Posts Tagged ‘mortgage fraud’

Two sentenced for role in mortgage fraud scheme

JACKSON — Former mortgage brokers Jason Ellis and Michael Persac will forfeit more than $3 million and pay more than $781,000 in restitution for their part in a mortgage fraud scheme. Ellis and Persac, out on bond since they were charged in 2005 in a mortgage fraud case, also are going to prison after their […] [...]

Four sentenced for their role in mortgage scheme

JACKSON — Four people who pleaded guilty almost five years ago in a mortgage fraud schemes have been sentenced. Prosecutors said the scheme began in September 1999 and ended in 2005, when charges were filed. It involved two related cases totaling about $5.8 million in fraudulent mortgage loans. The Clarion-Ledger reports three people were sentenced […] [...]

Loan origination schemes make FBI’s Top 10

by Published: August 21,2011

Tags: loan originators, mortgage fraud

As onerous as the new regulations in place may seem to loan originators, an alarming number seems to justify them. According to the Federal Bureau of Investigation’s Mortgage Fraud Report, of the Top 10 Prevalent Schemes per FBI cases opened for fiscal year 2010, an astounding 62 percent of them involved loan origination schemes. The […] [...]

Man gets jail time for mortgage fraud scheme

BRANDON — A federal judge has sentenced a Brandon man to 33 months in prison for his role in a mortgage fraud scheme. Shane Rothery pleaded guilty in October to mail fraud. Prosecutors say Rothery fabricated information on residential appraisals and inflated the property values so he and his accomplices could pocket the excess proceeds. […] [...]

Ex-mortgage broker sentenced for fraud

by Published: June 24,2010

Tags: courts, housing, mortage, mortgage fraud, real estate

JACKSON — A former Rankin County mortgage broker has been sentenced to federal prison for 78 months for mortgage fraud and bank fraud. The Clarion-Ledger reports U.S. District Judge David Bramlette yesterday sentenced 39-year-old Warren Clifton Pierce to five years regarding mortgage fraud and 18 months for bank fraud. Bramlette said he was dismayed Pierce […] [...]

Warrant issued for Charles Evans Jr.

A federal bankruptcy court judge has issued an arrest warrant for Charles Evans Jr. for failing to appear in court and failing to produce documents regarding his trust account, according to a court filing posted Friday. Charles Evans Jr. and his brother Chris Evans have been charged with conducting a commercial real estate mortgage-stacking scheme […] [...]

Banks try to force Evans into Chapter 7; still searching for trust account

Creditors in the Evans brothers commercial real estate fraud case are still trying to get information on the funds of Charles Evans Jr., and Evans continues to stall them. Creditors were informed on Monday that Charles would not show up for a deposition that was scheduled for Tuesday. The parties have obtained information on Charles’ […] [...]

Banks fight for title company inside info

by Published: January 11,2010

Tags: Banks, Evans, Mississippi Valley Title, mortgage fraud

Institutions entitled to ‘historical relationship’ between Charles Evans Jr. and MVT In federal bankruptcy court in Jackson Dec. 30, state banks fought with Mississippi Valley Title Insurance Company (MVT) for the release of the title company’s internal audit procedures. Banks want the knowledge of how and when MVT discovered that one of its approved attorneys, […] [...]

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