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Entries in Mortgage fraud (510)

Monday, May 17, 2010 at 3:22 PM
3:22PM

Title agent, mortgage broker and one other arrested in NJ fraud allegations

DateMonday, May 17, 2010 at 3:22PM

Ania Nowak, 43, Zbigniew Cichy, 41, both of Belvidere, New Jersey, and Kim Salvemini, 55, of Wallington, New Jersey were arrested this morning by Special Agents of the Federal Bureau of Investigation (“FBI”). The defendants are charged by Complaint with conspiring to defraud various mortgage lenders of over $2.7 million by conducting at least five fraudulent real estate transactions involving two residential properties in New Jersey.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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Wednesday, February 17, 2010 at 9:04 AM
9:04AM

Arrests in Midland, TX real estate fraud allegations.

DateWednesday, February 17, 2010 at 9:04AM

Midland (TX) Police Department’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.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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Tuesday, February 16, 2010 at 5:03 PM
5:03PM

Two indicted in Missouri mortgage fraud allegations

DateTuesday, February 16, 2010 at 5:03PM

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.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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11:12AM

Pittsburg (PA) couple plead guilty to mortgage fraud

DateTuesday, February 16, 2010 at 11:12AM

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.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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Friday, February 12, 2010 at 1:45 PM
1:45PM

Mortgage broker and a developer charged in straw buyer scheme

DateFriday, February 12, 2010 at 1:45PM

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.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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Thursday, February 11, 2010 at 9:58 PM
9:58PM

Two plead guilty in Oklahoma fraud case

DateThursday, February 11, 2010 at 9:58PM

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.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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Wednesday, February 10, 2010 at 5:20 PM
5:20PM

NH mortgage broker arrested in allegations he defrauded hard of hearing clients

DateWednesday, February 10, 2010 at 5:20PM

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.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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Tuesday, February 9, 2010 at 3:12 PM
3:12PM

Lawyer pleads guilty in $3 million theft of funds from his title company

DateTuesday, February 9, 2010 at 3:12PM

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.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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The information reproduced here has been obtained from various public sources and has been compiled as a service to those interested in the area of mortgage fraud. The accuracy of the information has not been independently verified and as a result, no negative inferences about individuals referenced in the information or their involvement in any scheme to participate in mortgage fraud should be concluded as a result.