Archives

July 29, 2011 - (RealEstateRama) -- United States Attorney Laura E. Duffy announced that Matthew “Beau” La Madrid was sentenced today by U.S. District Court Judge William Q. Hayes to serve a lengthy federal prison term in connection with his operation of the Plus Money Premium Return Funds (“PRF”) and related real estate investment and mortgage fraud schemes. The defendant entered his guilty plea on January 3, 2011.

SACRAMENTO, CA - July 20, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced today the unsealing of an indictment charging seven real estate professionals with conspiracy to commit wire fraud in connection with a mortgage fraud scheme. The indictment was returned by a federal grand jury on July 14, 2011.

LOS ANGELES, CA - July 11, 2011 - (RealEstateRama) -- Six Los Angeles County residents have been charged for their roles in a mortgage fraud scheme that used fraudulent loan applications and supporting documents to convince lenders to fund approximately 20 loans that resulted in approximately $4 million in losses.

SACRAMENTO, CA - May 27, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that United States District Judge Morrison C. England, Jr. sentenced Ralondria Stafford, 37, of San Francisco, and Necole Ward, 32, of Las Vegas, (both formerly of Vallejo, Calif.) for their roles in a mortgage fraud scheme carried out in Vallejo between 2005 and 2006. Judge England sentenced Stafford to 21 months in prison and Ward to 12 months and a day in prison. The prison sentences are to be followed by three years of supervised release and both defendants were ordered to pay $200,000 in restitution. Stafford and Ward pleaded guilty on June 10, 2010.

FRESNO, CA - May 24, 2011 - (RealEstateRama) -- United States Attorney Benjamin B. Wagner announced that United States District Judge Lawrence J. O'Neill sentenced Wrenl Burge, 40, of Fresno, to 41 months in prison and Albert Lewis Ellis, 46, also of Fresno, to 33 months in prison for a scheme to falsify mortgage loan documents. Burge was ordered to pay $1,011,524 in restitution, and Ellis was ordered to pay $548,178 in restitution to the mortgage lenders.

SANTA ANA, CA - October 8, 2010 - (RealEstateRama) -- An Orange County attorney has been indicted on charges related to a mortgage fraud scheme in which 30 homes were purchased at inflated prices, with the excess proceeds going to the lawyer and other members of the conspiracy.

LOS ANGELES, CA - October 1, 2010 - (RealEstateRama) -- A federal grand jury has indicted a Downey man on a series of fraud charges for allegedly running two related fraud schemes—a Ponzi scheme that took more than $11 million from more than 300 victims, and a mortgage fraud scheme that preyed on homeowners by stealing the equity from their homes and secretly taking title to their properties.

SANTA ANA, CA - October 13, 2009 - (RealEstateRama) -- First American CoreLogic, a member of The First American Corporation (NYSE: FAF) family of companies and America’s largest provider of advanced property and ownership information, analytics and services, today announced that it has built the mortgage industry’s most comprehensive national fraud data repository to help clients combat all types of mortgage fraud and to further enhance the predictive performance of its anti-fraud solutions.