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


32 Indicted for Ohio Mortgage Scam

Ronald Collins , Jr., 26, Warren, Ohio, Ronald Collins, Sr., 52, Warren, John Kleem, 49, Parma, Ohio, John Lattimore, 40, Cleveland, Ohio, Kevin Smith, 44, Twinsburg, Ohio, Rodney Stevenson, 54, Bedford, Ohio, Gregory Tatum, 50, Cleveland, Chelli Tye, 39, Bedford, Edward Wielgus, 50, Euclid, Ohio, James Abrams, 36, Warrensville Heights, Ohio, Louis Amir, 40, Gates Mills, Ohio, Lisa Aramouni, 46, North Royalton, Ohio, Marcus Bankston, Jr., 39, Solon, Ohio, Lamonta Betts, 40, University Heights, Ohio, Michelle Betts, 40, University Heights, Leslie Bizzelle, 54, Cleveland, Tatiti Chandler, 42, Bedford Heights, Ohio, Byron Curry, 35, Kent, Ohio, Ebony Curry, 31, Kent, Kevin Drake, 48, Streetsboro, Ohio, Robert Dunn, 44, Charlotte, North Carolina, Deirdre Ferguson, 47, Beachwood, Ohio, Jimmy Gates, 54, Cleveland, Cynthia Grant, 51, Cleveland, Raymond Grant, 49, Cleveland, John Herman, 50, North Royalton, Ohio, Angela Jones, 46, Warrensville Heights, Ohio, Fred Lattimore, 69, Cleveland, Rochelle Lattimore, 44, North Randall, Ohio, Lavon Ruderson, 41, Chagrin Falls, Ohio, Vincent Schuttenberg, 41, North Randall, and Daphne Stokes, 46, Cleveland, have been indicted for their roles in an alleged mortgage fraud scheme.

John Lattimore, Greg Tatum and John Kleem were key in this criminal enterprise. They and the other twenty nine (29) defendants were indicted by a Cuyahoga County Grand Jury for engaging in a large criminal enterprise that involved buyers, sellers, mortgage brokers, loan officers, title agents and processors, private investors, and appraisers. Most of those involved in the scheme were employed by others or established their own corporations, either for legitimate purposes or as shell companies to receive and distribute money from the illegal transactions.


The essence of the scheme, involved houses being purchased at Sheriff's sale or other sources for meager amounts and mortgages being taken out on those properties simultaneously with an open-end loan allowing their values to be artificially inflated. Several other properties were owned by relatives of conspirators and the purchases were financed with hard money loans-many of which had fraudulent seller's second mortgages associated with them. Still others were purchased from legitimate sellers not involved in the scheme, orchestrated by parties outside the transaction.

Most of the properties were purchased without any of the buyers' personal money being put forth. Third-party down payment checks were present and can be traced back to sellers involved in the scheme. Many of the title company files contain invoices for rehabilitation work done by one company in particular, when in fact no work had been done to the property to justify the payment. In addition, the appraiser was submitting addendums listing the rehab work that was done after his original appraisal, in order to justify the price for which the property was eventually re-sold.

In addition to the payments made based on fraudulent invoices, most of the buyers were paid for lending their names and credit to the transactions. A few of the houses are still owned by the buyers, but most were abandoned, went into a further state of disrepair and eventually into foreclosure, some selling for less than $10,000.00 after foreclosure. Some buyers were duped into participating in the scheme on the pretense that they would become investors and reap the benefits when they sold the houses after owning them for a few years. Others knowingly participated by buying the properties, never intending to occupy, lease or maintain them. Most of those buyers received payments of several thousand dollars after the properties sold.

With funding from the Ohio Attorney General's Office and the Ohio Organized Crime Investigations Commission, the Task Force was formed in December 2007. The Task Force is comprised of federal, state, and local law enforcement agencies. The director of the Task Force is a Sergeant of the Cuyahoga County Sheriff's Office.

The investigation was led by the Cuyahoga County Prosecutor's Office, Ohio Attorney General's Office, Cuyahoga County Sheriff's Office, Beachwood Police Department, Bureau of Criminal Identification and Investigation (BCI), and the Ohio Organized Crime Investigations Commission (OOCIC).  

Courtesy 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



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 0 commentsDavid Saks • September 28 2011 09:25AM


This blog does not allow anonymous comments