Loan Modification

Carl J. Shapiro and Others Agree to $625 Million Civil Forfeiture for Victims of Bernard L. Madoff?s Ponzi Scheme

Posted on December 08, 2010
Irving H. Picard to Serve as Department of Justice Special Master for Returning Forfeited Funds to Victims NEW YORK?Carl J. Shapiro and various related people and entities have agreed to forfeit $625 million to the United States, all of which will be made available to the victims of the fraudulent investment advisory business which was [...

Manhattan U.S. Attorney Charges Lawyer with Multi-Million-Dollar Mortgage Fraud, Money Laundering and Obstruction of Justice

Posted on December 08, 2010
PREET BHARARA, the United States Attorney for the Southern District of New York, and JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced the unsealing of an Indictment yesterday charging LOUIS CHERICO, a lawyer who practiced in New York City and Westchester County, with [...

Springfield Loan Officer Pleads Guilty to Mortgage Fraud

Posted on December 06, 2010
ALEXANDRIA, VA?Alejandro Alquinta, 35, of Springfield, Va., pleaded guilty today to using his position as a loan officer to help carry out a multi-million-dollar mortgage fraud scheme. Neil H. MacBride, United States Attorney for the Eastern District of Virginia, and James W...

Local Mortgage Broker Found Guilty of Bank and Wire Fraud

Posted on December 06, 2010
PORTLAND, OR?Beniamin Lucian Lucescu, 41, of Portland, Oregon, was convicted yesterday of the crimes of bank fraud and wire fraud following a three-day jury trial. Lucescu is scheduled to appear before U.S. District Judge Michael W. Mosman on February 11, 2011 for sentencing on these charges...

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Third Person Charged for Role in Foreclosure Rescue Scheme That Involved $725 Million in Mortgages

Posted on December 05, 2010
Defendant Agrees to Plead Guilty After Co-Schemer Pled Earlier This Week LOS ANGELES?With a new criminal case being filed this morning, federal authorities have now charged three defendants for their roles in a foreclosure rescue scam that promised the owners of hundreds of distressed properties that they could indefinitely postpone foreclosure sales...

Beverly Hills Woman Arrested on Federal Charges of Running Ponzi Scheme That Collected Almost $11 Million

Posted on December 05, 2010
Federal authorities have arrested a Beverly Hills woman on federal wire fraud charges for allegedly running a Ponzi scheme that collected nearly $11 million from scores of Southland victims who were promised huge profits from settlement annuities. Rosi Ray, 56, of Beverly Hills, was arrested at her business yesterday by special agents with the Federal [...

Florida Man Arrested for Investment Scheme That Targeted Phoenix Residents

Posted on December 04, 2010
80-Year-Old Defendant Used Alias and Fraudulent Bank Statements to Carry Out Scheme PHOENIX?Louis Michael Pihakis, 80, of Pensacola, Florida, was charged with conspiracy to commit wire fraud. The federal indictment details the scheme where Pihakis and other co-conspirators engaged in a conspiracy to commit wire fraud by devising a scheme to receive an advance “proof [...

Manassas Woman Indicted for Alleged Mortgage Elimination Scheme

Posted on November 26, 2010
ALEXANDRIA, VA?A federal grand jury today indicted Linda Sadr, 51, of Manassas, Va., for her alleged involvement in a ?mortgage elimination? scheme that caused more than $10 million in losses. Neil H. MacBride, United States Attorney for the Eastern District of Virginia, and James W...

Prominent Monmouth County Real Estate Broker Pleads Guilty to Fraudulently Concealing Assets from Bankruptcy Trustee

Posted on November 26, 2010
TRENTON, NJ?Barry Kantrowitz, 62, of Wayside, N.J., admitted today that he fraudulently concealed $82,100 in cash from a trustee appointed by the United States Bankruptcy Court, U.S. Attorney Paul J. Fishman announced. Kantrowitz entered his guilty plea, to an Information charging him with one count of fraudulent concealment of assets from a United States Bankruptcy [...

Birmingham Man Pleads Guilty to Federal Mail Fraud Associated with Mortgage Fraud Scheme

Posted on November 25, 2010
BIRMINGHAM?A 32-year-old Birmingham man pleaded guilty today in federal court to mail fraud charges connected to a mortgage fraud scheme that totaled more than $1 million, announced U.S. Attorney Joyce White Vance in conjunction with FBI and Housing and Urban Development officials...

Sherman Oaks Woman Faces Charges in Mortgage Fraud Case for Inflating Income in ?Liar Loan? Applications

Posted on November 25, 2010
LOS ANGELES?A federal grand jury has indicted a Sherman Oaks woman for her role in a $2 million mortgage fraud scheme in which she allegedly filed fraudulent loan applications that in some cases falsely claimed she and her husband earned nearly $50,000 per month...

$100 Million Ponzi Scheme Indictment Returned

Posted on November 24, 2010
JACKSONVILLE, FL?United States Attorney Robert E. O’Neill and James Casey, Special Agent in Charge, Federal Bureau of Investigation, announce the unsealing of a 14-count indictment charging Lydia I. Cladek, of St. Augustine, Florida, with wire and mail fraud and conspiracy to commit wire and mail fraud...

Former Controller Pleads Guilty to Bank Fraud

Posted on November 24, 2010
BOSTON, MA?An Acushnet man was convicted today in federal court of participating in an elaborate scheme to defraud the lenders of the former Gitto/Global Corporation. WILLIAM F. DEAKIN, 62, pleaded guilty before U.S. District Judge F. Dennis Saylor to conspiracy and wire fraud...

Bethel Park Man Sentenced to Prison for Mortgage Fraud Scheme

Posted on November 23, 2010
Acting United States Attorney Robert S. Cessar announced today, June 22, 2010, that Andrew McCullough, a resident of Allegheny County, Pennsylvania, has been sentenced in federal court in Pittsburgh to 15 months in prison to be followed by three years’ supervised release on his conviction of wire fraud conspiracy in connection with a mortgage fraud [...

Two Members of Reverse Mortgage Fraud Ring Plead Guilty

Posted on November 23, 2010
Kelsey Torrey Hull, 38, and Jonathan Alfred Kimpson, 27, both of Lithonia, Georgia, pleaded guilty today in federal district court to a conspiracy to defraud reverse mortgage lenders and the Federal Housing Administration (FHA) insurer of the loans. Hull pleaded guilty to an additional bank fraud charge involving mortgage fraud, and Kimpson pleaded to an [...

Leader of $92 Million Mortgage Fraud Conspiracy Pleads Guilty

Posted on November 22, 2010
Thomas Kontogiannis, a New York real estate developer who led a mortgage fraud conspiracy resulting in more than $90 million losses, pleaded guilty to conspiracy to commit bank and wire fraud in federal court in Brooklyn today. Kontogiannis admitted defrauding Washington Mutual Bank (“WAMU”) and DLJ Mortgage Capital, Inc...

Mortgage Fraud Takedown in Attempt to Defraud Lenders out of $5.5 Million

Posted on November 22, 2010
NEWARK, NJ?Nine criminal complaints unsealed today charged 28 individuals with participating in various mortgage fraud scams that collectively sought to defraud lenders out of more than $5.5 million and involved more than 17 New Jersey properties, U.S...

Dallas Businessmen Involved in Mortgage Fraud Scheme Sentenced to Federal Prison

Posted on November 21, 2010
DALLAS?Three Dallas businessmen, Mark Manners, Robert L. Loeb, and Andrew Siebert, who were involved in a massive mortgage fraud scheme that they ran in the area, were sentenced this afternoon by U.S. District Judge Barbara M.G. Lynn, announced James T...

Hundreds Arrested in Mortgage Fraud Sweep

Posted on November 21, 2010
From industry insiders to straw buyers, nearly 500 people have been arrested in a nationwide mortgage fraud takedown that reflects the coordinated efforts of law enforcement to address the growing problem of crime in the housing industry. ?Mortgage fraud ruins lives, destroys families, and devastates whole communities,? Attorney General Eric Holder said this morning at [...

Former Bank Official and Wife Arraigned on Federal Bank Fraud Charges

Posted on November 20, 2010
United States Attorney Kenneth J. Gonzales announced that Anthony Moya, 34, and his wife Eunice Moya, 37, both residents of Santa Fe, were arraigned this morning before United States Magistrate Judge Robert Hayes Scott on a federal indictment charging them with bank fraud...

President of Steve Hall Oil Company Pleads Guilty to $2.8 Million Bank Fraud

Posted on November 20, 2010
OKLAHOMA CITY?Today BURT L. HALL, 50, of Maysville, Oklahoma, pled guilty to defrauding banks through a check kiting scheme, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma. Mr. Hall has been the president of Steve Hall Oil Company for the last 10 years...

Former Doral Senior Executive Sentenced to 60 Months in Prison for Securities Fraud Scheme That Caused Approximately $4 Billion Decline in Shareholder Value

Posted on November 19, 2010
NEW YORK?Mario S. Levis, aka ?Sammy Levis,? was sentenced today to 60 months in prison by U.S. District Judge Thomas P. Griesa, announced Preet Bharara, U.S. Attorney for the Southern District of New York. After a five-week jury trial in March and April 2010, Levis was found guilty on securities and wire fraud charges for [...

Three Owners of Bankrupt Sunrise Equities Accused of Cheating Hundreds of Investors in $43 Million Ponzi and Bank Fraud Scheme

Posted on November 19, 2010
CHICAGO?Three owners of a bankrupt Chicago real estate development firm that purported to adhere to Islamic law in handling investments from individuals in the Chicago area and nationwide actually operated a Ponzi-scheme that defrauded hundreds of victims and three banks of more than $43 million, according to a federal indictment made public today...

Georgia Man Sentenced in Mortgage and Bankruptcy Fraud Related to Loans Funded by Failed Bank

Posted on November 18, 2010
ATLANTA?Mark Anthony McBride, 44, a/k/a ?Charles Conley,? ?Charles Conley, Jr.,? and ?Manuel Evans,? of East Point, Ga., was sentenced today by United States District Court Judge Jack T. Camp on charges of conspiracy to commit bank, mail, wire, and bankruptcy fraud...

Birmingham Man Pleads Guilty to Federal Mail Fraud Associated with Mortgage Fraud Scheme

Posted on November 18, 2010
BIRMINGHAM?A 32-year-old Birmingham man pleaded guilty today in federal court to mail fraud charges connected to a mortgage fraud scheme that totaled more than $1 million, announced U.S. Attorney Joyce White Vance in conjunction with FBI and Housing and Urban Development officials...

Former Fee Attorney of First Southwestern Title Company and Others Indicted in Alleged Multi-Million-Dollar Mortgage Fraud Scheme

Posted on November 17, 2010
HOUSTON?Vincent Wallace Aldridge and Tori Aldridge, both of Fresno, Texas, surrendered themselves to federal authorities as a result of the return of a 19-count indictment arising from an alleged scheme to defraud residential mortgage lenders of more than $3...

President of Real Estate Investment Company Guilty of Mail and Wire Fraud

Posted on November 17, 2010
NEWPORT NEWS, VA?Yvonne L. Robertson, 44, of Hampton, Va., was convicted late Wednesday afternoon by a federal jury of engaging in a mortgage fraud scheme. Neil H. MacBride, United States Attorney for the Eastern District of Virginia, made the announcement...

Union City Real Estate Investor Pleads Guilty to Conspiring to Launder Money to Make Contributions to Public Officials in Exchange for Favors

Posted on November 16, 2010
NEWARK, NJ?A real estate investor and property manager residing in Union City, New Jersey pleaded guilty today to conspiring to launder money in order to make contributions to public officials in Union City in exchange for favors, U.S. Attorney Paul J...

Three Plead Guilty to Million-Dollar Atlantic City Mortgage Fraud

Posted on November 16, 2010
CAMDEN, NJ?Three New York residents pleaded guilty today to their roles in a conspiracy to commit a million-dollar mortgage fraud involving residential properties in Atlantic City, New Jersey, U.S. Attorney Paul J. Fishman announced. Tula Rampersaud, 31, her husband, Sudesh Rampersaud, 31, both from Hollis, New York, and Steven Boswell, 60, of Flushing, New York, [...

Former USA Capital Officer Sentenced for Fraud Conviction

Posted on November 15, 2010
LAS VEGAS?Joseph D. Milanowski, 48, former officer of the real estate development investment company USA Capital, was sentenced today by Chief U.S. District Judge Roger L. Hunt to 12 years in prison and ordered to pay $86.9 million in restitution to over 1,000 victims for his guilty plea to one count of wire fraud, announced [...

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