NY Mortgage services provider convicted of $38 million fraud conspiracy.

New York-based mortgage elimination company owner Jacqueline Graham was convicted of participating in a conspiracy. This conspiracy included bank fraud, wire fraud, and mail fraud. The targets of the scheme was homeowners with problem mortgages. All this went down during the deep crisis in the housing market. The money charging various fees from the [...]

Salt Lake City fraud recidivist gets 7 year prison sentence for $9m Telemarketing scam.

In July 2018, a career criminal from Utah received an additional seven year prison sentence. This time for a telemarketing scam. The perpetraitor, Chad Gettel, created a scam that affected more than 10,000 people. According to prosecutors, these victims suffered losses of about $9 million. Gettel was already serving prison time for a mortgage [...]

Has anything changed 10 years on from the Lehman Brothers crisis?

September 2018 marked the 10-year anniversary of the Lehman Brothers bank collapse. At the time,  was the fourth largest investment bank in America. But it had almost as much debt ($619 billion) as it had in assets ($639 billion). Dubbed, the “Lehman Weekend”, the world witnessed the largest bankruptcy in US history. It led to [...]

Mortgage fraud gets California native prison sentence and $10 million fine.

A man from Huntington Beach, California was found guilty of conspiracy and wire fraud. As a result he was sentenced to six years and six months in prison. He also was ordered to pay $10 million in restitution. The perpetraitor's name is Maher Obagi. He was found guilty of these charges for playing a [...]

Are you thinking about a reverse mortgage? – Think again!

Six years ago, Kenneth and Sadako Miller were struggling to pay their bills. Then they saw an advert on TV that answered their money woes. Kenneth was a disabled Vietnam Veteran and lived with his Japanese wife in Gardner, Massachusetts Both were Seniors. This was a product which promised to turn the value of [...]

Mortgage fraud—two Nevada men convicted.

Dustin Lewis and Brian Sorensen both conspired to defraud OneWest Bank. The pair allegedly planned and implemented a scheme whereby they could avoid foreclosure, and Lewis could retain ownership of his five-bedroom home in Henderson. As part of their scheme, Lewis submitted a false short sale application to OneWest Bank. This application asked bank [...]