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US Supreme Court Rules on Mortgage Fraud Restitution Calculations

WASHINGTON (AP) — The U.S. Supreme Court has clarified how restitution must be computed in mortgage fraud cases. The justices in a unanimous decision Monday said that restitution to a bank that has been defrauded must be calculated based on the value of property when it is actually sold, and not the earlier date on […]

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Mortgage Fraud Fugitive Ronnie Duke Captured – Then Assaults Prosecutor

DETROIT, MI — A Fenton man convicted of what prosecutors called the largest mortgage fraud in state history is accused of attacking a federal prosecutor after he was apprehended by U.S. Marshals for failing to show up and serve his prison sentence. Ronnie Edward Duke was in court Monday, Feb. 24, following his arrest by […]

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Seven charged in Florida in $49.6 million mortgage fraud scheme

United States Attorney Wifredo A. Ferrer announced Monday the unsealing of a 15-count indictment charging seven South Florida residents in a mortgage fraud scheme that resulted in the approval of approximately $49.6 million in fraudulent loans, according to the Department of Justice. Ferrer, the U.S. Attorney for the Southern District of Florida, was accompanied at a press conference […]

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Defendants in Mortgage Relief Scam – $3.6 Million Settlement with FTC

A mortgage modification scam that took advantage of distressed consumers facing possible foreclosure has reached a $3.6 million settlement with the Federal Trade Commission. This settlement represents the FTC’s largest judgment to date against a purported mortgage assistance relief provider. As part of the settlement, the South Florida-based defendants will surrender their assets and be […]

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Maryland Woman Pleads Guilty to Mortgage and Bank Fraud Charge

BALTIMORE — Jill Dail, 59, of Cambridge, pleaded guilty Tuesday to bank fraud in connection with a scheme in which she and her brother, Jeffrey Dail, fraudulently obtained mortgage loans in the names of family members, using the proceeds for their own benefit. The guilty plea was announced by U.S. Attorney for the District of […]

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Former Virginia Jeweler Gets 4+ Years in $20 Million Mortgage Fraud Scheme

The case involved dozens of homes in the region and cost lenders millions. A former Ashburn, VA man who pleaded guilty to involvement in a mortgage fraud scheme has been sentenced to more than four years in prison and ordered to pay about $6 million is restitution. In all, a federal judge sentenced jeweler Robert […]

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