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Five Indicted in Foreclosure Rescue and Mortgage Fraud Scheme

 

Scam Involved Lawyers, Mortgage Brokers, and More Than $14.6 Million in Loans 

PHILADELPHIA—A 15-count indictment was filed today against five defendants charged in a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans, announced United States Attorney Michael L. Levy, Special Agent-in-Charge of the FBI Janice K. Fedarcyk, and Pennsylvania Secretary [...]

President of Metropolitan Money Store Sentenced to Over 12 Years in Prison for $37 Million Mortgage Fraud Scheme

Joy Jackson Personally Responsible for Over $16 Million in Losses to Mortgage Lenders; Used Over $800,000 of Fraudulently Obtained Proceeds to Pay for Her Wedding

U.S. District Judge Roger W. Titus sentenced the president of the Metropolitan Money Store, Joy Jackson, age 41, of Fort Washington, Maryland, today to 151 months in [...]

Mortgage Fraud Surge Investigation Nets More Than 100 Individuals Throughout Middle District of Florida

Department of Justice Press Release

TAMPA—United States Attorney A. Brian Albritton today announced the results of a nine-month-long Mortgage Fraud Surge investigation that has resulted in charges against more than 100 defendants and involves allegations concerning more than $400 million in loans procured by fraud and more than 700 properties. U.S. Attorney Albritton is [...]

FBI ‘Operation Bad Deeds’ results in 41 defendants charged in Mortgage Fraud Takedown

Department of Justice Press Release

PREET BHARARA, the United States Attorney for the Southern District of New York, JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation (“FBI”), RICHARD H. NEIMAN, the Superintendent of Banks for New York State, RENE FEBLES, the Special Agent-in-Charge of the [...]

Former Highgate Manor Operator Pleads Guilty in $11 Million Multi-State Mortgage Fraud Scheme

The Office of the United States Attorney for the District of Vermont stated that Benjamin Osmanson, 30, of California and Sarita, Texas, pleaded guilty yesterday to three counts of conspiracy, wire fraud, and money laundering related to his scheme to defraud mortgage lenders by submitting false loan applications in the names of “investors.” Osmanson was [...]

Beazer Homes USA settles criminal charges with the United States for $50 Million

Dennis Norman

By: Dennis Norman

Yesterday Beazer Homes USA reached a $50 million settlement with the United States over charges of mortgage and accounting fraud. 

The Federal Bureau of Investigation in Charlotte issued a press release giving the details of the settlement as follows:

Beazer and its subsidiary, Beazer Mortgage Corporation, admitted to engaging in several fraudulent mortgage origination [...]