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Mortgage Fraud Blog
Central clearinghouse for information on recent mortgage fraud information, fraud schemes and indictments.
Updated: 4 hours 12 min ago
Police Officer Arrested for Mortgage Fraud
Brian Ragauckas, 36, Secaucus, New Jersey, a police officer, was arrested based on a Complaint charging him with bank fraud in connection with a $529,777 mortgage loan that he obtained through false representations to the former Countrywide Bank FSB.
According to the Complaint, Ragauckas and his wife own property located in Secaucus, New Jersey which they purchased in June 2000 and which is subject to a thirty-year mortgage for $513,700. In …
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5 Charged in 327 Count Mortgage Fraud Indictment
Martina Duran (a.k.a. Gladys Arroyo), 57, Briarwood, Queens, New York, Roger Arias, 36, Ridgewood, Queens, New York, Aldo Bussi, 41, Levittown, Long Island, New York, Ramon Gaston, 29, New York, and Percy Randall, 54, Westbury, Long Island, New York, have been charged in a 327-count indictment in connection with an approximately $2 million mortgage fraud scheme in which stolen identities were allegedly used to buy and sell three properties in …
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Fourth Defendant Pleads Guilty in Mortgage Fraud Scheme
Karen Hewitt, 51, a resident of New York, pled guilty to her role in the scheme in which Michael Cassadei and others used fraudulent loan applications, appraisals, settlement statements, and other false statements and documents to induce the former First Union National Bank of Delaware to finance the sale of Capital Region, New York residential properties that they did not own yet to third parties in amounts well in excess of …
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Guilty Plea in Connection With Real Estate Fraud Scheme
Timothy Lynn Beliveau, 42, Mound, Minnesota, man pleaded guilty in federal court to charges related to a real estate fraud scheme that defrauded vulnerable homeowners and induced investors to purchase distressed real estate from those homeowners at inflated prices. Timothy Lynn Beliveau pled guilty to one count of engaging in a monetary transaction in criminally derived property and one count of willful failure to account for and pay taxes. Beliveau was indicted on October …
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4 Charged With Purchasing Homes Using Straw Buyers
Sushama Devi Lohia, 71, Newport Beach, California, Supriti Soni, 49, Corona Del Mar, California, Suniti Shah, 48, Newport Beach, California, and Dinesh Valjeebhai Shah, 60, Newport Beach, California, have been charged with conspiracy to commit over $16 million in real estate fraud by forging documents and purchasing homes using "straw buyers."
Sushama Devi Lohia is charged with 13 felony counts of conspiracy to commit a crime, …
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Man Sentenced for Stealing More Than $400,000 From Lenders
Micah John Beaumia, 30, Alexandria, Minnesota, was sentenced in federal court for concealing more than $400,000 in payments to himself and others from mortgage loan proceeds. Micah John Beaumia was sentenced to 36 months in prison on one count of wire fraud and one count of money laundering. Beaumia was indicted on May 11, 2009, and pled guilty on October 20, 2009.
In his plea agreement and as previously
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Another Metropolitan Money Store Player Indicted
Rolando Alonzo Cousins, a/k/a "Junior", 31, Bowie, Maryland, has been indicted for conspiracy to commit mail fraud, mail fraud, and money laundering, in connection with a massive mortgage fraud scheme which promised to help homeowners facing foreclosure keep their homes and repair their damaged credit, but left them homeless and with no equity. The indictment was returned on March 8, 2010. Cousins was arrested and is scheduled to have an initial appearance in U.S. District …
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Fraudster Sentenced for Submitting False Information to Lenders
Kara E. Robinson- Franks a/k/a Kara E. Garret, a Kansas resident, was sentenced for wire fraud and money laundering in connection to her role in a mortgage fraud scheme.
As previously reported on Mortgage Fraud Blog and per court documents, Robinson - Franks held herself out to be a real estate agent and vice president of Operations and Human Resources for Heritage …
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Father & Daughter Team Charged With Mortgage Fraud
Guadalupe Ramirez and Augustine Ramirez, Bakersfield, California, have been charged in connection with a mortgage fraud scheme.
Per court documents, Guadalupe arranged for his daughter to purchase properties, where, Augustine received kickbacks ranging from $65,000 to $100,000 from the sellers that were not disclosed to the lenders, thus deceiving the lenders as to the actual purchase price of the properties.
The charges were filed the …
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Participant in 2 Different Mortgage Fraud Schemes Pleads Guilty
John Polosky, 40, McMurray Pennsylvania, pleaded guilty in federal court to charges of wire fraud conspiracy and filing false tax returns.
In connection with the guilty plea and according to court documents, Polosky participated in two different mortgage fraud conspiracies, one in the Western District of Pennsylvania and one in the Eastern District of Pennsylvania. In both conspiracies, Polosky acted …
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Charges Filed in Mortgage Fraud Scheme
Gerald James Greenfield, 64, Bloomington, Minnesota, was charged with one count of conspiracy to commit mortgage fraud through the use of wires, four counts of mortgage fraud by means of interstate wire, one count of conspiracy to commit concealment money laundering, and one count of engaging in a monetary transaction with criminally derived property. Nicholas Ryan Delon Smith, 30, Prior Lake, Minnesota, was charged with one count of conspiracy to commit mortgage fraud through the use …
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Man Sentenced for Falsifying Loan Applications
John A. Bui, 46, of San Jose, California was sentenced to 41 months in federal prison and ordered to pay $3,500,000 in forfeiture as a result of his convictions for conspiring to commit wire fraud, destruction of records in a federal investigation, and witness tampering.
As previously reported on Mortgage Fraud Blog and per court information, Mr. Bui pleaded guilty to these charges on August 21, 2009. In pleading …
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Former Fugitive Sentenced for Mortgage Fraud
Shawn Green, 43, Columbia, Maryland, was sentenced to 151 months in prison followed by five years of supervised release for conspiring to distribute 330 pounds of cocaine. Green was also ordered to forfeit over $914,000 in cash, property purchased in the mortgage fraud scheme, three luxury vehicles and a pickup truck, four bank accounts and an investment account.
According to Green's plea agreement, at least five individuals identified Shawn …
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Woman Uses Stolen Money to Purchase Residence
Kellie Hampton Bick, 42, Midland, Texas, faces federal prison after pleading guilty to one count of bank fraud and one count of aggravated identity theft.
In documents filed with the court, Bick admitted that starting in February 2009 she began writing checks to herself on bank accounts held by her employer, North Waterfront Corporation (NWC) and/or its president/owner. Usually the checks were made out to herself, but …
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Owner of Mortgage Brokerage Company Sentenced for Mortgage Fraud
Frederick Earle Deen, III, 30, a Minnesota resident and part owner of Legacy Lending, a Minnesota mortgage brokerage company, was sentenced in federal court for bilking lenders out of more than $500,000 through mortgage fraud. Deen was sentenced to 24 months in prison on one count of wire fraud and one count of tax evasion in connection to this crime. Deen was charged via an
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2 Mortgage Fraudsters Receive Their Sentence
Danny Flores and Rolando Alfonso, both Florida residents, have been sentenced (Flores, Alfonso) in connection with their participation in a bank fraud scheme that resulted in the approval and disbursement of two fraudulent home equity loans, totaling $1 million. U.S. District Court Judge Allan Gold sentenced each defendant to 45 months' imprisonment, to be followed by 5 years of supervised release. Judge Gold also ordered the payment …
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North Carolina Man Admits Loan Application Fraud
Bryan Noel, 40, Hendersonville, North Carolina, former owner of Certified Estate Planners, Inc., was convicted by a jury of criminal charges that include mail fraud, bank fraud, money laundering, money laundering conspiracy, making a false oath in connection with a bankruptcy proceeding, and making false statements to a bank. The criminal charges were filed in connection with Noel's investment scheme that resulted in losses of millions of dollars of innocent …
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Man Sentenced for Using Fake Power of Attorney to Refi Property
Shih Siang Shawn Liao, 35, Manhattan, New York, an international businessman has been sentenced to three to nine years in state prison for having used a forged power of attorney to unlawfully obtain a mortgage on his mother-in-law's condominium in the Little Neck section of Queens, New York and steal more than $300,000. The condominium had been free and clear of any mortgages prior to the theft.
Liao, who …
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Couple Charged with Fleecing Individuals of Real Estate
Matthew McEntee, 50, and Marina M. Mora, 45, both of Flushing, Queens, have been charged with stealing more than $16 million from a dozen individuals selling real estate and other assets. McEntee held himself out as an attorney, accountant and banker. The defendants are charged with first, second, third and fourth degree grand larceny, second degree criminal possession of stolen property, second-degree criminal possession of a forged instrument and first-degree …
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Man Sentenced in Real Estate Fraud Case
Joseph Little, 48, a California resident, was sentenced to 27 years, four months in prison for helping defraud nearly a dozen victims through a sophisticated real estate fraud scheme.
Prior to jury selection in the trial, defendant Little admitted an allegation that he was out on his own recognizance on another real estate fraud case on which he was pending sentence.
Deputy District Attorney Clay Peters of the Real Estate Fraud Section …
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