providing short-term, high interest loans for people to use as down payments and that their investments would fund the down payments in return for returns once the loans were repaid. She knew early on that the scheme would fail and failed to tell the investors while at the same time soliciting more funds.
]]></summary></entry><entry><title>New York man indicted in $2.5 million real estate invesment fraud allegations</title><category term="Indictments"/><category term="Investment Schemes"/><category term="Mortgage fraud"/><category term="New York"/><category term="Real estate investment fraud"/><id>http://www.mortgagefraud.org/journal/2010/2/9/new-york-man-indicted-in-25-million-real-estate-invesment-fr.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/9/new-york-man-indicted-in-25-million-real-estate-invesment-fr.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-09T16:00:25Z</published><updated>2010-02-09T16:00:25Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Adam C. Hochfelder, on charges of defrauding investors in two real estate deals, following an investigation by the Manhattan District Attorney’s Office. Today’s indictment charges Hochfelder with engaging in schemes to steal approximately $2.5 million from investors in his purported acquisition of the Sagamore Hotel on Lake George, and The Peaks Resort and Spa in Telluride, Colorado.
]]></summary></entry><entry><title>Milton (MA) man charged in ID theft/mortgage fraud allegations</title><category term="ID Theft"/><category term="Indictments"/><category term="Massachusetts"/><category term="Mortgage fraud"/><category term="id theft"/><id>http://www.mortgagefraud.org/journal/2010/2/8/milton-ma-man-charged-in-id-theftmortgage-fraud-allegations.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/8/milton-ma-man-charged-in-id-theftmortgage-fraud-allegations.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-08T17:46:40Z</published><updated>2010-02-08T17:46:40Z</updated><summary type="html" xml:lang="en-US"><![CDATA[Augustus C. Okoye, age 47, of 278 Brush Hill Road, Milton, who is charged in an Information with three counts of wire fraud and one count of identity fraud.He is alleged to have used his brother’s name, social security number, and date of birth to obtain mortgage loans for the purchase of three properties in and around the Boston area.
]]></summary></entry><entry><title>Ohio AG files suit against two California loan modification companies</title><category term="Court Cases"/><category term="Foreclosure avoidance scams"/><category term="Mortgage fraud"/><category term="Ohio"/><id>http://www.mortgagefraud.org/journal/2010/2/8/ohio-ag-files-suit-against-two-california-loan-modification.html</id><link rel="alternate" type="text/html" href="http://www.mortgagefraud.org/journal/2010/2/8/ohio-ag-files-suit-against-two-california-loan-modification.html"/><author><name>The Editor - Ian Shuter - ACFE, DMS</name></author><published>2010-02-08T17:15:38Z</published><updated>2010-02-08T17:15:38Z</updated><summary type="html" xml:lang="en-US"><![CDATA[The Ohio Attorney General has filed suits against United Law Group, Inc a California law firm founded by attorney Sean Alan Rutledge, and Guardian Services Group, also based in California, for promising foreclosure rescue services to Ohioans, accepting upfront fees and never delivering.In addition he announced that he had obtained a judgment against Michael Brotherton, who operated Financial Emergency, Inc a rescue business in Greene County, Ohio
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