November 11th, 2016 at 12:08pm
Asima Khan, 35, owner of Financial Independent Services is going to spend 12 days in jail and have to pay $60,387 in restitution to her clients, after being prosecuted by Michigan Attorney General Bill Schuette.
Khan violated Michigan law by collecting upfront money for her services, which were mortgage modifications.
“We see this time and time again, good people who have fallen on difficult times are taken advantage of by an individual who sees nothing but dollar signs,” Schuette said in a statement. “I am pleased to see this case resolved, but I will continue to seek justice and restitution for victims of this type of crime.”
Read the original article in the Detroit News.
October 28th, 2016 at 9:37am
The following people have been indicted in relation to an alleged mortgage relief fraud scam that brought in $30 million, according to a press release by the U.S. Attorney’s Office for the Central District of California.
Chatsworth residents Yun Soon Matsuba, aka Dorothy Matsuba, 65; Thomas Matsuba, 64; Jane Matsuba Garcia, 40; Jamie Matsuba, 31; and Koreatown’s Young Park, 53, have each been charged with one count of conspiracy to commit wire fraud, make false statements and commit identity theft.
The indictment alleges, the defendants ran businesses from 2005-2014 called Ownership Management Service LLC and Trust Holding Service LLC.
While they claimed to help homeowners get out from underwater mortgages by performing short sales, the defendants allegedly required the homeowners to deed properties to trusts they controlled, failed to continue making mortgage payments and submitted fraudulent and false short-sale purchase offers to the banks instead of performing the promised short sales.
October 28th, 2016 at 6:14am
Franklin Marquez, 52, has been sentenced to 4 to 12 years in prison for his involvement in a mortgage fraud scheme. He was convicted on one count of pattern of mortgage lending fraud, a category “B” felony.
Marquez and his co-defendants – Maria Lorena Anzu, Jose Ben Rodriguez and Gilberto Navidad , were alleged to have operated a criminal enterprise in Las Vegas called Majestic Group, LLC. Their pitch to distressed homeowners was that they could sell their homes to Majestic Group at market value and then the company would sell their homes back to them at lower, more affordable prices. The victims were charged upfront fees along with monthly payments.
Read the original article in News3LV.
October 21st, 2016 at 6:40am
Moses S. Hall, 60, a resident of Blackwood, New Jersey, has been arrested on federal charges of operating a mortgage modification scheme that defrauded more than 75 distressed homeowners in Orange County. Hall, who formerly had a law practice in Fullerton before he was disbarred in 2012, is being accused of inducing those homeowner to pay him for over $1.4 million in services that he allegedly never provided. The indictment is for 16 counts of fraud and tax offenses.
Among other claims, the indictment alleges Hall concealed from victims that he was using their money to pay for personal expenses and that he was a previously convicted felon who had served time in state prison in New Jersey prior to being admitted as an attorney in California. He told homeowners in distress to cease making their monthly mortgage payments and instead send the money to him for the purpose of negotiating with lenders. Some later lost their homes to foreclosure.
The charges stem from a probe by IRS Criminal Investigation, U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI), and the U.S. Secret Service. The Office of Chief Trial Counsel for the State Bar of California also provided assistance with the investigation. The case is being prosecuted by Assistant U.S. Attorney Charles E. Pell.
Read the press release on the U.S. Immigration and Customs Enforcement website and the OC Register.
October 13th, 2016 at 9:32am
Nancy Russell Kempis, 64, of Santa Clara, has been sentenced for more than six-months in jail for scamming a family out of their home and defrauding four banks.
The former real estate agent convinced the family to sell her their home at a “dramatically reduced price” in order to avoid foreclosure. She rented them the home and promised to return it. Instead, she secured a number of fraudulent mortgages, sucking all the equity out of the house and defaulting between 2006 and 2009. The home was then lost to foreclosure and the family evicted.
Kempis’ scam cost lenders $750,000.
Kempis eventually fled to New York, went into hiding under the false name Morpheus Daw Pud Ko and helped run a women’s ministry.
“Ms. Kempis scammed hundreds of thousands of dollars and drove a family into homelessness,” Santa Clara County Deputy District Attorney Charles Huang said in a statement.
Read the original article in KRON4.com
September 30th, 2016 at 7:46am
Victims of a Petaluma real estate agent whom prosecutors ripping off at least 100 persons in the Bay Area in an alleged mortgage fraud scam are outraged at the terms of his settlement with state prosecutors.
Miguel Angel Lopez-Soleta, 44, pleaded no contest to felony grand theft and embezzlement from an elderly person through his Rohnert Park business, Mortgage Modifiers, in 2012.
Lopez-Soleta will only serve one year in jail and receive five years of probation.
According to former client Robert Gillis, whose mother lost her Novato home to foreclosure because of Lopez-Soleta, “It’s totally unacceptable. None of the victims agree with it. They are so upset.”
Caroline S. Chen, the deputy attorney general handling the case for Attorney General Kamala D. Harris, did not return a call Thursday seeking comment.
The only good bit of news is that the real estate license of Miguel Angel Lopez-Soleta has been revoked by the California Bureau of Real Estate.
Read the full article in the Press Democrat.
September 2nd, 2016 at 10:47am
Two Orange County men from have been sentenced for their involvement in a mortgage loan scheme that was nationwide
Serj Geutssoyan, aka Anthony Kirk, 32, of Santa Ana, was sentenced to 52 months in prison. His co-defendant Daniel Shiau, aka Scott Decker, 30, of Irvine, received a 58 month sentence.
Along with five other persons who were charged, Geutssoyan and Schiau illegally charged upfront fees of $2,500 to $4,300 to provide loan modifications and debt relief services to homeowners. Over 1,000 homeowners were affected who were duped out of over $3 million.
A third defendant, Aria Maleki, was sentenced to 112 months back in January. The remaining four defendants also pleaded guilty but have not yet been sentenced.
Read the original article in NBC Connecticut.
September 2nd, 2016 at 10:34am
Long Beach pastor Karl Robinson, 52, has pleaded guilty to one count of bankruptcy fraud.
According to the press release by the U.S. Attorney for the Central District of California, Robinson would stall the evictions of homeowners who had been foreclosed on by filing fraudulent documents, including phony bankruptcy petitions. For this, he charged the homeowners almost $3 million.
“This defendant filed scores of fraudulent bankruptcy actions — sometimes on multiple occasions in relation to a single property,” U.S. Attorney Eileen M. Decker said in a statement. “He took advantage of distressed homeowners by stealing identities and lying to them about what he could do for their properties as long as they continued to pay his fees.”
You can read another article about Pastor Robinson’s mortgage fraud in the Long Beach Press Telegram.
August 10th, 2016 at 2:07pm
Bryan D’Antonio, 50, is the last of three co-defendants to confess to a conspiracy to commit mail and wire fraud in a telemarketing scheme that ran from October 2008 and June 2009 and defrauded over 1,500 people out of about $9 million, according to a statement from Eileen Decker, the U.S. Attorney for the Central District of California.
D’Antonio was described by authorities as the owner and operator of the Rodis Law Group, aka America’s Law Group. His fellow defendants Charles Wayne Farris and Ronald Rodis have already pleaded guilty to the same charge.
Prosecutors said Rodis Law Group and America’s Law Group found their victims by placing radio advertisements claiming to negotiate lower-interest rates or principal balances by using their team of attorneys, when only Ronald Rodis was an attorney.
Read the original article in the OC Register. There a number of articles about this case that can be found by searching the California Real Estate Fraud Report.
July 29th, 2016 at 10:56am
Aria Maleki, 33 years old, a Santa Ana resident, has been sentenced to nine years in prison after pleading guilty in a Bridgeport, Connecticut federal court to a mortgage loan modification scheme that defrauded homeowners across the country.
Connecticut U.S. Attorney Deirdre Daly said that Maleki and other persons ran a series of California-based companies that promised home mortgage loan modifications and other debt relief services and charged them upfront fees ranging from approximately $2,500 to $4,300. Charging advance fees is illegal for these services in California.
Read the original article in MortgageOrb.