Arthur James Marshall, Jr., 41, Augusta, Georgia, was sentenced to 69 months in prison and 5 years of supervised release for his mortgage fraud convictions. Marshall was also ordered to pay more than .6 million restitution to his victims.
Evidence presented at sentencing and as previously reported on Mortgage Fraud Blog, revealed that Marshall ...
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Written by admin on July 26th, 2010
Written by admin on July 16th, 2010
Douglas Ballard, 40, Atlanta, Georiga, pleaded guilty in federal district court to one count of conspiracy to commit bank fraud and to receive bribes, and to one count of tax evasion, and Joseph Todd Foster, 42, pleaded guilty to securities fraud. Ballard and Foster, Atlanta, Georgia, were senior Vice Presidents of ...
Written by admin on June 16th, 2010
Ocala.com is reporting that Lee Farkas, 57, former chair of Taylor, Bean & Whittaker was arrested in Ocala, Florida on Tuesday and charged with securities fraud. According to the article, he is being held without bail and the FBI is scheduled to pick him up from the Marion County, Florida jail where ...
Written by admin on June 14th, 2010
After 2 years in bankruptcy court, onetime subprime lender Fremont General has been reorganized and emerges as Signature Group Holdings LLC, which reorganized the company.
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Signature put out a news release today saying a judge confirmed its plan for Fremont. The new company will move from residential lending to commercial credit and other investments.
Signature’s statement:
“The ...
Written by admin on June 11th, 2010
Craig’s List, a great idea for bringing buyers and sellers of products and services together, has also become a magnet for criminals. Rental fraud, a crime in which homes are rented to tenant-victims by non-owners, has in particular become associated with Craig’s List.
In this case, a former NFL fullback and ...
Written by admin on May 27th, 2010
KANSAS CITY, MO—Beth Phillips, United States Attorney for the Western District of Missouri, announced today that two more defendants have pleaded guilty in federal court to charges related to mortgage fraud schemes, including a $12.6 million conspiracy that involved 25 upscale residential properties in Lee’s Summit, Missouri and Raymore, Missouri ...
Written by admin on May 19th, 2010
SPRINGFIELD, MO—Beth Phillips, United States Attorney for the Western District of Missouri, announced today that three former mortgage brokers were among five co-defendants sentenced in federal court for their roles in a $1.2 million mortgage fraud scheme.
Charles M. Davis, 35, of Rogersville, Mo., was sentenced by U.S. District Judge Gary ...
Written by admin on May 15th, 2010
NEWARK, NJ—An East Stroudsburg, Penn., man pleaded guilty today to a wire fraud charge in connection with the $136 million fraud scheme that bankrupted Pine Brook, N.J.-based U.S. Mortgage Corp. and its subsidiary, CU National Mortgage, LLC, U.S. Attorney Paul J. Fishman announced.
Leroy Hayden, 47, the servicing manager of U.S. ...
Written by admin on May 13th, 2010
JACKSON, MS—Gene A. Bradford, 38, of Ridgeland, was sentenced in federal court yesterday to serve 48 months in federal prison followed by 3 years of supervised release for mortgage fraud, U.S. Attorney Donald R. Burkhalter announced. U.S. District Judge David Bramlette also ordered Bradford to pay restitution in the amount ...
Written by admin on May 7th, 2010
Richard Ghilarducci, the former CEO of Humboldt Creamery, pleaded guilty in federal court in San Francisco to loan fraud, according to the United States Attorney in San Francisco.
U.S. Attorney Joseph P. Russoniello announced that Ghilarducci had admitted to falsifying the yearly financial statements to the creamery from 2005 through 2008 to hide ...
Written by admin on April 30th, 2010
Joseph John Pugliese has been indicted for conspiracy to commit mail fraud along with 17 other individuals who were real estate agents, loan officers or bank employees. He has pleaded not guilty and could be sentenced to 30 years in prison and receive a $1 million fine if he is ...
Written by admin on April 20th, 2010
A Los Angeles firefighter who resigned from the department in December 2009 to avoid being fired has now pleaded no contest to numerous felony counts in a real estate fraud prosecution.
The Los Angeles County district attorney’s office said Bren Lamont Mathews, 43, pleaded no context to six counts of forgery, three counts ...
Written by admin on April 13th, 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 ...
Written by admin on April 10th, 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 $3.7 million in connection with home purchases in the Houston area, United ...
Written by admin on April 3rd, 2010
Bothell’s Robert Ernest Brandt, 42, a former Kirkland attorney and escrow officer, was convicted in U.S. District Court in Seattle April 1 of conspiracy and four counts of wire fraud.
The jury deliberated approximately one day following an eight-day trial. When sentenced by U.S. District Judge Richard A. Jones on ...
Written by admin on March 25th, 2010
John Tran was a manager at a Wells Fargo branch located in Willow Glen. While there, according to the Santa Clara County District Attorney’s office, Tran befriended elderly customers of the bank, then stole their money. Tran has now been arraigned on multiple charges of theft from an elder, ...
Written by admin on March 21st, 2010
A former loan originator and licensed notary was convicted Wednesday in federal court on 30 felony counts of conspiracy, bank fraud, wire, fraud and money laundering offenses, following an investigation by U.S. Immigration and Customs Enforcement (ICE).
William S. Poff, 37, of Marshall, Mich., was living in Washington state when he ...
Written by admin on March 15th, 2010
Trent Edward Wright, 38, of Cumming, Ga., was sentenced today by U.S. District Judge Timothy C. Batten, Sr. to serve one year, nine months in federal prison on a mail fraud charge involving a mortgage fraud scheme which victimized lenders and title insurance companies.
Acting U.S. Attorney Sally ...
