Home / Legal

Legal

The Mortgage Compliance Dragnet – May 2017

Fraudsters Convicted of Operating Nationwide Home Mortgage Scam 04/21/2017 02:14 PM EDT ALEXANDRIA, Va. – Three co-conspirators who operated a nationwide, multi-year “home mortgage modification” fraud that scammed hundreds of victims out of at least $10 million were convicted today by a federal jury. “These defendants scammed hundreds of individuals …

Read More »

The Mortgage Compliance Dragnet – April 2017

Long Island Man Sentenced To 15 Years In Prison For Defrauding Homeowners In Loan Modification Scheme Date Published:  March 7, 2017 BROOKLYN, NY – Earlier today, David Gotterup was sentenced at the federal courthouse in Brooklyn, New York, to 15 years in prison for leading a loan modification scheme that …

Read More »

Queens Man Convicted For Defrauding Financial Institutions

BROOKLYN, N.Y. – James Bayfield, a self-described mortgage specialist, was convicted late yesterday by a federal jury in Brooklyn on all four counts charging bank fraud and conspiracy to commit wire fraud and bank fraud for his role in defrauding mortgage lending institutions and large financial institutions, including Amtrust Bank …

Read More »

Former Newspaper Publisher, Mortgage Broker, Title Agent and Others Charged in $10 Million Mortgage Fraud Scheme

A former newspaper publisher, mortgage broker, title agent and other individuals are charged federally for their participation in a $10 million mortgage fraud scheme. Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and George L. Piro, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami …

Read More »

Rocklin Man Pleads Guilty to Large-Scale Mortgage Fraud Scheme

Department of Justice – U.S. Attorney’s Office – Eastern District of California FOR IMMEDIATE RELEASE Thursday, November 17, 2016 SACRAMENTO, Calif. —Aleksandr Kovalev, 53, of Rocklin, pleaded guilty today to wire fraud involving financial institutions in connection with a mortgage fraud scheme involving the purchase of at least 31 properties, Acting …

Read More »

Alleged Architect of $30 Million Mortgage Relief Fraud Scheme and Four Others Indicted in Conspiracy to Defraud Banks and Homeowners

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Friday, October 21, 2016 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 their alleged participation in a conspiracy …

Read More »

Former Carlisle CEO and Consultant Pleads Guilty in a $36 Million Dollar Fraud Scheme Involving Low-Income Housing Developments

The last of seven defendants pled guilty today to participating in a scheme to defraud the U.S. government of $36 million in funding intended for the construction of low-income housing developments. “The defendant and his co-conspirators stole $36 million dollars in federal monies that would otherwise have been used to …

Read More »

Mortgage Fraud is Alive and Well

by Howard Lax & Melissa Bridges Ten years ago, mortgage fraud was a multi-billion dollar industry on the rise.1 The Great Recession put a temporary crimp in the mortgage fraud industry, but it has come back with the recovery of property values. Because the mortgage lending industry relies on standardized …

Read More »

Bradenton Pastor Convicted of Mortgage Fraud

FOR IMMEDIATE RELEASE – Monday, June 27, 2016 Fort Myers, Florida – United States Attorney A. Lee Bentley, III announces that a federal jury has found Nelson Cristiano Machado, Jr. (50, Bradenton) guilty of three counts of wire fraud. He faces a maximum penalty of 30 years in federal prison on …

Read More »