Two indictments of 13 Oahu residents and one from the state of Washington on mortgage fraud related charges have been unsealed with the arrests of 10 of the 14 defendants. A federal grand jury had returned the indictments on Aug. 11, 2010, but they had remained sealed. One indictment charged 10 defendants in 56 counts of conspiracy, wire fraud, and false statements on loan applications, while the other named four defendants in 33 counts of the same nature. The 14 named defendants are:Read more

Beth Phillips, United States Attorney for the Western District of Missouri, has announced that seven more defendants have been sentenced in federal court for their roles in a $12.6 million mortgage fraud conspiracy that involved 25 upscale residential properties in Lee’s Summit, Mo. and Raymore, Mo.Read more

United States Attorney William N. Nettles announced that Gary Albert Hager of North Myrtle Beach, S.C. has plead guilty in federal court in Florence, S.C. to conspiracy to commit bank fraud, a violation of Title 18, United States Code, Section 1349. United States District Judge Terry L. Wooten accepted the plea and will impose sentence after he has reviewed the presentence report which will be prepared by the U.S. Probation Office.Read more

A former Las Vegas resident has pleaded guilty to conspiracy for his involvement in a Nevada mortgage fraud scheme involving straw buyers and falsified mortgage loan documents, announced Daniel G. Bogden, United States Attorney for the District of Nevada. Brian K. Jackson, currently of Anaheim, Calif., pleaded guilty before U.S. District Judge James C. Mahan to conspiracy to commit mail fraud, wire fraud, and bank fraud and is scheduled for sentencing on Oct. 8, 2010. Jackson was indicted by the Federal Grand Jury in Las Vegas on Oct. 21, 2009.Read more

Attorney General Bill McCollum and the Florida Department of Law Enforcement (FDLE) Commissioner Gerald Bailey have announced the arrest of 10 members of a criminal mortgage fraud and identity theft operation. The group is charged with defrauding numerous financial institutions out of more than $8 million, and using the identities of unsuspecting individuals as part of the conspiracy to obtain the mortgages and properties.Read more

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida; Amos Rojas, Special Agent in Charge, Florida Department of Law Enforcement; John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office; Henry Gutierrez, Postal Inspector in Charge, U.S. Postal Inspection Service; and J.Read more

Five defendants, including a mortgage broker, building inspector, and escrow officer, appeared before U.S. District Judge Michael R. Hogan and pled guilty to a variety of mortgage and loan fraud charges arising out of the collapse of Desert Sun Development (DSD), a company previously headquartered in Bend, Ore. From 2004-2008, DSD built commercial buildings and residential housing throughout Central Oregon. According to the indictments, DSD principals and other defendants caused financial institutions to lose more than $19 million.Read more

A mortgage broker and real estate closing agent in the Twin Cities have been indicted in federal court for allegedly orchestrating a mortgage fraud scheme that resulted in a $2.5 million loss for financial lenders. The indictment, filed in U.S. District Court in St.Read more

A 10-count indictment has been unsealed charging six individuals with conspiracy to commit wire fraud and wire fraud, announced U.S. Attorney Karen P. Hewitt. The defendants are charged with submitting false and fraudulent mortgage loan applications and related documents to banks and other lending institutions, thereby inducing the institutions to make approximately 36 loans totaling approximately $20,800,000.Read more

Edward William Farley of Hoschton, Ga., was sentenced by United States District Judge Timothy C. Batten Sr. to serve 25 years in federal prison on charges of bank fraud and conspiracy involving mortgage fraud, a real estate investment Ponzi scheme with more than 100 victims, a check-kiting scheme and bankruptcy fraud. Walter Julius Hermann of Dunwoody, Ga., was also sentenced by Judge Batten to serve over two years in federal prison on charge of bank fraud involving real estate appraisals he submitted in the Farley mortgage fraud scheme.Read more