Items Tagged with 'Phillip E. Hill, Sr.'

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  • Mortgage Fraud Scheme Targeted Distressed Properties

    The Manhattan District Attorney’s office indicted 13 people and a mortgage origination company for allegedly perpetrating a mortgage fraud scam that ran for four years and cost lenders more than $100m. The indictments and convictions come after a 10-month investigation of the Garden City, Long Island-based AFG Financial Group and 19 of its mortgage transactions. In the indictment, District Attorney Robert Morgenthau alleges the defendants targeted distressed residential properties in New York City and surrounding counties.
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  • Feds Bust Huge Alleged Mortgage Fraud Ring

    Federal prosecutors unsealed a massive indictment Tuesday afternoon against a huge alleged mortgage fraud ring in San Diego, Calif., charging 24 people with racketeering activity under the Racketeer Influenced and Corrupt Organizations Act (RICO), involving 220 properties with a total sales price of more than $100 million dollars.
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  • Mortgage Fraud Scheme in Missouri Involves Agent, Brokers

    A Missouri real estate agent and two former loan officers were indicted in a $12.6 million mortgage fraud scheme that involved 25 residential properties in Lee's Summit, Mo., and Raymore, Mo., U.S. Attorney for the Western District of Missouri John Wood said on Wednesday. A 34-count indictment of individuals ranging in age from 29 to 50 years old was returned by a federal grand jury in Kansas City. That this sort of fraud could take place in Missouri -- thousands of miles away from fraud hotbeds in California and Florida -- is telling.
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  • Straw Buyer Schemes Lead to $34 Million in Fraud Indictments

    Two separate mortgage fraud rings in two different states made headlines Thursday morning, with federal indictments accusing them of more than $34 million dollars worth of mortgage fraud. In Idaho, five were indicted in a scheme that is alleged to have defrauded a bank in the state of more than $20 million, while a $14 million indictment in New York followed a similar track.
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