>>the criminals will be celebrating a jolly good christmas<<
Actually, we are seeing a mounting wave of mortgage fraud investigations in the USA. Here's a local case that was announced today...
Grand jury indicts 9 for mortgage fraud
adn.com
Anchorage Daily News
Published: December 17, 2007
Last Modified: December 17, 2007 at 12:51 PM
A federal grand jury has indicted nine people and an Anchorage company in what prosecutors describe as Alaska's largest mortgage fraud case ever.
U.S. Attorney Nelson Cohen said today that the charges reflect a widespread, three-year scheme to defraud 13 banks and home-loan mortgage companies. The alleged fraud encompassed 57 loans, netting more than $1.7 million in profits and more than $1 million in losses so far to the financial institutions, Cohen said.
The 64-count indictment names the following as defendants:
Lance Lockard, 34, currently of Florida. Lockard was a real estate investor through Overlooked Properties and a licensed real estate agent in Alaska. He allegedly masterminded the scheme.
Gary Paterna, 62, of Anchorage, Lockard's father-in-law. He is described as a real estate investor.
Charles Carlson, 74, an appraiser from Anchorage.
Holli Stroud, 30, a mortgage loan closer from Chugiak. She worked for Land Title Co., Stewart Title and Alyeska Title Co.
Jonathan Ruf, 33, of Anchorage. He was a remodeler and builder.
Keith Facer, 41, of Anchorage, a real estate agent.
Don Murray, 35, of Anchorage. He was a real estate agent and he allegedly acted as an investor and buyer of properties from Lockard.
Cerise Sanders, 31, of Anchorage. She was a loan originator for Alaska State Mortgage Co. Inc.
Susan McCready, 41, of Anchorage, owner of Alaska State Mortgage.
Alaska State Mortgage Co. Inc.
The alleged scheme used purchasers who weren't the real buyers, falsified down payments, inflated appraisals, false title documents that concealed the lack of down payments, and false loan applications, Cohen said. |
