David Saks: Real Estate Fraud Report for July 30, 2014

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

Real Estate Fraud Report for July 30, 2014


real estate fraud: Couple Sent to Prison for Defrauding Mortgage Lenders of $3 Million + - 07/30/14 08:54 AM
Bergen County Couple Sentenced to Prison for Defrauding Mortgage Lenders of More Than $3 Million
NEWARK, NJ—A husband and wife from Bergen County, New Jersey, were both sentenced today to prison for lying about their employment, income, and other financial information in order to fraudulently obtain millions in mortgages, U.S. Attorney Paul J. Fishman announced.
Linda Yarleque, 44, was sentenced to 24 months in prison and her husband,
Fabio Moreno Vargas, 47, was sentenced to 18 months in prison.
They were previously convicted by a federal jury of one count each of bank fraud and conspiracy to commit … (0 comments)

real estate fraud: 7 Sent to Federal Prison in Multi-Million-Dollar Mortgage Fraud Scheme - 07/30/14 08:48 AM
Seven Sentenced to Federal Prison in Multi-Million-Dollar Mortgage Fraud Scheme
HOUSTON—The final two defendants charged for their roles in a multi-million dollar mortgage fraud scheme operating in the Houston area have been ordered to prison, announced United States Attorney Kenneth Magidson.
(2 comments)

real estate fraud: Lloyds Banking Group Guilty in LIBOR Investigation - $86M Penalty - 07/29/14 10:09 AM
Lloyds Banking Group Admits Wrongdoing in LIBOR Investigation, Agrees to Pay $86 Million Criminal Penalty
WASHINGTON—Lloyds Banking Group plc has entered into an agreement with the Department of Justice to pay an $86 million penalty for manipulation of submissions for the London InterBank Offered Rate (LIBOR), a leading global benchmark interest rate.
Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, Deputy Assistant Attorney General Brent Snyder of the Antitrust Division, and Assistant Director in Charge Valerie Parlave of the FBI’s Washington Field Office made the announcement.
A criminal information will be filed today in U.S. District … (4 comments)

real estate fraud: Dirty Shyster Nailed for Real Estate Fraud & Theft of Client Funds - 07/25/14 04:08 PM
Local Attorney Pleads Guilty to Multiple Federal Fraud Charges
ST. LOUIS, MO—
 
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real estate fraud: Man Enters Guilty Plea to Conspiracy to Commit Bank Fraud - 07/24/14 05:01 PM
Jamesville Man Enters Guilty Plea to Conspiracy to Commit Bank Fraud
RICHARD S. HARTUNIAN, United States Attorney, Northern District of New York announces that DAVID PIZIO (58, of Jamesville, NY) entered a guilty plea in U.S. District Court to the felony offense of conspiracy to commit bank fraud. The defendant is facing a statutory maximum of 30 years’ imprisonment and a maximum fine of $1,000,000.00. PIZIO is scheduled to be sentenced on December 5, 2014, before the Honorable David N. Hurd in Utica, NY.
During the plea hearing on July 24, 2014, PIZIO admitted he was one of the owners … (4 comments)

real estate fraud: Conspirator Sent to Prison for $1.5 Million in Mortgage Fraud Losses - 07/24/14 04:56 PM
Conspirator Sentenced to Prison for $1.5 Million in Mortgage Fraud Losses
Five Co-Conspirators Have Pleaded Guilty BALTIMORE, MD—U.S. District Judge James K. Bredar sentenced Demetrius Peete, age 46, of Manassas, Virginia, to a year and a day in prison followed by three years of supervised release for conspiring to commit wire fraud in connection with a mortgage fraud scheme which resulted in losses attributable to Peete of approximately $1.5 million. Judge Bredar also ordered Peete to pay restitution of $394,908 to the victims and to forfeit $1.5 million.
The sentence was announced by United States Attorney for the District of Maryland … (2 comments)

real estate fraud: Man Sentenced to Federal Prison for Endeavoring to Influence a Juror - 07/24/14 04:50 PM
Rochester Hills Man Sentenced to Federal Prison
Marcus Little, 51, of Rochester Hills, was sentenced to 34 months in federal prison United States Attorney Barbara L. McQuade announced today. Little who was convicted in September 2013 of Endeavoring to Influence a Juror and Making a False Statement to a Federal Agent, was sentenced by United States District Judge Patrick Duggan.
The evidence presented during the trial showed that Little was present at a fraud trial in May 2011 as an observer.
The trial which was held in Ann Arbor, Michigan involved three defendants who were charged with defrauding financial institutions … (0 comments)

real estate fraud: St. Louis-Area Man Pleads Guilty to Fraud Charges - 07/24/14 03:04 PM
St. Louis-Area Man Pleads Guilty to Fraud Charges
ST. LOUIS, MO—
Ronald L. Roberts
pled guilty today to charges of mail and wire fraud in connection with his obtaining more than a million dollars from lenders in what he now admits was a loan fraud scheme.
According to court documents, Roberts solicited personal loans for a fictitious real estate transaction involving property in or around Poplar Bluff, Missouri, which Roberts claimed he owned and planned to sell to Wal-Mart.
In some instances, Roberts claimed that the funds were needed to buy out the interests of family members, including his half-brother, … (0 comments)

real estate fraud: Three Indicted for Federal Program Fraud - 07/24/14 02:56 PM
Three Indicted for Federal Program Fraud
JACKSON, MS—
Linda Harvey-Irvin, 62, of Jackson,
Donald Walton, 51, of Vicksburg, and
Markuntala Croom, 45, of Columbia, Mississippi
have been indicted by a federal grand jury for conspiring to embezzle money from the Mississippi Gulf Coast Community Action Agency (“GCCAA”), an organization that receives more than $10,000 in federal funding each year, announced U.S. Attorney Gregory K. Davis and Acting FBI Special Agent in Charge Johnnie Sharp.
Harvey-Irvin, the former Director of the GCCAA and Director of the associated Head Start Program, is charged in one indictment with Donald Walton, owner … (0 comments)

real estate fraud: Man Gets Eight Years In Prison for Construction Fraud - 07/24/14 02:51 PM
Missoula Man Gets Eight Years for Bakken Construction Fraud
MISSOULA—
Jonathan Lee Oliver, a 41-year-old Missoula resident,
was sentenced to 100 months in prison for diverting money he received from customers in eastern Montana, North Dakota, and other places, and using the money to buy himself a house, several vehicles, two jet skis, a luxury motor home, a diamond engagement ring, and various other items.
On February 25, 2014, Oliver pleaded guilty to wire fraud, money laundering and structuring. In an Offer of Proof filed by Assistant U.S. Timothy J. Racicot, the government told the court that in the Fall … (0 comments)

real estate fraud: Two Men Indicted in Multi-Million-Dollar Mortgage Fraud Scheme - 07/23/14 03:27 PM
Two Men Indicted in Multi-Million-Dollar Mortgage Fraud Scheme
Defendants Allegedly Part of Larger Fraud Against Banks and Lenders Using Washington, D.C.-Area Real Estate WASHINGTON—
Edward Dacy, 76, of West Melbourne, Fla., and
A. Conrad Austin, 49, of Bowie, Md.,
have been indicted on conspiracy, bank fraud, and other federal charges stemming from a multi-million-dollar mortgage fraud scheme in which they are accused of assisting their co-conspirators to defraud banks and mortgage lenders through the purchase of residential real estate in the District of Columbia and Maryland.
The indictment, unsealed today in the U.S. District Court for the District of … (0 comments)

real estate fraud: Mortgage Fraud Blog for July 23, 2014 - 07/23/14 12:47 PM
    Mortgage Fraud Blog sends me an update email once per week. The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright 2004-2014 Rachel M. Dollar … (2 comments)

real estate fraud: Four Arrested Including RE Attorney On $500k Bank Fraud Charges - 07/22/14 04:04 PM
Four Arrested on Bank Fraud and Conspiracy Charges
Defendants Allegedly Defrauded Bank of America of More Than $500,000 by “Flipping” Property to Catholic All-Girls School for Nearly $1 Million An indictment was unsealed earlier today charging individuals with bank fraud and conspiracy arising from a scheme to take advantage of plans by an all-girls high school in Hempstead, New York, to expand its campus and build an athletic field for students.
The defendants, two couples, including a real estate attorney and the officer of a real property corporation, were arrested earlier today by special agents of the Federal Bureau of Investigation … (4 comments)

real estate fraud: Former B of A Employee Took Bribes to Approve Short Sales - 30mo Prison - 07/22/14 12:47 PM
Former Bank of America Employee Sentenced to 30 Months in Federal Prison for Taking Bribes to Approve Artificially Low-Price Short Sales
LOS ANGELES—A former Bank of America employee was sentenced this morning to 30 months in federal prison for
taking more than $1.2 million in bribes to approve artificially low-price short sales
of properties on which the bank held mortgages.
Kevin Lauricella, 29, of Thousand Oaks,
was sentenced by United States District Judge Otis D. Wright II.
In addition to the 2½-year prison term, Judge Wright ordered Lauricella to pay $5.7 million restitution to Bank of America and … (0 comments)

real estate fraud: Real Estate Fraud Report for July 22, 2014 - 07/22/14 10:05 AM
click this red button.
 
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real estate fraud: Successful Realtor Sentenced to 10 Years for Bank Fraud - 07/20/14 11:31 AM
courtesy: Jim Gibbs
(4 comments)

real estate fraud: Former Employee of Timeshare Firm Sentenced to Three Years in Prison - 07/20/14 07:06 AM
Former Employee of Timeshare Consulting Firm Sentenced to Three Years in Prison in Fraud Conspiracy
CAMDEN, NJ—A former employee of The Vacation Ownership Group LLC, was sentenced today to 36 months in prison and ordered to pay more than $3 million in restitution for conspiring to defraud owners of timeshare properties, U.S. Attorney Paul J. Fishman announced.
Eric Reilly, 34, of Galloway, New Jersey, previously pleaded guilty to an information charging him with one count of conspiracy to commit mail and wire fraud.
Reilly entered his guilty plea before U.S. District Judge Noel L. Hillman, who also imposed the sentence … (0 comments)

real estate fraud: Real Estate Fraud Report for July 17, 2014 - 07/17/14 11:49 AM
 
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real estate fraud: Mortgage Fraud Blog for July 17, 2014 - 07/17/14 11:45 AM
  Mortgage Fraud Blog sends me an update email once per week.   The Mortgage Fraud Blog website is updated every business day and you can always get the latest news by visiting www.mortgagefraudblog.com. Copyright 2004-2014 Rachel M. Dollar … (0 comments)

real estate fraud: Dirty Florida Mortgage Corporation President Pleads Guilty - 07/16/14 02:41 PM
Mortgage Lender Pleads Guilty in Multi-Million-Dollar Mortgage Fraud Scheme
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, George L. Piro, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, and Drew J. Breakspear, Commissioner, Florida Office of Financial Regulation, announce that
Karl Oreste, 56, of Miramar,
pled guilty today before U.S. District Judge Robert N. Scola, Jr., to one count of conspiracy to commit wire fraud affecting a financial institution, in violation of Title 18, United States Code, Section 1349.
Sentencing has been scheduled for November 14, 2014 at 8:30 a.m. At … (6 comments)

   

 

 

 




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Comment balloon 0 commentsDavid Saks • July 30 2014 09:05AM

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