Last week, a federal grand jury returned several indictments leveling charges at 9 individuals, including a Boca Raton woman. The charges are for mail fraud and bank fraud, all stemming from an alleged mortgage fraud scheme in California. The group charged is accused...
Mortgage Fraud
FBI Bulletin Highlights South Florida Mortgage Fraud
The FBI frequently issues informative bulletins to explain its investigative work. This month it returned to a 2011 mortgage fraud prosecution from the Miami area. The FBI says this case "illustrates" mortgage fraud prosecutions.Federal investigators began pursuing...
Unemployed Man Served As Buyer, Now Sentenced To Prison
A group of mortgage brokerages, property management companies and home improvement businesses were used to find individuals willing to serve as "buyers" in transactions that involved falsified mortgage applications. One of the buyers, an unemployed Connecticut man,...
Loan Officers Plead Guilty In Mortgage Fraud Case
Two men who were working as mortgage loan officers were indicted last April for their roles in recruiting straw buyers for mortgage transactions. The men pleaded guilty this week to one count of conspiracy to commit mortgage fraud through the use of interstate wires....
Florida Still Dead Last In Mortgage Fraud Index
There is no way to rank the frequency with which fraudulent real estate transactions occur. The Mortgage Fraud Index tries to get a sense of how often this is occurring by tracking the volume of criminal cases in a given jurisdiction. A poor placement on the ranking...
Miami Man Sentenced In Mortgage Fraud Case
A Miami loan officer for Great Country Mortgage Bankers pleaded guilty in April to a single count of conspiracy to commit wire fraud. For his role in a larger plan to commit mortgage fraud, he was sentenced to 4 years and 6 months in prison and ordered to pay $9.2...
Florida Man Sentenced In Real Estate Fraud Case
A former loan officer for Washington Mutual was sentenced to 15 months in prison by a federal judge last week. The sentence was for his role in a mortgage fraud scheme based in Southwest Florida. The 66-year-old banker is the fourth person involved in the...
Man sentenced for Florida mortgage fraud scheme
While the troubled economy can certainly be to blame for the multitude of foreclosures and short sales in Florida, at least some of these real estate transactions have involved mortgage fraud. As an example, one mortgage fraud scheme allegedly involved the purchase of...
2 mortgage industry executives plead guilty to fraud
A 38-year-old woman who ran a pair of mortgage title and loan processing companies in Boca Raton pleaded guilty to five counts related to what prosecutors said was a scheme to sell properties in Florida to straw buyers and collect more than the cost of the homes from...
Taylor Bean Mortgage Fraud Cases Continue
On Tuesday, the former chief financial officer of Taylor Bean entered a guilty plea in U.S. District Court. He was charged with conspiracy to commit fraud and making false statements for his role in the roughly $3 billion dollar mortgage fraud scheme. Last year, the...
In The Media:
- In the Media: