Items Tagged with 'Fraud'

ARTICLES

Attention Realtors: You may be victim of massive nationwide advertising scam

Louisiana man accused of defrauding hundreds of real estate agents
Realtors and real estate agents all across the country may be victims of a massive advertising scam that promised local ad placement but instead resulted in the theft of $2 million. A Louisiana man induced Realtors and real estate agents to pay thousands of dollars for advertising on major television networks, but instead of providing the services he promised, the man allegedly used the money for New Orleans Saints season tickets, among other things.
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Co-Owner of mortgage company sent to prison

Fraudulent activity caused millions in losses
Lester Soto pled guilty to a large-scale mortgage fraud scheme. Today, the judge has announced his sentencing, and he is not the only one going to prison. Soto used help from loan officers and even attorneys in his scheme.
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SEC claims brothers targeted elderly with real estate Ponzi scheme

This could be the phoniest scam ever
A pair of brothers promised "guaranteed monthly income" to senior citizens in exchange for investing in real estate, but instead of providing the approximately 30 "elderly and unsophisticated" investors with returns on their investments, Matthew and Daniel Rivera pocketed the investors’ money and used some it to pay back other investors. This is how the SEC claims it went down.
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Reality star Joe Giudice heads to federal prison

Faces deportation to Italy
It's tough being in the spotlight, especially if you're headed to prison. Joe Giudice arrived at Fort Dix Federal Correctional Institution in New Jersey to begin his 41-month sentence for bankruptcy fraud. However, the convicted criminal's troubles are just beginning.
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Former TierOne Bank CEO gets 11 years in federal prison

Charged with fraudulently concealing loan and real estate losses
On Wednesday, U.S. District Judge John Gerrard ordered the former CEO of TierOne Bank to 11 years in prison. Why? Well, as it turns out, what happens in Vegas doesn't always stay in Vegas, especially when it comes to defrauding investors. Here's a breakdown of the criminal activity.
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