mortgage fraud schemes - Articles

Latest Mortgage Fraud Trend: Collusion on the Inside

CNBC By Celia Watson Seupel, Special to CNBC When real estate agent John Lebron opened EZ Investments in Tampa, Fla., he may have already been planning fraud. His very first EZ Investments transaction involved selling a distressed property to his sister, then to his brother-in-law, the kind of "non-arms-length"... Continue Reading »

'Mortgage Fraud Factory' Whirs Down With 10 Arrests

Federal authorities called Crisp & Cole Real Estate a "full-service mortgage fraud factory" at a press conference on Friday when the 56-count indictment was unsealed. Indeed, people will spend years recovering from the financial damage caused by Crisp & Cole Real Estate, whose owners were arrested Thursday on... Continue Reading »

Mortgage Lenders Stung in Alleged Scam

A multimillion-dollar scam by real estate agents and loan officers, in collusion with homebuyers, left mortgage lenders in the dust, authorities say. Two real estate agents and two mortgage loan officers were among nine people indicted for their roles in an alleged $11-million mortgage fraud scheme that involved paying... Continue Reading »

California Real Estate Scammer Pays for Wedding With Investors' Cash

The honeymoon is over for a Long Beach, Calif., man who was sentenced to jail time this week for defrauding investors in a real estate Ponzi scheme. Between 2003 and 2006, Jon Weldon James, 33, defrauded 50 investors, taking more than $33 million via phony investments. Instead of investing in real estate as he promised,... Continue Reading »

Mortgage Fraud Suspects Indicted in California: How Could They Get Away With It?

"Operation Stolen Dreams" lands another alleged mortgage fraud conspirator this week. Nationwide, the feds have stepped up prosecution of mortgage and bank loan fraud. This time, it's a builder in Chico, Calif., who has been indicted for allegedly selling unsold new homes to non-existent or straw buyers, thereby scamming... Continue Reading »

Real Estate Fraud: How to Spot a Scam

Real estate and mortgage fraud cases may be the latest fallout from the recent real estate bubble. Two recent California court cases demonstrate the lengths that white-collar criminals will go to in order to deceive buyers, banks and investors. In Orange County, a former real estate broker stole clients' identities,... Continue Reading »

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