Saturday, February 18, 2012

Mortgage fraud

  • An Elk Grove man was sentenced Friday to four years and nine months in prison for his role in an $8 million mortgage fraud scheme. U.S. District Judge Edward Garcia also ordered Gabriel Viramontes, 49, to pay restitution.
  • (Sacramento Bee)
  • Four more Sacramento-area residents face criminal charges as part of the federal governments investigation into one of the regions largest alleged mortgage fraud schemes.
  • (Sacramento Bee)
  • Feb. 17 (Bloomberg) -- Four defendants were found guilty at trial for their part in a mortgage-fraud scheme led by former Dallas Cowboys football player Eugene Lockhart, who pleaded guilty last year. William Randolph Tisdale Jr.
  • (Businessweek)
  • MBIA claimed it has new evidence of "widespread mortgage-origination fraud" at Bank of America's Countrywide unit, hoping to bolster its $1.4 billion lawsuit accusing that unit of fraudulently inducing it to insure risky mortgage-backed securities.
  • (CNBC)
  • BECKLEY, W.Va. (AP) - A Virginia woman faces up to 20 years in prison for mortgage fraud involving a home she formerly owned in West Virginia. U.S. Attorney Booth Goodwin says 60-year-old Janet Damewood of Rocky Gap, W.Va.
  • (NBC12)
  • Citigroup has agreed to pay $158.3 million to settle claims that its mortgage unit fraudulently misled the government into insuring risky mortgage loans for over six years.
  • (New York Times)
  • A former mayoral candidate in Bartow County was sentenced to federal prison Friday for a mortgage fraud scheme involving kickback, arson, luxury vehicles and a private airplane, authorities said. H.
  • (Atlanta Journal Constitution)
  • A former vice president and co-operator of Coral Mortgage Bankers Corp.'s University City office was sentenced to 30 months in prison and ordered to pay $1.
  • (The Business Journal)
  • GRAND RAPIDS — Kevin Grady Sr. today was found guilty in U.S. District Court on all counts of wire and bank fraud, and of lying to authorities as they investigated a complicated 2005 mortgage-lending scheme.
  • (
  • The risk for property valuation fraud rose nearly 8 percent for this fourth quarter following a period of decline, according to the Mortgage Fraud Risk Report released by Interthinkx.
  • (

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