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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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Georgia Real Estate Investor Admits Bid Rigging and Fraud at Foreclose Auctions

Mohamed Hanif Omar, a Georgia real estate investor, pleaded guilty to his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia. The defendant made and received payoffs and diverted money to co-conspirators that would have gone to mortgage holders and others by holding second, private auctions […]

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Georgia Real Estate Investor Pleads Guilty To Bid Rigging And Fraud At Public Real Estate Foreclosure Auctions

A Georgia real estate investor pleaded guilty on Thursday for her role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Georgia, the Department of Justice announced. Felony charges were filed on Dec. 19, 2013 in the U.S. District Court for the Northern District of Georgia in Atlanta […]

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Georgia Man Gets 4 Years for Running Advanced Fee Loan Scam

Jamal E. Lawson, Sr., 44, Duluth, Georgia, who victimized others in a so-called advance-fee loan fraud scheme, was sentenced to more than four years in federal prison after being convicted at trial. The defendant defrauded small businesses and churches nationwide, including three churches in Chicago, Illinois. Prosecutors said that the defendant, “fleeced noble church pastors […]

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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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Taylor Bean, Home America Mortgage Settle $320 Million FCA Suit

Taylor Bean & Whitaker Mortgage Corp. and Home America Mortgage Inc. have agreed to pay over $320 million to settle a False Claims Act whistleblower lawsuit alleging they falsified mortgage applications to secure federally funded insurance for loans that ultimately defaulted, the plaintiffs’ attorneys announced on Monday. The complaint was filed in 2006 by former […]

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