Tampa Mortgage Fraud – Federal Prison

 

Mortgage Fraud, Florida Mortgage Fraud, Florida Mortgage Fraud Defense Attorney

Mortgage Fraud Defense Attorney


Lawyer may be the feds next Mortgage Fraud Target


Tampa Federal Criminal Defense Expert notes that the former president of a mortgage company was sentenced to five years and three months and an officer was sentenced to three years and four months in federal prison for their roles in a $79 million Mortgage Fraud Ponzi Scheme. . In addition to restitution, they signed a forfeiture of assets agreement for another $79 million.

A lawyer may be the feds next target. Both defendants had their sentences reduced for the cooperation they have given the government. One defendant allowed federal agents to record telephone calls. The other defendant “wore a wire during a meeting with a Philadelphia lawyer so investigators could gather information about the lawyer being an accessory after the fact” according to published reports in the Tampa Tribune.

The banks lost $68.5 million and the government lost about $9.5 million between 1999 and 2001. United States District Judge, James Whittemore called the crime “a fraud of mammoth proportions.”
Source: October 26, 2009 Tampa Tribune

 


Fast, Easy, and Free Phone Consultation directly with a Board Certified Criminal Trial Lawyer. I will personally speak to you.


 

 

Click To Call For Help

 

Florida Mortgage Fraud Defense Attorney, Florida Mortgage Fraud, Mortgage Fraud, Tampa Defense Attorney

What is the Definition of Mortgage Fraud?

Florida Mortgage Fraud Attorney, Florida Mortgage Fraud Defense Lawyer, False Statements in Loan Applications 18 u.s.c. § 1014, False Statements 18 u.s.c. § 1001 , Tax Fraud 26 u.s.c. § 7201 et seq., Bank Fraud 18 u.s.c. § 1344 , Wire Fraud 18 u.s.c. § 1343, Mail Fraud 18 u.s.c. § 1341, Conspiracy 18 u.s.c. § 371,

Florida Mortgage Fraud Attorney, Florida Mortgage Fraud Defense Lawyer


Florida Mortgage Fraud Defense Attorney


Florida Federal Criminal Defense Attorney W.F. ”Casey” Ebsary reviewed an interesting piece on Fraud by an experienced white collar criminal defense attorney. One  attorney recently published a summary called “The Current State of Mortgage Fraud Prosecution.” The complete work can be found in Criminal Litigation, Fall 2009, Volume 10, Number 1, American Bar Association, Section of Litigation.

Mortgage Fraud? Tell Me Your Story 813-222-2220


What is the Definition of Mortgage Fraud


The writer defines Mortgage Fraud as “a material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan.” There are several fact patterns that generate state and federal criminal cases.

What are the Types of Mortgage Fraud?


  • Mortgage appraisal fraud
  • Mortgage equity skimming
  • Straw purchasing schemes
  • Mortgage occupancy fraud



United States Code Sections frequently used: 

Conspiracy 18 u.s.c. § 371
Mail Fraud 18 u.s.c. § 1341 
Wire Fraud 18 u.s.c. § 1343 
Bank Fraud 18 u.s.c. § 1344 
Tax Fraud 26 u.s.c. § 7201 et seq. 
False Statements 18 u.s.c. § 1001 
False Statements in Loan Applications 18 u.s.c. § 1014.

The FBI notes and federal criminal defense attorney Halim concurs there are some emerging trends in  prosecutions including “reverse mortgage schemes, credit enhancement schemes, builder bailout schemes, condominium conversion schemes, foreclosure rescue schemes, serial property flipping, and short sales schemes.” The FBI has now commenced “Operation Malicious Mortgage.” The feds will pursue lending fraud, foreclosure rescue schemes, and mortgage-related bankruptcy cases, the article notes.

 


Source: The Current State of Mortgage Fraud Prosecution, Criminal Litigation, Fall 2009, Volume 10, Number 1, American Bar Association, Section of Litigation.

Tampa Federal Criminal Defense Attorneys, Tampa Federal Criminal Defense Lawyer



Ratings and Reviews

Board Certified Criminal Trial Lawyer
Google +
yelp