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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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Major Trouble For Wall Street in 2014 on Mortgage Fraud Front?

The problems for Wall Street may just be getting started…. In the last three years, the six largest banks by assets on Wall Street have paid out over $85 billion in settlements related to the mortgage crisis. That breaks down to $40 million per day since March 2008, when JPMorgan Chase acquired Bear Stearns. While […]

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FinCen Announces Decline in Mortgage Fraud

Are things in the world of mortgage fraud getting better – or just changing? Approximately 69,000 reports of potential mortgage fraud surfaced in 2012, a steep 25% decline from 92,000 reports in 2011, Jennifer Shasky Calvery, director of the Financial Crimes Enforcement Network, said Monday. But this steep drop should not be construed as improvement across […]

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St. Louis Man Indicted in Reverse Mortgage Fraud Scheme

A St. Louis man was indicted for allegedly scheming to defraud an elderly woman using the proceeds from her reverse mortgage, according to the Department of Justice (DOJ). Larry Bradshaw, 55, was indicted by a federal grand jury on one felony count of wire fraud and one felony count of theft of government money for obtaininga […]

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Miami Broker Guilty in Reverse Mortgage Fraud Scam

A Miami title agent and former mortgage broker was found guilty Monday for her role in a reverse mortgage fraud scheme, reports the Department of Justice. A federal jury found Yesenia Pouparina, 40, guilty of four counts of wire fraud and once count of mail fraud for her role in securing a fraudulent reverse mortgage […]

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