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Tennessee Man Charged with Using False Documents to Obtain Loan

Jayesh Dahyabhai Patel, 48, Knoxville, Tennessee, has been indictment and charged with five counts of bank fraud. Patel allegedly provided false income tax returns for himself and his businesses to induce First Community Bank to issue the loan. Patel appeared in court on May 29, 2014, before U.S. Magistrate Judge Dennis Inman and pleaded not […]

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Texas Real Estate Agent Sentenced to Prison for Conspiracy to Defraud Investors and Lenders

Andrew Brosnac, 48, Mansfield, Texas, a real estate agent and investment consultant, was sentenced after pleading guilty to conspiracy to commit bank fraud and wire fraud in connection with the sale and leaseback agreements in Pennsylvania, New York, West Virginia, North Carolina, South Carolina, Alabama, South Dakota, California, Oregon, and Wyoming. Between 2006 and 2008 […]

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Indiana Real Estate Agent Sent to Prison for Inducing Lenders to Approve Fraudulent Loans

Eloise Blackmon, Gary, Indiana, was sentenced to 10 months in prison for her role in a mortgage fraud scheme. Upon release, Blackmon was also sentenced to supervised release for a period of two years. The scheme involved the purchase and sale of up to 25 properties. The defendant and her co-conspirators submitted false and fraudulent […]

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Washington Guilty to Stealing $300K From Mother, Reverse Mortgage Fraud

A former Kent City council member pleaded guilty today to seven counts of first-degree theft and mortgage fraud for stealing nearly $300,000 from his mother’s bank account to shore up his failing business and fund vacations. Kenneth D. Sharp, 67, could face more than 3 1/2 years in prison when he is sentenced June 20. However, […]

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Florida Woman Sentenced in $24 Million Mortgage Fraud Case

U.S. Attorney William J. Hochul, Jr. announced today that Michelle Vinas, 55, of Florida, who was convicted of financial institution fraud affecting M&T Bank, was sentenced to 18 months in prison and ordered to pay restitution totaling $423,434.98 by U.S. District Court Judge Richard J. Arcara. Assistant U.S. Attorney Trini E. Ross, who handled the […]

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North Carolina Real Estate Broker Sentenced For Mortgage Fraud

A 49-year-old real estate broker was sentenced in federal court Wednesday to 3.5 years in prison and ordered to pay $1.6 million for participating in a mortgage fraud scheme during the recession, federal prosecutors announced. Mark Henry Tkac of Raleigh pleaded guilty to conspiracy to commit mail, wire and bank fraud for his role in […]

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