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MORTGAGE FRAUD

MORTGAGE FRAUD & MORE......

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This information is dedicated to those who have had foreclosures, crooked loans and loan fraud happen
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You are encouraged to check your mortgage loan documents and even if you don't have them get them from the Title company whose name appears on your loan at the local court house recorder of deeds. Get documents from whomever you made loan payments too.  Make sure you get original loan application & Alta title policy & title commitment.  Folks are finding that their loan applications were switched from fixed rate to adjustable loans.

Get Right to Cancel documents and the name of the broker who set up loan.  Many folks never saw the notary/escrow agent whose names appear on loan documents attesting to seeing borrower.  Get copies of all checks paid to 3rd parties. Compare them, there will be many fraudulent misrepresentations. Check for recording fees charged against real cost. Some folks believe credit debts were paid off, in most cases the debt was bargained down to pennies and you were charged the full deal with *8-16 percent interest.

in the next several weeks on MORTGAGE FRAUD & MORE MORTGAGE FRAUD stories will appear that will give you courage to fight for your rights.  These lawsuits done by the government for big settlements were allegedly set up to discourage you to take action.
Don't trust in this scam, you need to go after the bad guys NOW by getting your facts, then to court.

 There's lots of crooked attorneys involved that assume protecting the crooks will do something it won't.  Law firms  involved will require your diligence in finding out about them. Some attorneys were attached to partnerships with crooked brokers & foreclosure scams or in partnership with flea bag title companies that set up bad deals then closed selling their assets to other title companies to hide the fraud.

Know this from the word of God in the BIBLE, NO WEAPON FORMED AGAINST YOU SHALL PROSPER.
David brought down Goliath with a slingshot. Your sling shot is truth & righteousness through the Blood of Jesus.






Everybody's not going to get away with their evil!!

Mortgage broker gets caught in mortgage fraud scheme


Los Angeles Mortgage Broker Arrested For Stealing Escrow Funds From Tuolumne County Couple

FOR IMMEDIATE RELEASE
CONTACT: Lauren Horwood
 
November 22, 2011
PHONE: (916) 554-2706
 
www.usdoj.gov/usao/cae
usacae.edcapress@usdoj.gov
 
Docket #: 1:11-CR-00237-LJO
 
 
            FRESNO, Calif. — United States Attorney Benjamin B. Wagner announced the arrest of Steve Zaven Kessedjian, 48, of Los Angeles, after a federal grand jury returned an indictment on July 21, 2011, charging him with mail fraud for a mortgage fraud scheme. Kessedjian was arrested today in Los Angeles by U.S. Secret Service agents and appeared before a U.S. magistrate judge in the U.S. District Court there.
            According to the indictment, Kessedjian’s company, Amerilend Inc. in Woodland Hills, helped homeowners secure loans to refinance their homes. When a loan was funded, Amerilend would use Targa Escrow, another business owned by Kessedjian, to disperse the escrow funds.
            According to the indictment, in December 2007, an Amerilend employee assisted a couple from Tuolumne County in refinancing their home to consolidate their credit card bills. As directed by closing documents, the bank paid off the first mortgage and then wired the remainder of the loan proceeds, $57,343, to Targa Escrow. Instead of dispersing the remainder to the credit card companies as the escrow instructions directed, Kessedjian took the funds for his own purposes. The victims lost their home to foreclosure and their home-based business, as they could not make payments for the refinanced loan and pay the creditors who were supposed to have been paid off with the funds taken by Kessedjian.
            If convicted of the charges, Kessedjian faces a maximum statutory penalty of 20 years in prison, a $250,000 fine, and up to three years supervised release. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.
            This case is the product of an investigation by the United States Secret Service and the Tuolumne County Sheriff’s Office. Assistant United States Attorney Michele Thielhorn is prosecuting the case.
            The charges are only allegations, and the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.
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FORMER TITLE CLOSER GET 4 YEARS IN PRISON......

Eric Koppelman, 49, Hauppauge, New York, a former title closer, was sentenced to four years in prison for his role in a scheme to steal over $6 million in proceeds of home mortgage loans. The stolen funds were intended to be used to pay off existing mortgages on the properties.  on June 1, 2010, Irshad Ramzan, a co-conspirator and former mortgage broker who supervised the operations of Queens, New York based Platinum Funding, was sentenced to 84 months in prison for his role in the scheme to steal the proceeds of home mortgage loans, as well as in a separate scheme to obtain home mortgage loans from banks under false pretenses by arranging straw purchases of the homes and generating tens of thousands of dollars in unwarranted fees for Ramzan and Platinum Funding. According to the Information to which Koppelman pleaded guilty, statements made in Manhattan, New York, federal court, and other documents filed in this case: Koppelman and Ramzan engaged in a scheme to steal the proceeds of home mortgages from 2004 through October 2005. To further their scheme, Koppelman and Ramzan had checks issued to one or more companies controlled by Koppelman and Ramzan, which funds represented all or part of the loan proceeds that were to be used to satisfy mortgages. To hide their fraud, Koppelman and Ramzan lied to financial institutions providing the home mortgage loans and falsely stated that part of the proceeds of the mortgage loans were being used to satisfy the seller's mortgage loan. Instead, these funds were being used by Koppelman and Ramzan for their own purposes. The sentence was imposed yesterday by United States District Judge Paul G. Gardephe in Manhattan, New York federal court. Ramzan's sentence was imposed by United States District Judge Naomi Reice Buchwald in Manhattan, New York federal court. In addition to the prison term, Koppelman was sentenced to five years of supervised release and was ordered to pay over $6 million in restitution and to forfeit various property. Preet Bharara, the United States Attorney for the Southern District of New York, made the announcement. Mr. Bharara praised the investigative work of the United States Postal Inspection Service and thanked them for their work in this case. He also thanked Ticor Title Insurance Company of Florida for its assistance in the investigation. These cases are being prosecuted by the Office's Complex Frauds Unit. Assistant United States Attorney Daniel Levy is in charge of the prosecutions.

Title escrow agent sentenced for stealing using money to pay personal debts








Sandy P. Kim, 43, Ellicott City, Maryland, was sentenced by U.S. District Judge Ellen L. Hollander to two years in prison followed by three years of supervised release for wire fraud. Judge Hollander also entered an order that Kim forfeit $684,283, the amount Kim stole from mortgage escrow accounts. She was charged via criminal information on June 4, 2012.
As previously reported by Mortgage Fraud Blog, and according to her plea, from 2005 to 2008, Kim was an agent for a title insurance company, and was the owner and chief operating officer of EK Settlements. Kim was required to maintain an escrow account for EK Settlements in order to receive real estate settlement funds from buyers and pay off mortgage lenders. Starting in 2006, Kim stole money from the escrow accounts to pay her personal bills, including taxes and private school tuition for her children. She also used the stolen funds to pay prior loans she had failed to pay off, in order to forestall discovery of her theft. On August 20, 2007, Kim performed a closing for a client and caused $175,136 to be wired to an account she controlled. Instead of paying off the client's prior mortgage, Kim used the money for her own purposes. To conceal the theft, she made several monthly mortgage payments to the prior mortgage lender. In 2008 when the title insurance company began to suspect problems and sought to audit her accounts, Kim submitted fraudulently altered bank records. When subsequently interviewed by law enforcement, she admitted to the scheme. Kim stole a total of $684,283 from the escrow accounts which were intended to pay off mortgage lenders. The sentence was announced by United States Attorney for the District of Maryland Rod J. Rosenstein and Special Agent in Charge Stephen E. Vogt of the Federal Bureau of Investigation. The Maryland Mortgage Fraud Task Force was established to unify the agencies that regulate and investigate mortgage fraud and promote the early detection, identification, prevention and prosecution of mortgage fraud schemes. This case, as well as other cases brought by members of the Task Force, demonstrates the commitment of law enforcement agencies to protect consumers from fraud and promote the integrity of the credit markets. Information about mortgage fraud prosecutions is available www.justice.gov/usao/md/Mortgage-Fraud/index.html. The announcement is part of efforts underway by President Obama's Financial Fraud Enforcement Task Force (FFETF) which was created in November 2009 to wage an aggressive, coordinated and proactive effort to investigate and prosecute financial crimes. With more than 20 federal agencies, 94 U.S. attorneys' offices and state and local partners, it's the broadest coalition of law enforcement, investigatory and regulatory agencies ever assembled to combat fraud. Since its formation, the task force has made great strides in facilitating increased investigation and prosecution of financial crimes; enhancing coordination and cooperation among federal, state and local authorities; addressing discrimination in the lending and financial markets and conducting outreach to the public, victims, financial institutions and other organizations. Over the past three fiscal years, the Justice Department has filed more than 10,000 financial fraud cases against nearly 15,000 defendants including more than 2,700 mortgage fraud defendants. For more information on the task force, visit www.stopfraud.gov. United States Attorney Rod J. Rosenstein thanked the FBI for its investigative work and commended Assistant U.S. Attorney Barbara S. Sale, who prosecuted the case.

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