David Saks: July 2012

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

FBI INFORMANT CHARGED WITH MORTGAGE FRAUD

FBI Informant Charged with Mortgage Fraud

Paul R. Tomko, 39, Cleveland, Ohio, a former paid cooperator for a federal law enforcement agency, is the subject of an eight-count indictment for mortgage and student aid fraud.

Tomko was charged with one count of conspiracy to commit wire fraud and two counts of wire fraud in connection with a mortgage fraud scheme, one count of student aid fraud and four counts of making false statements to the Probation Department for the United States District Court for the Northern District of Ohio.

As previously reported by Mortgage Fraud Blog, Tomko pleaded guilty in 2009 to charges related to a mortgage fraud scheme and was sentenced to three years probation in the United States District Court for the Northern District of Ohio, in Case No.1:09CR29, according to the indictment.

The indictment charges that thereafter, Tomko made false statements to the Probation Department during the course of the preparation of his Pre-Sentence Report (PSR), a report containing personal, financial, and other information designed to assist the court in sentencing. He also made false statements to the Probation Department after he was sentenced.

In 2007, Tomko had signed a paid cooperation agreement with a federal law enforcement agency wherein Tomko was to take full responsibility and make full disclosure of his own mortgage fraud-related violations and assist that agency in other mortgage fraud investigations. The indictment charges that Tomko was paid approximately $19,500 in 2007 and $7,500 in 2008 by that agency under their agreement. Tomko concealed this income from the Probation Department and also falsely stated that the law enforcement agency had approved Tomko operating a mortgage business (The Mortgage House) from his residence.

In the conspiracy and wire fraud charges, it is alleged that Tomko, through his company, OKMOT ("Tomko" backwards) Real Estate Company, recruited his housekeeper to apply for fraudulent mortgage loans for four properties between 2006 through 2007. Tomko falsely inflated the income and assets of his housekeeper in order for her to qualify for these loans, according to the indictment.

Once the loans closed, Tomko fraudulently received approximately $100,000 of the proceeds by filing mechanics liens for work not performed and directing funds to himself and/or companies he owned and controlled, as well as to others not charged in this conspiracy.

The indictment further alleges that Tomko concealed income he received as a cooperator from a federal law enforcement agency, in order to fraudulently obtain student aid and grants from the United States Department of Education.

Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, announced the charges.

An indictment is only a charge and is not evidence of guilt. A defendant is entitled to a fair trial in which it will be the government's burden to prove guilt beyond a reasonable doubt. If convicted, the defendant's sentence will be determined by the Court after review of factors unique to this case, including the defendant's prior criminal record, if any, the defendant's role in the offense and the characteristics of the violation. In all cases, the sentence will not exceed the statutory maximum and in most cases it will be less than the maximum.

The case is being prosecuted by Assistant U.S. Attorney Christian H. Stickan, following investigation by agents of the FBI, Cleveland Office and The Office of the Inspector General for the United States Department of Education.

source: Mortgage Fraud Blog




David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 2 commentsDavid Saks • July 03 2012 10:21PM
FBI INFORMANT CHARGED WITH MORTGAGE FRAUD
share
FBI Informant Charged with Mortgage Fraud Paul R. Tomko 39, Cleveland, Ohio, a former paid cooperator for a federal law enforcement agency, is the subject of an eight-count indictment for mortgage and student aid fraud. … more
Real Estate Practice : Lesson 1730
share
#1730 When we consider the right to control or use property or real estate, and to freely dispose of the property as we see to it at will or through a deed, these rights are incorporated into… more
Real Estate Practice : Lesson 1729
share
#1729 When we describe something as unique it's considered to be scarce Think of dissimilar and anything marked by dissimilarity. True or false Take your time… more
Real Estate Practice : Lesson 1728
share
#1728 If a tenant farmer decides to build a hen house and a building for his tractor, who do these buildings belong to Take you time. The solution is posted below the wildlife… more
Real Estate Practice : Lesson 1727
share
#1727 If the buildings were blown to smithereens, vaporized, bombed, imploded or torn to pieces and the land is still there, what example has been established by recognizing that… more
Real Estate Practice : Lesson 1726
share
#1726 If a landowner has posted a "no trespassing" or "no hunting" sign on his or her property, what stick in the bundle of legal rights is this person exercising… more
Real Estate Practice : Lesson 1725
share
#1725 When we consider the methoda of annexation, adaptation and the type of agreement, these are considered the legal tests for determining whether or not an item is land or real… more
Real Estate Practice : Lesson 1724
share
#1724 If a property owner doesn't want to deal with the day to day task of managing an apartment complex or any other form of rental property the owner can hire a developer. … more
Real Estate Practice : Lesson 1723
share
#1723 Appraisal, financing, property management, and real estate developement are all specializations directly linked to state and governmental finance policies. Is this… more
Real Estate Practice : Lesson 1722
share
#1722 When the population of a town suddenly increases demand for housing will start to decrease and so will real estate prices. Is this true or false Take your time. The… more