Tag Archives: Mortgage Fraud

Financial Fraud: Patrick Lee Was Indicted For Mortgage Brokers To Prepare False Mortgage Loan Applications

Dual U.S.-Irish Citizen Extradited from Ireland to Face Mortgage Fraud Charges BOSTON – A dual U.S.-Irish citizen was arraigned late yesterday in federal court in Boston on charges of mortgage fraud and identity theft after being extradited from Ireland. It was Ireland’s first extradition to the United States since 2012. Patrick Lee, 44, a dual […]

Mortgage Fraud: Surjit Singh And Rajeshwar Singh Convicted In Four Counts Of False Statements On Loan And Credit Applications

Three Defendants Convicted on All Counts for Mortgage Fraud Scheme Involving 14 Properties THREE DEFENDANTS CONVICTED ON ALL COUNTS FOR MORTGAGE FRAUD SCHEME INVOLVING 14 PROPERTIES SACRAMENTO, Calif. — A federal jury in Sacramento convicted three Northern California residents today of crimes relating to their involvement in a mortgage fraud scheme, U.S. Attorney Phillip A. […]

Mortgage Fraud: Robert Pena Pleaded Guilty in Connection With Defrauding the Government National Mortgage Association – Ginnie Mae

Mortgage Company President Pleads Guilty to Defrauding Ginnie Mae BOSTON – The president and founder of a Falmouth mortgage company pleaded guilty yesterday in federal court in Boston in connection with defrauding the Government National Mortgage Association (Ginnie Mae) out of approximately $2.5 million. Robert Pena, 68, of Falmouth, pleaded guilty to one count of […]

Mortgage Fraud: LAURANCE H. FREED Convicted On Three Counts of Bank Fraud, One Count of Mail Fraud, And Four Counts of Making a False Statement To a Financial Institution

Real Estate Developer Sentenced to Three Years in Federal Prison for Defrauding Banks and the City of Chicago CHICAGO — A federal judge today sentenced a Chicago real estate developer to three years in prison in connection with a fraud scheme related to a $105 million line of credit secured by city and suburban properties, […]

Mortgage Fraud Concept And Protection

Moral infringement and criminal exercises in different enterprises have influenced our economy in the course of recent decades, especially in the saving money, monetary and lodging segments. In this article, we analyze the complex moral and criminal issues encompassing mortgage fraud. Fraud in its most straightforward shape is ponder distortion and trickiness. Fraud in real […]

Financial Fraud: TIMOTHY W. BURKE Sentenced For Defrauding Distressed Homeowners, And Tax Evasion

Man Who Defrauded Dozens of Distressed Connecticut Homeowners Sentenced to 9 Years in Federal Prison Deirdre M. Daly, United States Attorney for the District of Connecticut, announced that TIMOTHY W. BURKE, also known as “Bill Burke,” “William Burke,” “Kerry Saunders,” “Pat Riley,” “Jim Caldwell,” “Jim Saunders,” “Tom Morrisey,” “Jimmy,” “Phil Burke,” “Phil,” “Burt,” “James Burke,” […]

Mortgage Fraud: Tommy Rudy Habibe-Arias Charged With Making False Statements in an Application For a Home Equity Conversion Mortgage Loan

One Individual Charged With Making False Statements In A Reverse Mortgage Loan Application SAN JUAN, P.R – On March 29, 2017, a federal grand jury in the District of Puerto Rico returned a one count indictment charging Tommy Rudy Habibe-Arias with making false statements in an application for a Home Equity Conversion Mortgage loan (commonly […]

Financial Fraud: Hasan Hussain and Ricardo Abreu Charged in a Conspiracy to Defraud Financial Institutions & Mortgage Fraud

Two Indicted in Sweeping Mortgage Fraud Investigations PROVIDENCE, R.I. – A 14-count federal indictment filed in U.S. District Court in Providence charges two individuals, Hasan Hussain, 55, of Princeton, N.J., and Ricardo Abreu, 50, of Cranston, R.I., with allegedly participating in a conspiracy to defraud financial institutions, investors and financially distressed homeowners of at least […]

Mortgage Fraud: Société Générale, S.A. Will Pay Civil Penalty to Resolve Claims Related to Its Activities

Société Générale Agrees To Pay $50 Million Penalty To Settle RMBS Fraud Claims United States Attorney Robert L. Capers announced today that Société Générale, S.A. will pay a $50 million civil penalty to resolve claims related to its activities, which were conducted through several affiliates (together, “SocGen”), in connection with the marketing, sale, and issuance […]

Financial Fraud: Credit Suisse Made False and Irresponsible Representations About Residential Mortgage-Backed Securities

Credit Suisse Agrees to Pay $5.28 Billion in Connection with its Sale of Residential Mortgage-Backed Securities The Justice Department announced today a $5.28 billion settlement with Credit Suisse related to Credit Suisse’s conduct in the packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities (RMBS) between 2005 and 2007.  The resolution announced today requires […]

Mortgage Scam: Ally Financial Inc. Agreed To Pay For 10 Subprime Residential Mortgage-Backed Securities (RMBS)

Ally Financial Agrees to Pay $52 Million to Resolve Investigation into Improper Conduct Related to Issuance of Mortgage-Backed Securities LOS ANGELES – Ally Financial Inc. has agreed to pay the United States $52 million to settle allegations that its subsidiaries acted improperly in relation to 10 subprime residential mortgage-backed securities (RMBS) in 2006 and 2007. […]

Mortgage Fraud: Seven Individuals Pled Guilty to One Count of Conspiracy to Commit Bank Fraud and Wire Fraud

Seven Defendants Plead Guilty to Conspiracy Related to Mortgage Fraud Scheme In two related cases, seven residents of Miami-Dade County pled guilty to conspiracy charges arising from their involvement in a complex mortgage fraud scheme involving two condominium conversion projects in central Florida. Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, […]

Mortgage Fraud: Dorothy, Thomas, Jane And Jamie Matsuba Charged In Mortgage Relief Fraud Scheme

Alleged Architect of $30 Million Mortgage Relief Fraud Scheme and Four Other Los Angeles Residents Indicted in Conspiracy to Defraud Banks and Homeowners WASHINGTON – The alleged architect of a $30 million mortgage relief fraud scheme and four other former employees of a purported mortgage relief company were charged in an indictment unsealed today for […]

Mortgage Fraud: Moses S. Hall indicted On Fraud And Tax Offenses

Disbarred Attorney Indicted in Mortgage Modification Scheme Victims Paid the Attorney Well Over $1 Million, Which He Allegedly Used for Personal Expenses and Never Reported as Income to IRS SANTA ANA, California – A disbarred California attorney was arrested this morning on federal charges of running a mortgage modification scheme that defrauded more than 75 […]

Mortgage Fraud: Alagi Samba Guilty To Conspiracy To Commit Wire Fraud Affecting a Financial Institution

Second Defendant Pleads Guilty In Mortgage Fraud Conspiracy BUFFALO, N.Y.-U.S. Attorney William J. Hochul Jr. announced today that Alagi Samba, 46, of Bronx, NY, pleaded guilty to conspiracy to commit wire fraud affecting a financial institution, before U.S. District Judge Laurence J. Vilardo. The charge carries a maximum penalty of 30 years in prison and […]

Mortgage Fraud: Sam Ames Sentenced In A Conspiracy to Commit Mortgage Fraud

Lansing Man Sentenced In Federal Mortgage Fraud Probe Sam Ames Sent to Prison for Role in Mortgage Fraud Conspiracy  GRAND RAPIDS, MICHIGAN — U.S. Attorney Patrick Miles announced today that Sam Ames, 33, of Charlotte, Michigan was sentenced to eight months in prison for his role in a conspiracy to commit mortgage fraud in connection […]

Financial Fraud: Domonic McCarns with Other 14 Defendants Sentenced to Commit Mail Fraud and Mortgage Fraud

Final Defendant Sentenced to 14 Years in Prison for Nationwide Foreclosure Rescue Scam Over $90 Million in Fraudulent Loans and Hundreds of Homes Stolen from Homeowners SACRAMENTO, Calif. — On Wednesday, September 14, 2016, Domonic McCarns, 41, of Irvine, was sentenced to 14 years in prison by U.S. District Judge Kimberly J. Mueller for conspiracy […]