Six people have been indicted on federal charges involving an alleged $3.5 million mortgage fraud scheme while working for the Lighthouse Financial Group in the Portland metro area. Joel Rosabal and Chad Amsden, both 31, were named in the first of two indictments, while the second indictment listed Amsden, Timothy Hills, 30, Misti Wallis, 32, [...]
13 people, including a former loan officer with Park Mortgage Group Inc., were charged earlier this week with conspiracy to commit wire fraud in connection with a mortgage fraud scheme. Federal prosecutors said Kimberly Wilson, 37, of Shaker Heights, who was employed by Park Mortgage at the time of the offenses, recruited straw buyers to [...]
The Securities and Exchange Commission (SEC) today charged a prominent Miami Beach-based businessman and philanthropist with fraud for orchestrating a $900 million offering fraud and Ponzi scheme. The SEC alleges that Nevin K. Shapiro, the founder and president of Capitol Investments USA, Inc., sold investors securities that he claimed would fund Capitol’s grocery diverting business. [...]
A federal judge froze the assets of Renee Marie Brown after the SEC accused her of ripping off clients by persuading them to invest in a mysterious vehicle known as “ Fund X. ” U.S. District Judge Donovan W. Frank issued a temporary restraining order against Brown and her company, Investors Income Fund X LLC. [...]
The owners of a defunct mortgage lender and a servicing company in New Hampshire have been indicted on federal fraud charges. A grand jury has indicted Scott Farah, owner of Financial Resources Mortgage in Meredith, on charges of mail fraud and wire fraud. Donald Dodge, who ran the associated servicing company CL&M, was indicted on [...]
Bart S. Posey, owner of a pair of Robertson County businesses accused of selling bogus health insurance policies to more than 12,400 people nationwide, was lining his own pockets with premiums paid by unsuspecting customers, court documents filed this week by state regulators say. He bought automobiles and real estate, and even made thousands in [...]
3 Amherst men have been charged with orchestrating a Ponzi scheme. Guy Gane, Jr, 55, James Lagona, 50, and Ian Campbell Gent, 58 face counts of mail fraud and conspiracy to commit mail fraud. Each charge carries a maximum penalty of 20 years in prison, and / or fines up to 5 million dollars. ” [...]
A prominent Albuquerque real estate executive used his reputation to defraud about 600 investors in New Mexico and elsewhere out of an estimated $80 million in a Ponzi scheme, the Securities and Exchange Commission alleged in a federal lawsuit. In the complaint, filed Tuesday, the SEC accused Douglas F. Vaughan of fraud and selling unregistered [...]
The commonwealth’s attorney said a number of people have been scammed by this insurance fraud and it’s suspected there are many more. It was a couple of years ago when a company called ” Health PMO ” began selling policies, but the prosecutor’s office said when policy holders tried get reimbursed for medical expenses, they [...]
Innovative Marketing Ukraine (IMU), a fraud operation, was at the center of a complex underground corporate empire with operations stretching from Eastern Europe to Bahrain; from India and Singapore to the United States. A researcher with anti-virus software maker ” McAfee Inc ” who spent months studying the company’s operations estimates that the business generated [...]
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