Monique Le Nguyen sentenced

Monique Le Nguyen, aka Monique Dzung Le, 60, Milpitas, California, a licensed real estate agent, was sentenced by United States District Judge Lawrence J. O'Neill to 20 months in federal prison for conspiring to commit mail fraud in connection with the financing and acquisition of five residential properties in Fresno and Mendocino Counties, California, that were later used for the indoor cultivation of large quantities of marijuana. Nguyen was also ordered to pay restitution to the lenders, which suffered actual losses of $678,224.32 as a result of post-sale foreclosures on the Fresno County properties.

Florida-licensed mortgage lender sentenced to 10 years in prison

Peter James Porcelli, II, 57, Pinellas County, Florida, was sentenced by U.S. District Judge Susan Bucklew to 10 years in federal prison for mail fraud. As part of Porcelli's sentence, the Court entered a money judgment for $1.8 million, an amount equal to proceeds from the fraud. Porcelli had pleaded guilty on April 15, 2010.

According to court documents, Porcelli was a Florida-licensed mortgage lender with his company, Silverstone Lending. Through court lists, Porcelli found people whose homes were falling into foreclosure. Posing as "Peter James," a "Relief Coordinator" for the "nonprofit" Safe Harbour Foundation, Porcelli mailed the homeowners flyers about Safe Harbour. The flyers made it appear that Safe Harbour was there to save the homeowners in their hour of need. When homeowners responded to the flyers, however, "Peter James" referred them to Peter Porcelli at Silverstone Lending, who lent them high-fee, highinterest, short-term balloon payment loans. The fees for Porcelli's loans averaged approximately 60% of the total amount of each loan, and the interest on the loans was as high as 260.18% APR. The loans generally came due in six months.

Many victims lost their homes when they could not repay Porcelli's loans, including one victim who became homeless as a result of the offense.

Florida man receives almost 16 years behind bars for mortgage fraud

Peter Bakowski, 59, Tampa, Florida, the mastermind behind a $20 million mortgage fraud related Ponzi scheme, was sentenced to 188 months (15 years, 8 months) in federal prison and ordered to pay $16.1 million in restitution.

According to court documents, Bakowski was a licensed mortgage broker at the time he perpetrated his scheme, misusing his credentials to sell the same mortgage to multiple victims. In order to keep the Ponzi scheme going Bakowski would pay returns to the preceding investors with money from new investors. More than 30 victims were affected, including investors and institutions, and more than 150 properties involved. Many of the investors were elderly.

68 years jail time for real estate fraud

Kathy Chen, 49, Westminster, California, a real estate broker, was sentenced to 68 years and six months in state prison for conspiring with her boyfriend and his brother to commit $17.5 million in real estate fraud by purchasing 35 properties using stolen identities and intentionally defaulting on loans in order to steal the loan money.

Chen was found guilty by a jury May 18, 2010, of 136 felony counts including one count of conspiracy, 47 counts of grand theft, one count of attempted grand theft, 37 counts of forgery, 27 counts of recording false documents, 15 counts of identity theft, one count of elder financial exploitation, four counts of forging an official seal, and three counts of filing false state income tax returns. The sentencing enhancements for causing loss in excess of $2.5 million and $100,000 were found true. Chen will face a restitution hearing on Nov. 8, 2010, at 9:00 a.m. in Department W-9, West Justice Center, Westminster.

Condamnari pentru fraude imobiliare in SUA

Un om din Florida condamnat pentru frauda

Diego L. Siman, de 37 de ani, din Miami, Florida, a fost condamnat la 7 ani de inchisoare pentru frauda.

Siman a convins pontentiali investitori ca poate sa ii ajute ca sa cumpere proprietati preluate de banci la preturi sub cele de pe piata, pretinzand ca are informatii confidentiale de la un angajat al bancii. Astfel a fraierit apriximativ 15 persoane carora le-a luat 3,6 milioane de dolari.

Din nefericire pentru investitori excrocul nu avea nici un fel de informatii de la banca si nici proprietarii caselor nu erau in incapacitate de plata.

Vice presedinte de banca a cauzat o paguba de 5,5 milioane de dolari
Fostul vice-presedinte de la Elmwood Park Bank din metropola Chicago a pledat vinovat pentru acuzatiile de frauda care i s-au adus, prin care banca la care lucra a pierdut 5,5 milioane de dolari. Acesta a facut modificari la cel putin 100 de imprumuturi bancare la un numar de 50 de clienti cauzand prejudiciul amintit.
Acesta a alterat documentele astfel incat sa para ca respectivi clienti erau la zi cu plata ratelor, impiedicand astfel banca sa poata lua masurile legale de colectare a fondurilor de la clienti.

Gonsiewski, in varsta de 56 de ani, din Wood Dale, a pledat vinovat pentru unul din capetele de acuzare urmand ca sentinta sa fie data in 3 decembrie, 2010.

Acesta risca sa ia 30 de ani de inchisoare si 1 milion de dolari amenda. Tinand cont de varsta si faptul ca a cooperat cu autoritatile judiciare, acesta poate sa primeasca pana la 6 ani jumate de inchisoare si obligativitatea de a restitui suma pagubita.

JOHN R. THOMPSON pus sub acuzare pentru frauda bancara

Un avocat georgian pe nume JOHN R. THOMPSON a fost gasit vinovat de catre un grup de jurati, pentru fraude cu imprumuturi bancare.

In 2007, THOMPSON, impreuna cu alti doi complici si-au vandut intre ei, in mod fraudulos o proprietate imobiliara. Acestia au falsificat actele care le-au folosit pentru a lua imprumutul de la Bank of America, in valoare de peste 400,000 de dolari.

THOMPSON si complici lui au impartit intre ei banii iar imediat dupa ce au vandut proprietatea n-au mai platit ratele la banca.
Acesta se pare ca a mai comis impruna cu complici sai si alte fraude intre 2005 si 2008.

Two Convicted of Mortgage Fraud Crimes in Florida

Mayelin Salas, 36,Miami Springs, Florida and Lucy Segurola, 51, Miami, Florida, have been convicted for their participation in a mortgage fraud scheme that resulted in approximately $21 million in fraudulent loans. Salas and Segurola were found guilty of conspiracy to commit mail and wire fraud. Salas was also found guilty of mail fraud.

According to the evidence presented at trial, Salas was an employee of State Mortgage Lending, a mortgage lending company in Doral, Florida which was owned and operated by Magile Cruz. Cruz previously pled guilty and was sentenced in January 2009 to 120 months' imprisonment for her participation in this scheme. Cruz's other companies included Star Lending Mortgage, Sherley Title Services, Doral Title Services, and Professional Title Express, all in Miami-Dade County, Florida.

The defendants face a maximum term of imprisonment of twenty years as well as fines and mandatory restitution. Sentencing has been scheduled for October 22, 2010.

Two Plead Guilty to Mortgage Fraud Charges in Minnesota

Beau Wesley Gensmer, 28, and Christopher Glenn Kennedy, 31, two Prior Lake, Minnesota, men have pleaded guilty in federal court in Minneapolis for their roles in a scheme that defrauded mortgage lenders out of more than $2.5 million by causing them to make loans based on false information. Appearing before United States District Court Judge David S. Doty, Gensmer pleaded guilty to one count of wire fraud and one count of money laundering in connection to that crime. Kennedy pleaded guilty to the same charges on August 6, 2010. Gensmer and Kennedy were indicted on April 21, 2010. A third co-defendant pleaded guilty earlier in the case.
For their crimes, the defendants face a potential maximum penalty of 20 years in federal prison on the wire fraud charge and 10 years on the money laundering charge. Judge Doty will determine their sentences at a future hearing, yet to be scheduled.

New York President of Mortgage Brokerage Admits Fraud

David Ramnauth, 54, Levittown, New York, the former President of GuyAmerican Funding Corp., a Queens, New York, mortgage brokerage firm, pled guilty in Manhattan federal court to conspiracy to commit bank and wire fraud. Ramnauth was charged in a Superseding Indictment along with eight other defendants for their participation in a scheme that defrauded banks out of more than $23 million in home mortgage loans.
Ramnauth faces a maximum penalty of 30 years in prison. He will also be required to forfeit the proceeds of his offenses. Peggy Persaud, Orette Killikelly, and Elton Lord previously pled guilty. Defendants Rafick Baksh and Mahamood Hussain remain at large.


Missouri Woman Sent to Prison for Mortgage fraud
Emma Jean Holmes, 52, Kansas City, Missouri, has been sentenced to 12 months and one day in federal prison on mortgage fraud charges.

Holmes was tried in U.S. District Court in Kansas City, Kansas, and found guilty March 5, 2010, on one count of conspiracy to commit mortgage fraud, one count of mail fraud and one count of money laundering. Co-defendant Wildor Washington, Sr., was tried and found guilty February 26, 2010, on the same counts.

7 Sentenced for Mortgage Fraud Conspiracy

Seven defendants have been sentenced in federal court for their roles in a $12.6 million mortgage fraud conspiracy that involved 25 upscale residential properties in Lee's Summit, Missouri, and Raymore, Missouri.

Stefan M. Guerra, 31, Lee's Summit, Mo., Jerome Shade Howard, 41, Anaheim, Calif., Michael Conrad Smith, 49, Lancaster, Calif., and Gerald D. Williams, 49, and his wife, Judith E. Williams, 49, both of Bunkie, La., were sentenced in separate hearings by U.S. Chief District Judge Fernando J. Gaitan. James F. Simpson, 41, Lee's Summit, and Cheryl Ann Romero, 52, Santa Fe Springs, Calif., were sentenced on Thursday, July 22, 2010.

Howard was sentenced to three years in federal prison without parole, and ordered to pay $5,945,996 in restitution and to forfeit $900,731 to the government. Guerra was sentenced to one year and one day in federal prison without parole, and ordered to pay $2,425,787 in restitution. Smith was sentenced to five years of probation, including six months of home detention and 4,000 hours of community service, and ordered to pay $640,289 in restitution. Gerald Williams was sentenced to five years of probation, including six months of home detention and 2,000 hours of community service, and ordered to pay $238,008 in restitution. Judith Williams was sentenced to five years of probation, including four months of home detention and 100 hours of community service, and ordered to pay $238,008 in restitution.

Simpson was sentenced to one year and one day in federal prison without parole, and ordered to pay $495,578 in restitution. Romero was sentenced to five years of probation, including six months of home detention and 4,000 hours of community service, and ordered to pay $488,102 in restitution.

They are among 18 defendants who have pleaded guilty in connection with a conspiracy to defraud mortgage lenders from June 2005 to May 2007. Eleven co-defendants have now been sentenced.

Former NFL Player Sentenced on Mortgage Fraud Charges

Arthur James Marshall, Jr., 41, Augusta, Georgia, was sentenced to 69 months in prison and 5 years of supervised release for his mortgage fraud convictions. Marshall was also ordered to pay more than $3.6 million restitution to his victims.

Evidence presented at sentencing and as previously reported on Mortgage Fraud Blog, revealed that Marshall falsified sales contracts, personal finance records and other documents as part of his mortgage fraud scheme. The victims of Marshall's scheme included banks, a family who never got a property title from Marshall after paying him $100,000 for a home, and members of the American Legion.