Mortgage News

Anthony Matthews, 38, Chicago, Illinois, who owned and controlled Express Mortgage, located at Wabash Street and Western Avenue in Chicago, was charged with one count of wire fraud in a criminal information. Between 2003 and 2006, Matthews allegedly schemed to fraudulently obtain more than $1.1 million in mortgage loan proceeds from various banks and lending companies, which ended up losing approximately $400,000 because the loans were not repaid and the lenders were unable …

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Original post by default@goarticles.com (Jemma Tipping)

Anthony Matthews, 38, Chicago, Illinois, who owned and controlled Express Mortgage, located at Wabash Street and Western Avenue in Chicago, was charged with one count of wire fraud in a criminal information. Between 2003 and 2006, Matthews allegedly schemed to fraudulently obtain more than $1.1 million in mortgage loan proceeds from various banks and lending companies, which ended up losing approximately $400,000 because the loans were not repaid and the lenders were unable …

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Original post by default@goarticles.com (Jemma Tipping)

Sixty-seven defendants, including mortgage brokers, loan officers, realtors, home builders and five attorneys, are facing federal charges relating to mortgage fraud, identity theft and bankruptcy fraud in a dozen new cases in Chicago, federal law enforcement officials announced today as part of Operation Malicious Mortgage, a nationwide initiative against fraudulent homelending schemes. Together, the cases involve more than $170 million in fraudulently-obtained home mortgages issued by various lenders and secured by several hundred residential properties in …

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Original post by default@goarticles.com (Jimmy Chuang)

Nicole Malane, 30, Birmingham, Michigan, was charged in a criminal complaint and affidavit for allegedly committed violations of the federal wire and mail statutes in the purchase of a residential property located at 7471 Jackson Park, Bloomfield Hills, Michigan. The fraudulent activity included artificially increasing the sale price of a single family home from $385,000 to $630,000. Melane took title to the property via false income documents stating that she earned $14,000 per …

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Original post by default@goarticles.com (Yanie Sulzerino)

Juan Carlos Gonzalez, 50, Jacksonville, Florida, was indicted on charges of conspiracy to commit wire fraud and bank fraud. The maximum penalties Gonzalez faces if convicted are 30 years of imprisonment and a fine of $1,000,000. Gonzalez was arrested and made his initial appearance in federal court. He was released on $10,000 bond and required to stay at home with electronic monitoring.

According to the indictment, during 2004 and 2005, …

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Original post by default@goarticles.com (Yanie Sulzerino)

From March 1 to June 18, 2008, Operation Cash Back in Arizona resulted in six mortgage fraud cases in which 36 defendants were charged. 30 arrests were made in mortgage fraud-related cases in the Tucson and Phoenix areas. The FBI estimates that approximately $100 million in losses were inflicted by the mortgage fraud schemes employed in these cases. In Arizona, Operation Cash Back represents the collaborative efforts of the U.S. Attorney’s Office, FBI, Internal Revenue Service-Criminal …

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Original post by default@goarticles.com (Yanie Sulzerino)

Six individuals have been charged in a 10-count indictment with conspiracy to commit wire and mail fraud, wire fraud, conspiracy to commit money laundering and engaging in financial transactions with criminally derived funds in relation to a mortgage fraud scheme. The defendants were charged as a result of a national initiative unveiled by federal authorities, “Operation Malicious Mortgage”. The six charged in this district represent a portion of the 60 arrests made in mortgage fraud-related cases …

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Original post by default@goarticles.com (Bryan Burbank)

U.S. Attorney Dunn Lampton announced that during “Operation Malicious Mortgage” from March 1, 2008 through June 18, 2008, eleven (11) individuals have been charged, pleaded guilty, or have been sentenced in federal court in connection with mortgage loan fraud schemes investigated by the Jackson Financial Crimes Task Force.

As previously reported by Mortgage Fraud Blog, David Kennedy and LaVonne Hamilton, two former mortgage brokers in Jackson, Mississippi, were each sentenced …

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Original post by default@goarticles.com (Brian Garvin)

The FBI and Department of Justice formulated Operation Malicious Mortgage (OMM) in response to the rapidly escalating mortgage fraud crime problem. This initiative was a multi-agency, coordinated national mortgage fraud effort. From March 1, to June 18, 2008, Operation Malicious Mortgage resulted in 144 mortgage fraud cases in which 406 defendants were charged, convicted or sentenced On June 18, 2008, sixty (60) arrests, nationally, were conducted. The FBI estimates that approximately $1 Billion in losses were …

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Original post by default@goarticles.com (Colin Kidd)

Eric Rulack Farrington, Jr., 55, Irving, Texas, President of Prestige Capital Corporation, which did business as Farrington Mortgage Group, Farco Construction, Inc., and EFC Investments, LLC, which also did business as EFC Management Company. Farrington was also the principal of Eric Farrington Seminars, Inc.;
Regis Lamont Williams, 43, Dallas, Texas, a Texas certified real estate appraiser who did business as Executive Certified Appraisal;

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Original post by default@goarticles.com (jlaricci)