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Missouri Man Convicted in Equity-Stripped Scheme

In the following press release from the U. S. Attorney’s Office for the Eastern District of Missouri it was announced that Jay Dunlap was convicted of defrauding his ex-partners and banks and other lenders in an equity-stripping scheme. According to testimony presented at trial, Dunlap convinced a partner to put up more than $270,000 to […]

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Missouri Real Estate Agent Headed to Prison

A Blue Springs real estate agent will spend three years in federal prison for her role in an $11 million mortgage fraud scheme. A federal judge Wednesday sentenced Leann R. Turner, 44, of Blue Springs, to three years in prison without parole and ordered her to pay more than $4.9 million in restitution. Another former […]

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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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Missouri Lawyer Arrested for Allegedly Submitting False Loan Application and ID Theft

Jeffrey Witt, St. Charles, Missouri, was arrested on an indictment charging him with falsifying documents to obtain a line of credit on a St. Louis County, Missouri, home which did not belong to him, as well as aggravated identity theft. According to the indictment issued by the federal grand jury, during September 2013, Witt, an […]

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Missouri Mortgage Broker Indicted for Fraud

A mortgage broker from St. Peters has been indicted on federal charges for falsifying documents and information on two mortgages, the U.S. Attorney’s office said Friday. Robert Poynter, 50, owned and operated branch offices of First Continental Mortgage, America One Finance LLC and A-1 Closing Services in St. Charles, prosecutors said. On one loan for […]

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Missouri Mortgage Broker Pleads Guilty to Fraud Conspiracy

Jason Rauschelbach pled guilty to charges involving his conspiracy to defraud the United States and several banks through his business, The Mortgage Store, Inc., in 2008. According to court documents, Rauschelbach was the CEO of The Mortgage Store, Inc. and the president of Title America. By 2008, TMS was a major mortgage brokering business with […]

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