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Robert D. Grant

Disbarred Chicago Attorney Found Guilty in Federal Mortgage Fraud Scam

Cherry Red Gavel/Credit: Comstock

A federal jury has convicted Lorie Westerfield, a disbarred Chicago lawyer, on fraud charges for her role in facilitating staged real estate transactions involving Chicago homes in 2003. The defendant, Westerfield, was found guilty on three counts of wire fraud and was acquitted on one additional fraud count by a jury after a week-long trial in U.S.Click to continue

$15 Million Mortgage Fraud Scheme Nabs Six in Chicago

Cherry Red Gavel/Credit: Comstock

Six defendants were indicted on federal charges alleging that they participated in a $15 million mortgage fraud scheme involving more than 40 residential properties located in Chicago and south suburbs, federal law enforcement officials have announced.Click to continue

Three in Illinois Accused in $43 Million Muslim Real Estate Fraud Scheme

Black Gavel Pic/Credit: Brand X Pictures

Three owners of a bankrupt Chicago real estate development firm that purported to adhere to Islamic law in handling investments from individuals in the Chicago area and nationwide actually operated a Ponzi scheme that defrauded hundreds of victims and three banks of more than $43 million, according to a federal indictment. The defendants, who owned Sunrise Equities Inc., allegedly fraudulently obtained more than $40 million from more than 300 investors through the sale of promissory notes and fraudulently obtained more than $29 million in loans from three area banks.Click to continue

Seven indicted in $35 million Chicago area mortgage fraud scheme

Black Gavel Pic/Credit: Brand X Pictures

Kenneth Steward from South Holland, Ill. was arrested on federal charges alleging that he and six co-defendants participated in a $35 million mortgage fraud scheme involving more than 120 residential properties located primarily on the city’s south side. Steward, who bought and sold homes and recruited others to act as residential purchasers, and his co-defendants allegedly caused various lenders and financial institutions to lose at least approximately $16 million on mortgage loans that were not repaid by the borrowers or fully recovered through subsequent foreclosure sales.Click to continue