David Saks: VIRGINIA FORECLOSURE RESCUE SWINDLER SENT TO PRISON FOR 54 MONTHS

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

VIRGINIA FORECLOSURE RESCUE SWINDLER SENT TO PRISON FOR 54 MONTHS

Foreclosure Rescuer Sent to Prison for Mortgage Fraud

Kathleen Harps, 51, Chesapeake, Virginia, was sentenced in Norfolk, Virginia, federal court to 54 months in prison for operating a foreclosure rescue mortgage fraud scheme. Chief United States District Judge Rebecca Beach Smith imposed the sentence.  Harps previously pled guilty on August 23, 2011.

According to court documents, during 2006 Harps owned and operated the now defunct Hampton Roads businesses, New Beginnings Group, LLC, and IMAK Group, LLC, which specialized in "foreclosure rescue."  Through these businesses, Harps and others solicited homeowners in financial distress and facing foreclosure, to agree to sell their homes to Harps or straw buyers working with her.  Harps promised the homeowners that, during a one year period after the sale, they could remain in their homes without having to pay the mortgage, while simultaneously putting their financial affairs back in order, so that they could buy back their homes at the end of the year.  This, however, failed to occur. 

Instead, court records show that Harps and her straw buyers made assorted false statements to fraudulently obtain mortgage loans, upon which they later defaulted

As a result, foreclosures soon followed and the homeowners lost both their homes and substantial sums of homeowner equity, which was siphoned out of the closing transactions and paid to Harps' businesses.

Neil H. MacBride, United States Attorney for the Eastern District of Virginia, made the announcement.

This case was investigated by the Federal Bureau of Investigation.  Assistant United States Attorney Robert J. Krask is prosecuting the case on behalf of the United States.

Courtesy Mortgage Fraud Blog




David Saks



Time&Temp Memphis

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

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May God bless you.

Comment balloon 2 commentsDavid Saks • February 01 2012 11:27AM

Comments

We appreciate you posting these blogs.  Maybe will discourage others and make clients aware of issues.

Posted by Edward & Celia Maddox, EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD (The Celtic Connection Realty) almost 8 years ago

I sincerely hope that it does, Solutions.

Posted by David Saks ((retired)) almost 8 years ago

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