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Real estate investor gets 7 years in $15M mortgage fraud scheme

3 Star Properties, Houston lawyer, real estate broker liable in ‘long con’ HOUSTON, March 28, 2019 /PRNewswire/ — A federal jury in Houston has awarded $15 million to investors who were defrauded.

The apparent mastermind behind what prosecutors called the "largest mortgage fraud. year and a half in prison. Others sentenced in the case were two real estate agents, a loan originator and the.

Flippers got a bad rap over the years because some mortgage brokers and agents were in cahoots with disreputable investors. It is one of the ways that flipping schemes worked: parties involved Flipping involved four parties: the appraiser, the investor (or real estate agent), a mortgage broker and a straw buyer — all four knew each other.

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A former mortgage company employee who admitted to helping an Illinois state judge carry out a mortgage fraud scheme for two investment properties in Chicago was sentenced Tuesday to seven months.

A New Jersey federal judge on Thursday sentenced a man who had pled guilty to conspiring to defraud financial institutions and launder stolen funds as part of a $15 million mortgage scheme to.

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A Simi Valley grandmother who lost her life savings in a real estate investment scam offered by an insurance agent was awarded more than $15 million Wednesday in a lawsuit against MetLife and two.

Fishman said includes a man who attempted to murder a witness to the alleged scheme. All 11 defendants are charged with conspiracy to commit wire fraud. on Mortgage Now on July 30, 2008. The.

Rush to sell by Southern California homeowners puts listings at 5-year high Former OC man gets prison time for fraud tied to a real estate investment scheme Orange County. down and a 30-year.

Real Estate Agent Charged with Running $15M Investment Scam Allison Tussey – August 23, 2013 – Leave a comment Brenda Ashcraft , 43, Milford, Ohio, is charged with defrauding investors of at least $15 million between 2009 and 2013 in a scheme to purchase and sell real estate through real estate investment trusts, known as REITs.

Mortgage broker, lender and real estate agent Marco Laureti has been convicted in a $20 million mortgage fraud scheme in South Florida.. Laureti was found guilty of one count of conspiracy to.

Fannie Mae to Charge Strategic Defaulters, for Everything The actual Fannie Mae announcement quotes Terence Edwards, executive vice president for credit portfolio management at Fannie: "Walking away from a mortgage is bad for borrowers and bad for communities and our approach is meant to deter the disturbing trend toward strategic defaulting.