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Head of Virginia Settlement Company Pleads Guilty to Over $2 Million Short Sale Mortgage Fraud

ALEXANDRIA, Va. – Jose Marinay, 52, of Annandale, Virginia, pleaded guilty today to conspiracy to commit wire fraud for his involvement in a short sale mortgage fraud conspiracy. Dana J. Boente, United States Attorney for the Eastern District of Virginia; Valerie Parlave, Assistant Director in Charge of the FBI’s Washington Field Office, and Thomas J. […]

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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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Virginia Mortgage Broker Sentenced to 38 Months in Prison for Involvement in Mortgage Fraud Scheme

Kil Seok (“Michael”) Seo, 49, formerly of Fairfax, Virginia, was sentenced today to 38 months in prison for engaging in bank fraud and aggravated identity theft as part of a mortgage fraud scheme. Seo also was ordered to pay restitution of $894,600 to several banks that were the victims of Seo’s criminal conduct. Dana J. […]

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Former Virginia Loan Officer Sentenced in Mortgage Fraud Scheme

ALEXANDRIA, VA—Ging—Hwang “Felicia” Tsoa, 59, of Broadlands, Virginia, was sentenced today to 30 months in prison, followed by three years of supervised release, for her role in a mortgage fraud conspiracy that involved approximately 36 properties in Northern Virginia and nearly $20 million in fraudulently obtained loans. Tsoa also was ordered to pay approximately $1.4 […]

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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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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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