By Dennis Norman, on May 30th, 2024 
A Springfield, Missouri business owner, Brian Scroggs, has been indicted by a federal grand jury for orchestrating a fraudulent timeshare exit scheme, according to an announcement from the FBI. Scroggs, who owned Vacation Consulting Services, LLC, and The Transfer Group, LLC, promised clients he could help them exit their timeshare contracts for a fee. Despite knowing that timeshare companies had stopped working with exit firms, Scroggs continued to solicit new clients under false pretenses.
The indictment reveals that Scroggs defrauded clients of over $32,000 by falsely claiming his companies could release them from their timeshare agreements. His scheme involved hosting Continue Reading →
By Dennis Norman, on July 15th, 2023 In Ridgefield, Connecticut you only have a 1 in 510 chance of being a victim of crime, according to recent FBI data. This makes Ridgefield, CT the safest city in the U.S.! This is based upon the crime rate for crimes of arson, burglary, larceny-theft, motor vehicle theft, murder, rape, armed robbery, and aggravated assault for cities with a population of at least 25,000 people. As the map below shows, the St Louis metro area has two cities that made the list, Ballwin, Missouri (#41) and Edwardsville, Illinois (#33).
See all homes for sale, and recently sold homes in Ballwin Continue Reading →
By Dennis Norman, on January 28th, 2015 So you may be asking, why am I writing about crime here, after all isn’t this site about real estate? Correct but there are few things that can affect property values more than crime rates and school districts. Not to mention, from an economic development standpoint, crime also plays a role in the success we have as a region attracting businesses to St Louis to create jobs which also has a major impact on home prices. Continue Reading →
By Dennis Norman, on February 26th, 2014 source: Federal Bureau of Investigation
Property fraud is a serious threat to homeowners, according to the FBI. A practice that was virtually unheard of until about 6 years ago is something called “house stealing” in which con artists identify a house to target and then steal it. How? It’s actually pretty easy. They get the owners name and personal information, which is easily obtainable today online, and then complete a few forms, forge the owner’s signature and the next thing you know, the con artist owns the house. Other fraudulent activity includes placing mortgages on property not owned Continue Reading →
By Dennis Norman, on September 27th, 2013 Daniela Spiridon, a 42 year-old woman from St. Charles, pled guilty yesterday to six felony counts of wire fraud related to a scheme she operated out of an office in Chesterfield, according to a report from the FBI. According to the indictment Spiridon was charged under, she operated her business out of an office at 18118a Chesterfield Airport Road, in Chesterfield, MO under several business names, including A&AD Investments, LLC; CDRS ESC Investments, a.k.a. CDRS ESC and CDRS LLC.
Continue Reading →
By Dennis Norman, on August 16th, 2011 The FBI released it’s Mortgage Fraud Report for 2010 showing that mortgage fraud continued at elevated levels in 2010 and was consistent with levels seen in 2009. The top states for mortgage fraud activity in 2010 were Florida, California, Arizona, Nevada, Illinois, Michigan, New York, Georgia, New Jersey, and Maryland.
Continue Reading →
By News Desk, on July 15th, 2011 KANSAS CITY, MO—Beth Phillips, United States Attorney for the Western District of Missouri, announced that a former real estate agent and a former loan officer are among five co-defendants who have pleaded guilty in federal court to their roles in an $11 million mortgage fraud scheme that involved upscale homes in Lee’s Summit, Blue Springs, Liberty, Parkville, and elsewhere.
Continue Reading →
By News Desk, on April 19th, 2011 Lee Bentley Farkas, the former chairman of a private mortgage lending company, Taylor, Bean & Whitaker (TBW), was convicted today for his role in a more than $2.9 billion fraud scheme that contributed to the failures of Colonial Bank, one of the 25 largest banks in the United States in 2009, and TBW, one of the largest privately held mortgage lending companies in the United States in 2009.
Continue Reading →
By News Desk, on February 5th, 2011 A federal grand jury indicted a Brookwood man yesterday on wire fraud and false statement charges related to a more than $1 million mortgage fraud scheme in the Birmingham area, announced U.S. Attorney Joyce White Vance.
A 34-count indictment filed in U.S. District Court charges SCOTT ERIC PERRY, 34, with 17 counts of wire fraud and 17 counts of making false statements to lending institutions in connection to real estate transactions between February and December, 2006.
Continue Reading →
By Dennis Norman, on February 4th, 2011 Today Richard W. Northcutt, a California real estate investor, pleaded guilty to conspiring with a group of real estate speculators who agreed not to bid against each other at certain public real estate foreclosure auctions in San Joaquin County. According to the court documents the primary purpose of the conspiracy was to suppress and restrain competition and to obtain selected real estate offered at these foreclosure auctions at non-competitive prices.
Continue Reading →
By News Desk, on September 12th, 2010 A Massachusetts attorney, Michael R. Anderson, 41, of Framingham, was charged last week in federal court with wire fraud, bank fraud, and money laundering in connection with a multi-year, multi-property mortgage fraud scheme in Dorchester and Roxbury. United States Attorney Carmen M. Ortiz; Richard DesLauriers, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division; and William P. Offord, Special Agent in Charge of Internal Revenue Service, Criminal Investigation – Boston Field Division, announced today that the defendant was charged in an Information with 16 counts of wire fraud, nine counts of bank fraud, and two counts Continue Reading →
By News Desk, on September 11th, 2010
A Raleigh, N.C., real estate speculator pleaded guilty to conspiring to rig bids for public real estate foreclosure auctions held in multiple counties in eastern North Carolina, the Department of Justice announced today.
Christopher J. Deans pleaded guilty yesterday in U.S. District Court in Greenville, N.C., for participating in a conspiracy to rig bids during the real estate foreclosure auction process in eastern North Carolina from at least as early as April 2003 until at least April 2005. The primary purpose of the conspiracy was to suppress and eliminate competitive bidding on foreclosed properties and obtain selected real estate Continue Reading →
By News Desk, on August 14th, 2010 For Immediate Release August 12, 2010 United States Attorney’s Office District of New Jersey Contact: (973) 645-2888
Alleged Schemes Defrauded Investors in Multiple States and Abroad
NEWARK, NJ—Eliyahu Weinstein, aka “Eli Weinstein,” was arrested at his home this morning by federal agents on charges that he ran an investment fraud scheme causing losses of at least $200 million, U.S. Attorney Paul J. Fishman announced.
Weinstein, 35, of Lakewood, N.J., was charged with one count of bank fraud and one count of wire fraud in connection with the alleged scheme. Vladimir Siforov, 43, of Manalapan, N.J., was also charged with Continue Reading →
By Dennis Norman, on June 18th, 2010 Dennis Norman
According to a press release issued by the FBI, nearly 500 people have been arrested in a nationwide mortgage fraud take-down as part of “Operation Stolen Dreams.” This operation was launched on March 1, 2010 and, according to the FBI, has lead to a total of 485 arrests, 330 convictions and the recovery of nearly $11 million. The FBI estimates that losses from a variety of fraud schemes are estimated to exceed $2 billion.
Operation Stolen Dreams is the government’s largest mortgage fraud take-down to date. But FBI Director Robert S. Mueller cautioned that there is Continue Reading →
By Dennis Norman, on May 23rd, 2010 A 10-count indictment has been unsealed charging six individuals with conspiracy to commit wire fraud and wire fraud, announced U.S. Attorney Karen P. Hewitt. The defendants are charged with submitting false and fraudulent mortgage loan applications and related documents to banks and other lending institutions, thereby inducing the institutions to make approximately 36 loans totaling approximately $20,800,000.
The defendants charged with participating in the conspiracy are: Brian Andrew La Porte; Daniel John Schuetz; Michael Wayne Wickware; Roxanne Yvette Hempstead; Darryl Anthony Wallace, aka Darryl Anthony White; and Terrence Smith, aka Terry Lee Smith. The indictment alleges that the defendants devised Continue Reading →
By Dennis Norman, on May 22nd, 2010 The founder and head of Chicago Development and Planning was sentenced yesterday to 15 years and eight months in prison, and ordered to pay more than $9 million in restitution for wire fraud, mail fraud, and money laundering, U.S. Attorney Joseph P. Russoniello announced.
Patricia Morgen pleaded guilty on Dec. 16, 2009. According to the plea agreement, she admitted creating a scheme to solicit investors for a company called Chicago Development and Planning, with the promise of substantial guaranteed return profit payments. Morgen falsely promised investors that their funds would be used to purchase real property to be rented or Continue Reading →
By News Desk, on April 26th, 2010 The United States Attorney’s Office announced today that Aaron Duncan, the former CEO and owner of The Duncan Group, has pleaded guilty to fraud charges involving a $3.9 million investment scheme.
According to court documents, Duncan represented that The Duncan Group was involved in real estate investments, including buying, rehabilitating, and selling residential real estate. Duncan solicited investors in Missouri and around the United States to participate in his real estate projects through The Duncan Group by making false representations regarding the security of investments and the rates of returns promised. Bank records revealed that Duncan operated The Duncan Group Continue Reading →
By Dennis Norman, on March 15th, 2010 The Internet Crime Complaint Center (IC3) and the Federal Bureau of Investigation have published a report about common real estate scams and rental scams they are finding and how to avoid them. Like most scams there are warning signs and red flags that can help you avoid falling victim; knowing what to look for is key.
The IC3 reminds people to be cautious when using the internet to either advertise real estate for sale or rent or to find a property to rent or buy.
For Landlords and Sellers of Property:
Look out for: Rental scams occur when the victim Continue Reading →
By News Desk, on December 12th, 2009 Department of Justice Press Release
Scam Involved Lawyers, Mortgage Brokers, and More Than $14.6 Million in Loans
PHILADELPHIA—A 15-count indictment was filed today against five defendants charged in a $14.6 million mortgage fraud scheme that resulted in at least 35 fraudulent mortgage loans, announced United States Attorney Michael L. Levy, Special Agent-in-Charge of the FBI Janice K. Fedarcyk, and Pennsylvania Secretary of Banking Steven Kaplan. Charged are Edward G. McCusker and John Alford Bariana, owners of Axxium Mortgage, Inc., McCusker’s wife, Jacqueline, and Jeffrey A. Bennett and Stephen G. Doherty, owners of the Doylestown law firm Bennett & Doherty, Continue Reading →
By News Desk, on November 21st, 2009
Joy Jackson Personally Responsible for Over $16 Million in Losses to Mortgage Lenders; Used Over $800,000 of Fraudulently Obtained Proceeds to Pay for Her Wedding
U.S. District Judge Roger W. Titus sentenced the president of the Metropolitan Money Store, Joy Jackson, age 41, of Fort Washington, Maryland, today to 151 months in prison followed by five years of supervised release for conspiracy to commit mail and wire fraud in connection with a mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair their damaged credit, announced United States Attorney Continue Reading →
By News Desk, on November 8th, 2009 Department of Justice Press Release
TAMPA—United States Attorney A. Brian Albritton today announced the results of a nine-month-long Mortgage Fraud Surge investigation that has resulted in charges against more than 100 defendants and involves allegations concerning more than $400 million in loans procured by fraud and more than 700 properties. U.S. Attorney Albritton is holding events throughout the district this week to highlight the announcement.
There are currently mortgage fraud-related charges pending against approximately 500 defendants in federal mortgage fraud cases around the nation. The cases concern both mortgage schemes designed to defraud mortgage lenders and “foreclosure rescue Continue Reading →
By Dennis Norman, on August 8th, 2009 Dennis Norman
By: Dennis Norman
Previously I did an article on avoiding foreclosure rescue scams which have unfortunately become rather common in recent months.
This week the FBI arrested two people that the FBI alleges has done just that. I wanted to share the press release from the FBI to heighten people’s awareness of scams such as this and hopefully help prevent more victims of such scams. The press release describes in detail how they allege this scam was carried out. To read the FBI press release click here, or just read below as I have published it Continue Reading →
By Dennis Norman, on July 30th, 2009 By: Dennis Norman
The FBI has issued a consumer alert warning of phony online rental ads. According to the alert, the scam goes like this:
You can’t believe your good fortune-you find a rental home in a nice area through a Craigslist classified ad at an unbelievably low rate. The landlord-who had to leave the country and travel to Nigeria-asks that you wire him two months worth of rent. You arrive at the home on the agreed-upon date, but there is just one small problem- the house is not actually for rent and its owners know nothing about your agreement.
Continue Reading →
|
Recent Articles
Helpful Real Estate Resources
|
