Timothy Thurman [Bar #216048], 37, Altadena, California, resigned on November 2, 2009, with charges pending following his arrest by FBI agents in October 2009. Thurman's practice, Damon Clark, 32, Grand Rapids, Michigan and Reginald Tardy, Jr., 31, Ferndale, Michigan, each pled guilty in late September 2009, of one count of Racketeering and were sentenced by Judge David Hoort in Montcalm County Circuit Court. Clark was sentenced to 15 months to 20 years in prison, Tardy was sentenced to 18 months to 20 years in prison and they were ordered to pay restitution totaling $131,113. A third man,
Read More...]]> 2009-11-13T09:57:07Z http://www.mortgagefraudblog.com/index.php/weblog/loan_officers_sentenced_for_operating_west_michigan_mortgage_fraud_ring_sca/ http://feedproxy.google.com/~r/MortgageFraudBlog/~3/SyKrFKD-BJ0/ Mortgage Fraud Types, Investment Scams, Mortgage Fraud Locations, Wisconsin Jeffrey D. Stadelmann, 47, Menomonee Falls, Wisconsin, has been indicted on charges of wire fraud in connection with a fraud scheme he is alleged to have conducted between March 2002 and March 2008. If convicted of this charge, Stadelmann would face a maximum term of imprisonment of 20 years and a fine not to exceed $250,000.

Markus Bailey and Clarence Lewis III, 46, Houston, Texas, has been sentenced to 15 years in federal prison without parole for running a mortgage fraud scheme. United States District Judge Lynn N. Hughes handed down the prison sentence.

As previously reported by Mortgage Fraud Blog, Lewis was convicted May 13, 2009, of conspiracy to commit mail and wire fraud and four counts of wire fraud by Judge Hughes following a …

Read More...]]> 2009-11-11T09:55:59Z http://www.mortgagefraudblog.com/index.php/weblog/mortgage_and_real_estate_broker_sentenced_to_prison_for_mortgage_fraud/ http://feedproxy.google.com/~r/MortgageFraudBlog/~3/LLE_zDRpYro/ Mortgage Fraudsters, Third Party Ringleader, Mortgage Fraud Locations, Minnesota Shelley Lee Milless, 38, Chaska, Minnesota, pleaded guilty in federal court to preventing the Internal Revenue Service (IRS) from collecting more than $900,000 in employment taxes from her ex-husband's mortgage brokerage company. Milless pleaded guilty before United States District Court Judge Paul Magnusonto one count of conspiracy to impair and impede the lawful functioning of the IRS. Milless was charged on October 30, 2009.

In her plea agreement, Milless admitted …

Read More...]]> 2009-11-11T09:03:50Z http://www.mortgagefraudblog.com/index.php/weblog/woman_indicted_for_using_mortgage_company_to_defraud_irs/ http://feedproxy.google.com/~r/MortgageFraudBlog/~3/LknJwSXqggw/ Mortgage Fraudsters, Third Party Ringleader, Mortgage Fraud Types, Identity Fraud, Mortgage Fraud Locations, California Martin Quoc Pham, 28, Garden Grove, California, has been sentenced to 132 months in federal prison for orchestrating two identity theft schemes in which he obtained personal information from hundreds of consumers and used the data in an attempt to fraudulently obtain approximately $1.5 million from home equity lines of credit (HELOCs) and credit cards accounts. Pham was sentenced by United States District Judge George H. Wu. In addition to imposing the 11-year …

Read More...]]> 2009-11-11T09:01:23Z http://www.mortgagefraudblog.com/index.php/weblog/california_man_sentenced_for_heloc_fraud/ http://feedproxy.google.com/~r/MortgageFraudBlog/~3/kis8N2jj-iA/ Mortgage Fraud Locations Ralph Cioffi and Matthew Tannin, both hedge fund managers at Bear Stearns, have been found not guilty after jury deliberations that lasted less than two days. The two men were acquitted of securities, wire and mail fraud according to media reports. 

In June 2008, an indictment was unsealed in a Brooklyn, New York, federal court charging Ralph Cioffi, 52, the founder and senior portfolio manager of two Bear …

Read More...]]> 2009-11-10T23:45:07Z http://www.mortgagefraudblog.com/index.php/weblog/bear_stearns_managers_found_not_guilty_of_fraud/ http://feedproxy.google.com/~r/MortgageFraudBlog/~3/OmPRiN4Ilvw/ Mortgage Fraud Locations, Georgia, FraudLine

Stories referenced in this week's edition of Fraudline:

Kawana Melvin Faces Off with the Georgia Department of Banking and Finance (she doesn't win ...)

Either Does Edward William Farley ....