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Michigan Businessman Sentenced In Mortgage Fraud Case

 A Grosse Ile businessman will spend the next seven-and-a-half years in jail after being convicted of orchestrating millions of dollars of fraudulent mortgage transactions. Richard Dean Woolsey, 42, received his sentence this week, which also includes three years of supervised release. He was convicted last October on conspiracy to commit wire fraud and wire fraud charges after a […]

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Michigan Man Sentenced for $800K Mortgage Fraud

An Ada man has been sentenced for a 2007 mortgage fraud that netted him and others more than $800,000. Seamus Dillon was sentenced Thursday to two years in federal prison, as well as three years of supervised release, according to the U.S. Attorney’s Office. He was also ordered to pay $755,693 in restitution. In 2007, […]

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Michigan Fugitive Extradited to Face Real Estate Investment Charges

Joel Wilson, 31, Saginaw, Michigan, has been successfully extradited after fleeing justice for more than a year in Europe.Wilson faces nine felony charges dealing with three specific Michigan investors. Wilson allegedly told investors that he would use their funds to purchase distressed properties, refurbish them, and then sell for a profit. Wilson will be transported from Frankfurt, Germany to […]

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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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Michigan Mortgage Broker Sent to Prison for Fraud

Firas “Russ” Bachi, a 41 year old mortgage broker based in Farmington Hills, Michigan was sentenced to 2 years of prison last Wednesday with an additional 24 months of supervised release for a bank fraud schemes that cost JPMorgan Chase 10 mortgage loans. Bachi was also ordered by US District Judge Bernard A. Friedman to […]

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Jury Convicts Michigan Mortgage Fraudster of Running Straw Buyer Scam

Albert Greer, Sr., Shelby Township, Michigan, was found guilty on March 20, 2014, of conspiracy to commit bank fraud and of aiding and abetting bank fraud. They jury deliberated for three hours before returning the guilty verdicts, concluding a trial that began on March 11, 2014, before United States District Judge Stephen J. Murphy, III. […]

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