Mortgage News

An Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Charles Smallins, d/b/a/ Maximum Mortgage Services and MPS Lending, Stone Mountain, GA, has became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence Charles Smallins, d/b/a/ Maximum Mortgage Services and MPS Lending, engaged in mortgage broker/lending activities without a license or under an applicable …

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Original post by default@goarticles.com (Chris Borthwick)

Mary Reagan, 41, Alpharetta, Georgia, was sentenced to serve almost 5 years in federal prison for her role in a multi-million dollar mortgage fraud scheme. Reagan pleaded guilty in July 2008 shortly before she was to go to trial, and agreed to assist the government in the prosecution of the scheme.

Reagan was sentenced to 4 years, 9 months in federal prison, to be followed by 5 years of supervised release. …

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Original post by default@goarticles.com (Daniel Bruckner)

Adriene Newby-Allen, 40, Alpharetta, Georgia, was sentenced to serve more than 11 years in federal prison for her role in a multi-million dollar mortgage fraud scheme. Newby-Allen pleaded guilty in July 2008 shortly before trial.

Newby-Allen was sentenced to 135 months in federal prison to be followed by 5 years of supervised release, and ordered to pay $5,278,703 in restitution.

According to the information presented in court: From mid-2004 …

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Original post by default@goarticles.com (Morgan Kennedy)

Joseph Sterling Jetton, 61, Woodstock, Georgia, was sentenced by United States District Judge Beverly B. Martin on charges of conspiracy, bank fraud, wire fraud, and money laundering related to a multi-million dollar mortgage fraud scheme.

Jetton was sentenced to 14 years in federal prison to be followed by 5 years of supervised release, and ordered to pay $11,194,300 in restitution. Jetton was convicted by a jury on November 26, 2007, after …

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Original post by default@goarticles.com (Jack Albert)

Fulton County District Attorney Paul L. Howard, Jr. joined forces with Atlanta Police Chief Richard Pennington on September 15, 2008, to announce the indictment of a dozen defendants in an elaborate mortgage fraud scheme centered in Atlanta, Georgia‘s West End.  Five defendants are already arrested and in custody while the others remain at-large. The defendants are allegedly accused of buying and selling nine homes using inflated appraisals to more than double actual value.  According to …

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Original post by default@goarticles.com (Gemma Stanbury)

Suren Agadzhanov, 42, Atlanta, Georgia, was sentenced to 3 years, 10 months in federal prison to be followed by 5 years of supervised release for his role in fraudulently applying for work visas for over 70 aliens and for using the proceeds from his visa fraud scheme to engage in mortgage fraud. Several of Agadzhanov’s mortgage fraud conspirators were also sentenced to lesser terms in prison.

According to Nahmias and the information …

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Original post by default@goarticles.com (David Moore)

Anthony G. Christou, 57, Dunwoody, Georgia, was sentenced to over 9 years in federal prison by United States District Judge William S. Duffey on charges of wire fraud and money laundering arising from a multi-million dollar investment fraud scheme.

As previously reported by Mortgage Fraud Blog, Christou was convicted by a jury in federal district court following a five day trial on charges of wire fraud and money laundering relating …

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Original post by default@goarticles.com (Mark Bennett)

Riley Graham, a/k/a “Riley Williams,” 42, Detroit, Michigan, was sentenced by United States District Judge Thomas W. Thrash to 10 years in federal prison for his participation in a mortgage fraud and money laundering scheme that targeted the Atlanta, Georgia metro housing market in 2001 through 2002.

Graham was sentenced to 10 years in prison to be followed by 3 years of supervised release, and ordered to pay restitution in …

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Original post by default@goarticles.com (Mark Bennett)

In a metro Atlanta case taken down with arrests, the alleged mortgage fraud scheme resulted in the financial gutting of a $3 million condo complex in DeKalb County, Georgia.

As previously reported by Mortgage Fraud Blog, Dossey Richards, 36, Atlanta, Georgia, Lovie Hobbs, a/k/a Lovie Hobbs Hagwood, 47, Lithonia, Georgia, Montra McKenzie, 29, Atlanta, Georgia, Cyrus Davis, 42, Atlanta, Georgia, Marcus Vickers, 35, Ellenwood, Georgia, …

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

Dossey Richards, 36, Atlanta, Georgia, Lovie Hobbs, a/k/a Lovie Hobbs Hagwood, 47, Lithonia, Georgia, Montra McKenzie, 29, Atlanta, Georgia, Cyrus Davis, 42, Atlanta, Georgia, Marcus Vickers, 35, Ellenwood, Georgia, Rayshuan Harmon, 27, East Point, Georgia, and Michelle Davila, 35, Atlanta, Georgia, have been arrested on a federal criminal complaint related to a mortgage fraud scheme.

According to United States Attorney David E. Nahmias and the information …

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Original post by default@goarticles.com (Michael Sterios)