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


Fraudster Gets 5 Years for Selling 3 Homes He Didn't Own

Darryl Cobb, 54, Birmingham, Alabama, has been sentenced to five years in prison for a mortgage fraud scheme in which he sold three houses that he did not own.

U.S. District Judge Sharon Lovelace Blackburn sentenced Cobb on two counts of mail fraud in connection to the scheme. Cobb pleaded guilty to the charges in August 2011. The judge also ordered Cobb to pay restitution of $262,861 and to forfeit $262,861 to the government as proceeds of his illegal activity.


According to Cobb's plea agreement with the government, his scheme was uncovered after the owner of a home in the 7900 block of 4th Avenue South, Birmingham, Alabama, complained to Birmingham police that someone was living in the house, which should have been vacant. The owner had gotten the house in a will from a deceased parent.

The person living in the house said they had bought it from Cobb. Further investigation showed Cobbhad filed false documents in Jefferson County, Alabama, court and with a mortgage company claiming to be the rightful owner of the property, according to the plea agreement. Records searches determined Cobb had conducted two other fraudulent transactions using identical methods to obtain control over two other properties, which he then sold under the false pretense that he was the rightful owner and seller.

Those houses are located in the 2700 block of Wood Drive, Birmingham, Alabama, and the 7500 block of 4th Avenue South, Birmingham, Alabama.

U.S. Attorney Joyce White Vance, FBI Special Agent in Charge Patrick Maley and the inspectors general of the departments of Housing and Urban Development and the Social Security Administration.

The FBI and inspector general's offices for both HUD and the Social Security Administration investigated the case. Assistant U.S. Attorney Patrick Carney prosecuted the case.

"Mortgage fraud is a considerable problem that plagues our communities and damages our country," Vance said. "We will continue to work tirelessly to uncover, investigate and prosecute any individual committing mortgage fraud. We want to send the clear message that if you lie on mortgage documents, you will be held accountable for your fraud."

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 2 commentsDavid Saks • February 01 2012 11:48AM


It seems incredible that a scheme like this worked once, never mind three times. I guess he got caught in the end though.

Posted by Malcolm Johnston, Trenton Real Estate (Century 21 Lanthorn Real Estate LTD., Trenton, Ontario) about 8 years ago

Dude was apparently a pretty gutsy con artist, Malcolm. He earned his prison sentence.

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

This blog does not allow anonymous comments