By Kevin Chiu A federal jury has convicted a self-admitted “sovereign citizen” of filing $20 billion in false public real estate liens against government officials. The jury returned the verdict in Spokane, Washington after a two day trial against Ronald James Davenport. The 63-year-old Chewelah, Washington resident is an admitted federal tax protestor, whose ex-wife… Continue reading Man Convicted of Filing False Real Estate Liens
Category: Mortgage Fraud
Title Officers Charged in Robo-Signing Felonies
By Mike Colpitts Two title officers associated with Lender Processing Services have been indicted by a Nevada county grand jury on charges related to illegal robo-signings, according to the Office of the Nevada Attorney General. The two LPS employees, Gary Trafford and Gerri Sheppard, were indicted on 606 counts. The charges relate to allegations of… Continue reading Title Officers Charged in Robo-Signing Felonies
Real Estate Investors Plead Guilty in Conspiracy
By Mike Colpitts Eight real estate investors have pleaded guilty for their roles in a criminal conspiracy at real estate foreclosure auctions. The charges against the investors carry up to 30 years in U.S. federal prison and $1-million in fines. The investors agreed to enter the guilty pleas after a federal investigation led to their… Continue reading Real Estate Investors Plead Guilty in Conspiracy
Nevada Makes Illegal Foreclosures Felony
By Mike Colpitts Responding to homeowner complaints, Nevada has become the first state in the nation to make illegally repossessing a home a felony, and may send bankers to jail for doing such. The new law was enacted after tens of thousands of homeowners complained to lawmakers about their homes being foreclosed without proof of… Continue reading Nevada Makes Illegal Foreclosures Felony
Real Estate Developer, County Commissioner Pled Guilty
By Mike Colpitts A Houston real estate developer and Texas county commissioner pled guilty in federal court for their parts in a bribery scandal that influenced the county commission in a land scheme allegedly for more than a decade. Houston developer Michael Surface admitted that he intended to influence former Harris County Commissioner Jerry Eversole… Continue reading Real Estate Developer, County Commissioner Pled Guilty
Mortgage Fraud Declines
By Mike Colpitts Mortgage fraud loan originations are estimated to decline nearly 40% in 2011 from $12-billion in damages to the U.S. economy last year, according to real estate research firm CoreLogic. Fraud experts predict that residential mortgage fraud will total $7.4-billion this year. CoreLogic attributes the year over year drop primarily to lower mortgage… Continue reading Mortgage Fraud Declines
Guilty Pleas in Real Estate Ponzi Scheme
An attorney and real estate investor have pled guilty to defrauding dozens of investors out of $52 million in a major real estate Ponzi scheme. Federal prosecutors say the scheme was called the British Lending Program, and involved 67-year-old Derek Smith of Oxfordshire, England and Leawood, Kansas attorney James S. Brown, 66. The two pled… Continue reading Guilty Pleas in Real Estate Ponzi Scheme
Guilty Plea in Condo Fraud Scheme
By Kevin Chiu A Las Vegas man has pleaded guilty for his role in a scheme to gain control of a condominium owners association and illegally direct business to a law firm and construction business. Steven Wark, 54, admitted that he operated a fraud scheme for nearly six years starting in May 2005, in which… Continue reading Guilty Plea in Condo Fraud Scheme
Legal Housing Thievery Starts Now
By Kevin Chiu Private equity funds, hedge funds and giant banks like Goldman Sachs, JP Morgan Chase, AIG and investment firm Blackstone may soon be buying up foreclosures for pennies on the dollar if a proposal is approved by the government. It would be a major case of legal housing thievery for all Americans to… Continue reading Legal Housing Thievery Starts Now
Renters Ripoff Landlords in $6 Million Mortgage Scam
By Mike Colpitts In a rare turnaround of sorts, seven people have been arrested for allegedly posing as homeowners of the homes they were renting and applying to take out nearly $6-million in home equity mortgages. The seven were arrested in Southern California by sheriff’s investigators after a major investigation, including the FBI led to… Continue reading Renters Ripoff Landlords in $6 Million Mortgage Scam