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Items Tagged with 'Fraud'

ARTICLES

Former Dallas Cowboy out of prison after serving 3 years for mortgage fraud

Eugene Lockhart jailed for taking part in $20 million fraud scheme
Ben Lane
A former Dallas Cowboys player is out of federal prison after serving three years for taking part in a $20 million mortgage fraud scheme, which involved at least 10 other people who were also convicted. The scheme saw the group recruit straw buyers who falsified their income documents to obtain loans for inflated prices.
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Mortgage scammer commits fraud from inside jail cell

Alan Tikal stole $5.8 million from homeowners
Ben Lane
A California man will spend the next 24 years in prison for leading a mortgage fraud scheme through which he stole $5.8 million in fees and monthly payments from struggling homeowners.
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S&P settles with SEC for $58 million over bond ratings fraud

First action against one of the big three ratings firms
Sarah Wheeler

“Investors rely on credit rating agencies like Standard & Poor’s to play it straight when rating complex securities like CMBS,” said Andrew J. Ceresney, director of the SEC Enforcement Division. “But Standard & Poor’s elevated its own financial interests above investors by loosening its rating criteria to obtain business and then obscuring these changes from investors."


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Former HUD employee jailed for stealing $843K from government

Loan guarantee specialist sentenced to 26 months in prison
Ben Lane
A former loan guarantee specialist for the U.S. Department of Housing and Urban Development will spend the next two years in prison for stealing $843,000 from the federal government.
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North Miami mayor found guilty of mortgage fraud

Marie Lucie Tondreau now faces up to 30 years in prison
Ben Lane
Marie Lucie Tondreau, the mayor of North Miami, Florida, was found guilty of mortgage fraud, stemming from her part in a scheme that defrauded lenders to the tune of $8 million. Prosecutors said she used her fame to recruit straw buyers.
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St. Louis area mortgage company executive admits fraud

Could face 30 years for check fraud
Trey Garrison
A mortgage company executive in St. Louis is facing 30 years after pleading to floating checks between his business and banks to hide negative balances.
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North Miami mayor on trial for mortgage fraud

Marie Lucie Tondreau contends she was conned by business partner
Ben Lane
The mayor of North Miami, Marie Lucie Tondreau, is currently on trial for allegedly taking part in a mortgage fraud scheme that defrauded lenders to the tune of $8 million. Tondreau's lawyer claims that she is a victim too.
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CUNA issues alert on HELOC wire fraud

New round of attacks prompts cautions on data
Trey Garrison
CUNA Mutual Group issued an alert this week regarding a wave of fraud that originates from home equity lines of credit and requests wire transfers be sent to construction company accounts.
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NYC’s Ebola cleanup czar is a con artist and convicted mortgage scammer

Sal Pane once sued by New York State
Ben Lane
Here's proof that life can be stranger than fiction... The man who was in charge of cleaning up Ebola in New York City is also a con artist who was once fined $12.5 million for fraudulent mortgage modifications.
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“Real Housewives” stars get prison time for mortgage fraud

Teresa and Joe Giudice sentenced to total of 56 months in prison
Ben Lane
In March, the couple pleaded guilty to charges alleging that they falsified loan applications to fraudulently obtain $5 million in mortgages and construction loans over an eight-year period.
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