Home Builder News

Seven defendants indicted in $49.6M mortgage fraud scam

With the downturn in the housing market, mortgage fraud victimizes homeowners who pay upfront fees to scam artists. The homeowners think. and we expect to see many more defendants charged with.

Seven Indicted for $3 million mortgage fraud conspiracy Written by Brandon McMillan – brandon@turlockcitynews.com Praveen Singh, 36, a bail bonds agent of Modesto, (pictured) and six other defendants were indicted for a mortgage fraud.

A federal jury Monday convicted a real estate professional in a $20 million mortgage. commit wire fraud and seven counts of wire fraud affecting financial institution Washington Mutual. Prosecutors.

The second alleged scam, involving Lakhany and defendants The Credit Shop, LLC, fidelity legal services LLC, and Titanium Realty, Inc., typically charged consumers between $795 and $1,595 for a so-called “forensic loan audit.”

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They were among 41 people charged with engaging in mortgage fraud scams that defrauded lenders out of more than $64 million in home mortgage loans. Of the 10 other defendants, one was expected to.

In what’s been called the first federal indictment filed as part of a newly formed Utah Mortgage Fraud. defendants took place in 2006. So we evaluated property taxes starting from Jan. 1, 2007,

Mike Carter. Federal agents say they have dismantled the largest mortgage-fraud conspiracy in state history by indicting seven people on charges they bilked banks and other financial institutions out of $48 million, pocketing more than $9 million to fund lavish lifestyles.

Below is a partial press release from the United States Attorney’s Office for the Western District of New York: BUFFALO, N.Y. – U.S. Attorney James P. Kennedy, Jr. has announced an indictment for mortgage fraud that charges the defendants with obtaining over of $167,591,000 of loans related to seven residential apartment complexes located in New [.]

CHICAGO-Three partners in a failed North Shore development project, a title company executive, and a loan officer were charged in a federal indictment unsealed yesterday with engaging in a $15.7 million residential mortgage and construction loan fraud scheme to help finance the failed mixed-use commercial development known as the Center of.

The Federal Bureau of Investigation found that suspicious activity reports related to mortgage fraud jumped to nearly 47,000 in fiscal year 2007, a seven-fold increase over the previous four years.

Guyana-born attorney Cheddi Goberdhan on January 10 pleaded guilty in Manhattan Federal Court to taking part in a US$23M mortgage fraud scheme. He was the

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