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Mortgage Fraud Blog
Central clearinghouse for information on recent mortgage fraud information, fraud schemes and indictments.
Updated: 4 hours 50 min ago
Connecticut Man Admits Role In Mortgage Fraud Scam
John Jackson, 42, Middletown, Connecticut, pleaded guilty before United States District Judge Christopher F. Droney in Hartford to a one count of conspiring to commit wire fraud stemming from a mortgage fraud scheme.
According to court documents and statements made in court, in 2006, Jackson conspired with a New Haven-based real estate attorney and an East Hartford-based mortgage broker to defraud Mortgage Lender Network USA, Inc., a Florida corporation with offices in Middletown, …
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Foreclosure Rescuers Charged with Fraud
19 criminal complaints and a total of 69 charges were filed against illegal advanced fee "foreclosure rescue" operations accused of defrauding Michigan families of thousands of dollars. The defendants include:
Isaac Modert, DeWitt, Michigan, from Lansing, Michigan's LCN Mortgage - Eight counts False Pretenses ($1,000 or more but less than $20,000), two counts Using a Computer to Commit a Crime, one count witness tampering, one count Non-Sufficient Funds, two counts Credit Services Protection …
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3 Indicted for Defrauding Lenders
Steven J. Kottage, 44, and Genaro R. Hathaway, 46, both of Weston, Connecticut, and Mary Ellen Durso, 53, Milford, Connecticut, were charged in an 11-count indictment with conspiracy and other offenses stemming from the defendants alleged involvement in mortgage fraud.
The indictment alleges that Kottage and Hathaway, who are married, conspired to commit wire fraud relating to a home on Fire Island, New York.
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Mortgage Fraud Defendant Sentenced
Andrew Wolf, Alpharetta, Georgia, a defendant in a large-scale mortgage fraud scam with losses to lenders in excess of $41 million, was been sentenced to prison. As part of his sentence, Wolf was ordered to pay a special assessment of $ 100.00 and serve a prison term of Twenty-Eight (28) months. The Court recommended that the defendant be incarcerated in a facility that is closest to his family in the State of Florida. As previously …
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7 Sentenced for Mortgage Fraud Conspiracy
Seven defendants have been sentenced in federal court for their roles in a $12.6 million mortgage fraud conspiracy that involved 25 upscale residential properties in Lee's Summit, Missouri, and Raymore, Missouri.
Stefan M. Guerra, 31, Lee's Summit, Mo., Jerome Shade Howard, 41, Anaheim, Calif., Michael Conrad Smith, 49, Lancaster, Calif., and Gerald D. Williams, 49, and his wife, Judith E. Williams, 49, both of Bunkie, …
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Cattle Rancher Sentenced for Bank Fraud
Joseph C. Donohue, 70, Greeley, Kan., has been sentenced to six months in federal prison followed by six months of house arrest for bank fraud. The court also ordered Donohue to pay $10 million in restitution.
Donohue pleaded guilty to one count of bank fraud. In his plea, Donohue admitted he provided false information to Lyons State Bank in order to obtain loans for purchasing and feeding cattle. …
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3 Charged in Missouri Straw Buyer Scam
Scott Olson, 44, formerly of St. Louis, Missouri, now residing in Eagle Mountain, Utah; Davena Ridenhour, 48, Kirkwood, MO; and Eric Nelson, 44, Glencoe, MO, have been indicted on money laundering charges involving a scheme to purchase and renovate seven St. Louis, Missouri properties, then sell them to straw buyers.
According to the indictment, in June 2005, Scott Olson, Davena Ridenhour Hagen and Eric …
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Trial Date Set for Texas Man Charged with Mortgage Fraud
Alvin Mark Eiland, 45, Houston, Texas, former owner of Future Mortgage Company Inc., was proceeding to trial earlier this year after pleading not guilty to theft charges from his alleged role in a mortgage fraud scheme. However, on or about May 11, 2010, Eiland's attorney requested to withdraw as his counsel. The court granted counsel's request. Eiland has been appointed new counsel and the trial …
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Former NFL Player Sentenced on Mortgage Fraud Charges
Arthur James Marshall, Jr., 41, Augusta, Georgia, was sentenced to 69 months in prison and 5 years of supervised release for his mortgage fraud convictions. Marshall was also ordered to pay more than $3.6 million restitution to his victims.
Evidence presented at sentencing and as previously reported on Mortgage Fraud Blog, revealed that Marshall falsified sales contracts, personal finance records and other documents as part of his mortgage fraud scheme. The …
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Two Colorado Men Plead Guilty to Mortgage Fraud
Shawn R. Tieskotter, 37, Greenwood Village, Colorado, and Craig D. Patterson, 30, Littleton, Colorado, each pled guilty before U.S. District Court Judge Robert E. Blackburn to one count of mail fraud related to a mortgage fraud scheme. Tieskotter and Patterson were indicted by a federal grand jury in Denver on March 10, 2010. On May 20, 2010, a superseding indictment was filed. Both defendants pled guilty on July 7, …
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Co-Owner and Employee Plead Guilty to Mortgage Fraud
Edward Olimpio, 47, Boonton, New Jersey, and Rachell Fischbein, 28, Hillsdale, New Jersey, the co-owner of Ridgewood, New Jersey mortgage brokerage firm Diversified Financial Group, d/b/a Residential Mortgage Corporation ("Residential Mortgage"), and a former Residential Mortgage employee both pleaded guilty to wire fraud conspiracy in connection with a mortgage fraud scheme.
Olimpio and Fischbein admitting that they conspired with each other and others, including a co-conspirator who during the relevant …
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Attorney Convicted of Mortgage Fraud
John R. Thompson, Emanuel County, Georgia, an attorney, has been convicted of mortgage fraud charges.
According to the evidence presented at trial, Thompson, along with his co conspirators, Brian and Natasha Steptoe sold a piece of property located in Swainsboro, Georgia, in August of 2007 to what is known in real estate terms as a "straw purchaser." Thompson and the Steptoes …
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3 Charged in Mortgage Fraud Conspiracy
Derrick Reuben Smith, Michael Gipson, and Trina Tahir, Oklahoma residents, have been indicted on charges of conspiracy, wire fraud, and money laundering in connection with fraudulent mortgages.
According to the indictment, Smith recruited two individuals to buy two new homes in Edmond, Oklahoma in mid-2006 and early 2007 for $425,000 and $435,000 respectively. The builder of both homes agreed that Tahir's real estate brokerage, …
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7 Indicted in Alleged $35 Million Mortgage Fraud Scheme
Kenneth Steward, 44, South Holland, Illinois, was arrested on federal charges alleging that he and six co-defendants participated in a $35 million mortgage fraud scheme involving more than 120 residential properties located primarily on the city's south side. Steward who bought and sold homes and recruited others to act as residential purchasers, and his co-defendants allegedly caused various lenders and financial institutions to lose at least approximately $16 million on mortgage loans that …
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Woman Indicted for Mortgage Fraud
Shamika M. Coleman, 33, Swansea, Illinois, was indicted for making a false statement on a loan or credit application, making a false statement during a renewal application for federal food stamp benefits, and making a false statement during a renewal for federal housing benefits.
The indictment alleges that Shamika M. Coleman under reported her income and bank deposits when providing her truthful income and asset amounts would have made her ineligible for public assistance. …
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4 Defendants Sentenced in Mortgage Fraud Scheme
Sixto Figueroa, 58, his wife Susy Figueroa, 45, Rolando Herrera, 64, and Manuel Garcia, 41, all of Miami, Florida, were all found guilty of participating in a mortgage fraud scheme that resulted in the issuance of $832,118 in mortgage loans from Wachovia Bank.
According to the evidence produced at trial and as previously reported on Mortgage Fraud Blog, defendants Sixto and
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Fourth Member of Mortgage Fraud Enterprise Sentenced
Darrell Lynn Marriott, 57, Gun Barrel City, Texas, the fourth member of a multi-county mortgage fraud scheme pleaded guilty to a first-degree felony for his role in a multimillion dollar enterprise that defrauded government-backed mortgages. Marriott was sentenced in Navarro County District Court to 28 years in prison for securing the execution of a document by deception. Under the terms of the plea deal, the defendant will now enter an identical plea in Kaufman County, …
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Mortgage Fraud Defendant Sentenced in Federal Court
Jessica Murillo, 33, a New Jersey resident, guilty to wire fraud affecting a financial institution. Murillo faces a maximum penalty of 30 years in federal prison. A sentencing date has been set for October 1, 2010, at 9:00 a.m. before U.S. District Judge Richard A. Lazzara.
According to facts presented at trial and court documents, Murillo purchased a brand new four bedroom, three car garage Tampa, Florida home (with …
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Leader of Straw Buyer Ring Sentenced for Mortgage Fraud
Timothy Reed, 45, Beltsville, Maryland, was sentenced to 51 months in prison followed by five years of supervised release for mail fraud arising from the fraudulent purchase of 25 properties in Maryland, the District of Columbia and Virginia using false mortgage and settlement documents. Reed was also ordered to pay $4,196,967 in restitution.
According to Reed's information and
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Florida Man Charged Making False Statements to Lenders
Stanley Gabart, 29, Miami, Florida, has been charged with mortgage fraud. The defendant surrendered on Thursday, July 8, 2010, and made his initial appearance in West Palm Beach federal court.
The two-count information charges defendant Gabart with conspiracy to commit bank fraud and making false statements on loan applications to Bank of America and JP Morgan Chase Bank, N.A., in connection with the purchase of various properties. If convicted, …
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