The peeps are being put in jail but the big banksters who actually planned the fraud from the top are all free like Madoff and many others who to date walk free and are operating in silence.
MIAMI – U.S. Immigration and Customs Enforcement (ICE) and other state and federal law enforcement agencies announced today their commitment to crack-down on mortgage fraud and cited the indictment of six individuals who were most recently apprehended for their involvement in an illegal mortgage fraud scheme.
This joint Federal-State Mortgage Fraud Initiative is designed to combat the growing mortgage fraud epidemic in South Florida. The Federal-State Mortgage Fraud Initiative brings together federal and state law enforcement to investigate and prosecute federally a myriad of mortgage fraud offenders, from straw purchasers, to mortgage brokers, to complicit bank employees, title agents, and attorneys.
“We at ICE are pleased to have been able to assist in bringing about today’s indictment, which highlights some abuses in the real estate industry,” said Anthony Mangione, special agent-in-charge of the ICE Office of Investigations in Miami. “Mortgage fraud costs lenders and purchasers millions of dollars and undermines the credibility of the real estate industry. The Miami ICE Office of Investigations will continue to work to uncover illicit transactions involving mortgage brokers and together with the law enforcement community is united in our resolve to disrupt criminal organizations that commit crimes against our society and the economy.”
On June 17, seven defendants identified as Evelyn Marrero, 37; Jorge Bacallao, 44; Marilyn De La Paz a/k/a Marilyn Martis, 35; Daisy Gonzalez, 47; Aivet Loarca, 36; Elena Garman, 47; and Loaisa Rodriguez, 26, were charged in a 10-count indictment for their participation in a mortgage fraud scheme, which resulted in the issuance of more than $2 million in mortgage loans. According to the indictment, the defendants Evelyn Marrero, Jorge Bacallao and Marilyn De La Paz, a/k/a “Marilyn Martis,” operated a title closing company, J&E Universal Title Services, Inc., located in Miami-Dade. To effectuate the scheme, Marrero, Bacallao, and De La Paz conspired with co-defendants, mortgage fraud brokers Aivet Loarca and Daisy Gonzalez, to submit fraudulent applications for mortgage loans. The applications contained materially false information regarding the borrowers’ purported employment, income, available funds on deposit, and rent payment history. In this conspiracy, Marrero, Bacallao, De la Paz, Loarca, and Gonzalez recruited defendants Elena Garman and Loaisa Rodriguez to steal personal identifying information for use in a straw transaction and to serve as a straw buyer. Defendant Garman is additionally charged with stealing the personal information of a relative without her consent and using her information to obtain a mortgage loan.
Upon approval of the fraudulent mortgage loan applications, the lending institutions wire-transferred the loan proceeds to the defendants’ title company for closing. Marrero, Bacallao, and De La Paz regularly used J&E Universal as the title closing agent. Defendants Marrero, Bacallao, and De La Paz used the loan proceeds to pay creditors, their co-conspirators, and for their personal benefit. Through this scheme, the defendants obtained four fraudulent mortgages.
These defendants were charged with conspiracy to commit wire fraud, wire fraud, and aggravated identity theft. The defendants face the following possible maximum terms of imprisonment if convicted: conspiracy to commit wire fraud and substantive wire fraud: 20 years’ imprisonment; aggravated identity theft: mandatory 2 years’ imprisonment; bank fraud: 30 years’ imprisonment; false loan application: 30 years’ imprisonment; money laundering: 20 years’ imprisonment; failure to file tax returns: 1 year imprisonment; tax evasion: 5 years’ imprisonment; and filing a false tax return: 3 years’ imprisonment.
R. Alexander Acosta, United States Attorney for the Southern District of Florida commended the investigative efforts of the Office of Investigations of U.S. Immigration and Customs Enforcement. The case is being prosecuted by Assistant United States Attorney Jeffrey E. Tsai.
Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov http://www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.
An indictment is merely a formal charge that a defendant has committed a violation of criminal law. Defendants are presumed innocent until, and unless, proven guilty.
– ICE –
3 responses so far ↓
Wire Fraud - loik Tags Search // January 15, 2009 at 1:32 am
[...] ICE assists in joint law enforcement mortgage fraud crackdown . These defendants were charged with conspiracy to commit wire fraud, wire fraud, and aggravated identity theft. The defendants face the following possible maximum terms of imprisonment if convicted: conspiracy to commit wire fraud and . Grand jury indictes Tulsa man on wire fraud, money laundering . for personal expenditures such as the purchase of vehicles, real estate, personal watercraft,. Click on the link above to read more about this. Local Briefs Woman admits to adoption fraudMADISON – A former Maiden Rock woman who falsely told four women that she had a baby to adopt pleaded guilty Tuesday in federal court to four counts of wire fraud.Melissa Christiansen, 31, of Red Wing, . Florence Man, Wife Indicted In Wire Fraud Case A federal grand jury has indicted a Florence man, along with his wife and stepdaughter, in a wire fraud case. WIRE FRAUD.. WHEN YOU TELL A LIE OVER THE PHONE OR CABLE FOR MONEY.. YOU, are not my lawyers or my agents, please do not leak stories from high school, college, my past boyfriends, etc, etc.. and think that you are funny.. or that it is maknig . EPA’s Ten Most Wanted Making False Statements; Conspiracy; Wire Fraud. Alessandro Giordano illegally imported automobiles that did not meet the United States emissions standards. Alessandro Giordano fled the country. He is believed to be in Italy. . Former Task Force Intelligence Analyst Arrested for Harassing . The indictment alleges one count of wire fraud against Hoffman for defrauding the Massachusetts National Guard, the task force, and the DEA of their right to his honest services; one count of falsifying records in a federal . Missouri Former Pasta CEO Pleads Guilty To Cooking The Books Webster, 46, of Mission Hills, Kansas and the former CEO of American Italian Pasta Company of Kansas City, Missouri, pleaded guilty to one count of wire fraud in connection with the misrepresentation of the financial health of the . Fraud News – World stocks plummet on banking, retailing fears . Tim Geithner’s Mission: Head, Bankrupt Treasury Dept. [Scandal] Examiner.com – 6 minutes ago Conspiracy, mail fraud, wire fraud, lying to the IRS, accepting gifts from the mob, sleeping with Judith Regan in his free . Full Story. . Fry’ s VP indicted for wire fraud, money laundering A California grand jury has issued indictments against a former Fry’s Electronics executive for running an alleged kickback scheme that cost the retailer tens of millions of dollars. Add to digg Add to StumbleUpon Add to Twitter Add to . Fry’ s VP indicted for wire fraud, money laundering A California grand jury has issued indictments against a former Fry’s Electronics executive for running an alleged kickback scheme that cost the retailer tens of millions of dollars. Ponzi Scheme: 01-12-09 Charles Martin, John Walsh Arrested Both men were charged with one count of wire fraud in a criminal complaint that was filed yesterday and unsealed today following their arrests, announced Patrick J. Fitzgerald, United States Attorney for the Northern District of . Potential for Bailout Money Fraud Prompts Expansion of Forensic . A prominent forensic accounting firm has opened a new office in Los Angeles and added one of the nation’s leading forensic investigators to its team of experts in anticipation of an expected increase in fraud, waste and abuse as . Sandown couple arraigned in mortgage fraud case . allegedly tied to a mortgage fraud scheme operating out of Salem pleaded not guilty yesterday to charges they posed as home buyers. Frank and Maureen Blake, of 62 Compromise Way, are both charged with conspiracy to commit wire fraud. The 25 Worst Business Failures in History Buti, already accused of defrauding investors, was arrested in 2000 and charged with wire fraud, conspiracy, money laundering, and transportation of stolen property. 24. CBGB. A legend turns into a men’s store . North Carolina Woman Gets 36 Months For Wire Fraud A Criminal Information was filed on June 2, 2008, charging Clement with conspiring to commit wire fraud. On June 23, 2008, Clement pled guilty to the charge. From October, 2002, to February, 2006, Clement along with others, . Read More. . Savannah man gets 63 months for fraud Both men were convicted June 7 after a one-month trial of conspiracy and wire fraud for fraudulently soliciting more than $50 million from members of the public in high-yield trading programs and venture capital investments, . Former Broker Charged with Conspiracy to Commit Wire Fraud . Former broker Kosta Kovachev has been charged with conspiracy to commit wire fraud for his alleged role in assisting New York law firm founder Marc Dreier with an alleged $380 million Ponzi scheme. Dreier is the founder of Dreier LLP. . The Bear Stearns Lucky Bastards The two men who ran the hedge funds, Ralph Cioffi and Matthew Tannin, were indicted in June 2008 by a federal grand jury in the Eastern District of New York on charges of conspiracy, securities fraud, and wire fraud in conjunction with . Geez Governor Rod “Fight, Fight, Fight” Blagojevich just got himself tossed out on his ass by the Illinois House after that whole fracas with conspiracy to commit mail and wire fraud and with solicitation of bribery. . [...]
onlymoments // January 19, 2009 at 12:03 am
CHECK OUT THIS LAWSUIT…..http://vegasvig.wordpress.com/2009/01/17/mortgage-fraud-press-release/
MARIO KENNY // January 21, 2009 at 1:42 pm
onlymoments,
thanks for the post I have posted the comment on the top.
mario kenny