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FBI Warning Notice
2007-07-02 18:12:00
We did not cover this at the time but due to the level of enquiries we are receiving about it please find attached a link to the FBI Mortgage Fraud Warning Notice on the FBI website and a PDF version held on this site. In addition a permanent link can be found in the Favorite Links section of the menu bar.The Notice was developed in partnership with the Mortgage Bankers Association (MBA), here is the information/instructions on its use taken from the MBA website:     &nb sp;      &n bsp; “The use of this Warning Notice is completely voluntary. It is the lender’s decision as to if and how the form should be worked into the loan origination process. Lenders may wish to consider using the Warning Notice for all mortgage secured transactions and in all processes that can prevent fraudulent activity from occurring.     & nbsp;        The Mortgage Fraud Warning N...

Recent case updates
2007-07-02 04:44:00
The following older entry was updated today.Detroit deed forger sentenced to prison term
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Texas broker/developer indicted in loan fraud allegations
2007-07-01 22:51:00
In the following press release United States Attorney Don DeGabrielle announced that a federal grand jury has indicted a Clear Lake area real estate developer/broker for bank fraud and making false statement on loan and credit application to borrow millions of dollars from various Houston area banks,.      RICHARD DOUGLAS BELL, 48, a Clear Lake area real estate developer and loan broker, is charged in a six count indictment returned under seal in Houston on Thursday, June 28, 2007.  The indictment was unsealed today following Bell’s arrest of the defendant, The defendant this morning by FBI agents at his League City home.  Bell is expected to appear before U.S. Magistrate Judge Frances Stacy today for arraignment on the charges. According to the allegations in the indictment, Richard Bell was a mortgage broker and self-styled real estate developer who operated a residential mortgage office in the Clear Lake area from 2000, the same year Bell was d...
More About: Fraud , Developer , Loan , Texas , Indictments

8 more indicted in another Franklin County mortgage fraud case
2007-06-29 23:14:00
On June 28, 2007 Franklin County Prosecuting Attorney Ron O’Brien filed two separate indictments in relation to mortgage fraud schemes. The schemes were investigated by the Central Ohio Mortgage Fraud Task Force which is spearheaded by Columbus Police Detective Ed Montgomery. In the second matter, Case No 07CR 06-4568, Prosecutor O’Brien and Ohio AG Marc Dann announced in a joint press release the 16 count indictment of: Steven E. McClure Martha L. Smith Entour Ferguson Michael K. Anderson Samantha M. Vorhees Shaun Ranson Nikkia L. Norton (loan officer) James R. Wilson aka J. Riley Wilson II (loan officer) James D. Hooks J&D Contracting and/or Home Remodel and Design They are accused of engaging in a pattern of corrupt activity, Forgery and Money Laundering. These matters involved falsified mortgage application packages sent to various lenders on the Ohio properties listed below: 1470 S. High Street, Columbus 1251 Mooberry, Columbus 1853 Oak Street, Columbus 77...
More About: Mortgage Fraud , Indictments

4 indicted in Franklin County (OH) fraud allegations
2007-06-29 22:59:00
On June 28, 2007 Franklin County Prosecuting Attorney Ron O’Brien filed two separate indictments in relation to mortgage fraud schemes. The schemes were investigated by the Central Ohio Mortgage Fraud Task Force which is spearheaded by Columbus Police Detective Ed Montgomery. In the first matter, Case No 07CR 06-4564, Prosecutor O’Brien and Ohio AG Marc Dann announced in a joint press release the 22 count indictment of: Kim L. Anderson Taisean C. Glover Paula A. Anderson Joseph L. Jamison PSI, Inc American Midwest Properties and American Mid-west Distribution LLC . They are accused of engaging in a pattern of corrupt activity, Forgery , Money Laundering and Tampering with Evidence. These matters involved falsified mortgage application packages sent to various lenders on the Ohio properties listed below: 1735 Parsons Avenue, Columbus 7137 Optimara Drive, Pickerington 873-875 Kelton Avenue, Columbus 69 Dakota Avenue, Columbus 296 Olentangy Ridge Place, Powell. This...
More About: Indictments , Flipping

Three indicted for ID Theft, used stolen mortgage credit reports
2007-06-29 22:35:00
In the following press release United States Attorney for the District of Maryland Rod J. Rosenstein announced that a federal grand jury indicted Nekia Ishawn Hunter, age 28; Lavon Caldwell, age 25; and Faye Marie Jones, age 51; all of Baltimore, today for conspiring to commit bank fraud and aggravated identity theft arising from a scheme to use stolen personal identity information to fraudulently purchase merchandise and cars. According to the 11-count indictment, from August to December 2006, the defendants purchased credit reports stolen from a Baltimore mortgage company containing the names, social security numbers and other personal identification information of persons who had applied for mortgages. Hunter allegedly produced fraudulent driver’s licenses in the names of the individuals on the credit reports, placed photos of her conspirators on the fraudulent driver’s licenses, and then gave the driver’s licenses to her conspirators to use to fraudulently pro...
More About: Credit , Stolen , Mortgage , Indictments

Recent case updates
2007-06-29 21:50:00
The following entries were updated today.Police arrest wanted couple suspected of Bay Area thefts 10 year sentence handed down in “Operation Whose House” case Cooke Christopher sentenced in San Clemente scheme 
More About: Updates , Case , Recent

Man indicted in scheme that targetted the elderly
2007-06-29 21:15:00
This entry concerns events that occured in May, however we missed it and others have not reported it so: In the following press release Cuyahoga County Prosecutor Bill Mason announced that Jerry A. Ponsky was arraigned for operating a criminal enterprise, spanning across Cuyahoga and Ashtubula Counties, that targeted the elderly. He and four others fraudulently obtained $1.7 million in loans from 26 victims during 2004 and 2005. Ponsky, who is currently in prison, pled not guilty, received a $50,000 bond, and was assigned to Judge Kilbane-Koch. The other four were arraigned on an earlier date and given $10,000 bonds and assigned to Judge Kilbane-Koch. Jerry Ponsky, 55, of Chagrin Falls, operated Brays Enterprises, a home remodeling and home repair company. Ponsky’s criminal enterprise involved several individuals, a mortgage broker, and a fraudulent appraiser. It began by orchestrating the placement of flyers on the homes of the elderly in Cuyahoga and Ashtabula Counties. H...
More About: Ohio , Indictments , Elderly , Chem

Woman convicted of theft from a Michigan title agency
2007-06-29 21:04:00
In the following press release Michigan Attorney General Mike Cox today announced that Nicole Athey, a 38-year-old businesswoman from Greenville, Michigan, was convicted of racketeering and embezzlement involving more than $1 million that was taken over four years from the Crowne Title Agency . “People in positions of trust owe a duty to those who entrust them with their money,” said Cox. “Let today’s sentence be a reminder that when trust is betrayed, they will be prosecuted.” From July 2002 through February 2006, Athey was a partner in the Crowne Title Agency located in Greenville, Michigan. During the time that Athey was a partner in the agency, she was responsible for maintaining the escrow account which contained the money used by clients of the agency to purchase and sell real estate. The investigation, led by the Michigan State Police and the Attorney General, revealed that Athey used her position of trust to take money from the escrow account...
More About: Woman , Convictions , Theft

Miami investor pleads guilty to fraud in relation to a $23.7 million loan
2007-06-29 19:54:00
In the following press release R. Alexander Acosta , United States Attorney for the Southern District of Florida , and Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation, announced that defendant Richard Layfield pled guilty before United States District Court Judge Alan S. Gold on Monday, June 11, 2007 to one count of bank fraud. Layfield faces a maximum statutory term of imprisonment of thirty (30) years. According to the charges, between February 1990 and July 19, 1994, four judgments totaling close to $17,000,000 were entered against Layfield. The creditors in these judgments were Halfacre Construction Company, Landmark Realty, Total Bank, and American Security Bank. These judgments were never satisfied by Richard Layfield. In April 1999, Richard Layfield applied for a loan from Fremont Investment & Loan . Funds from the loan were to be used for the purchase and renovation/reconstruction of properties he was purchasing on Ocean Drive in Miami Bea...
More About: Fraud , Investor

Kansas City man indicted in mortgage fraud allegations
2007-06-29 19:03:00
In the following press release,  John F. Wood, United States Attorney for the Western District of Missouri, announced today that a Kansas City , Mo., man has been indicted by a federal grand jury for mortgage fraud. Jason Todd Morgan, 40, of Kansas City, was charged in a seven-count indictment returned under seal by a federal grand jury in Kansas City on Thursday, June 21, 2007. That indictment was unsealed and made public today. A warrant has been issued for Morgan’s arrest. The federal indictment alleges that, from June 2005 to Nov. 17, 2006, Morgan participated in a conspiracy to defraud and to obtain money from First Magnus Financial Corp. and Sebring Capital Partners, Limited Partnership, other mortgage lenders, and Freedom Title Company.  Co-conspirators allegedly sought to obtain financing to purchase residential properties at falsely and fraudulently inflated prices in order to obtain loan proceeds in excess of the actual sale price. Co-conspirators sought to...
More About: Fraud , Mortgage Fraud , Mortgage

VA man indicted, accused of having 8 HELOC's on same property
2007-06-29 18:30:00
In the following press release it was announced that Anthony T. Harrelson, age 29, of Midlothian, Virginia , was indicted today by a federal grand jury on nine counts of bank fraud and one count of money laundering arising from two separate schemes to defraud federally-insured financial institutions.  Chuck Rosenberg, United States Attorney for the Eastern District of Virginia, and Charles J. Cunningham, Special Agent-In-Charge, Federal Bureau of Investigation, Richmond Division, announced the charges. According to court documents, in the first scheme beginning in September 2006, it is alleged that Harrelson used the equity in his $270,000 residence in Midlothian, Virginia, to secure home equity loans from eight separate federally-insured financial institutions.  In each loan application, Harrelson failed to disclose that he was applying for multiple lines of credit from other financial institutions.  At the closing on each loan, Harrelson certified that there were no...
More About: Property , Indictments , Same , Ving

FBI issues 2006 Mortgage Fraud Report
2007-06-29 00:26:00
The FBI has released the 2006 Report on Mortgage Fraud . It is released on the FBI webiste here and I have printed the pages to a PDF file here.Statistics obtained fromThe Prieston Group are included in the report:“The Prieston Group, a risk management solutions provider that administers an insurance product covering losses due to fraud and misrepresentation, calculated that losses attributed to mortgage fraud will most likely reach $4.2 billion for 2006. This figure does not take into account another estimated $1.2 billion spent on fraud prevention tools.”The Prieston Group, 2006 Data, 16 February 2007,and 2 April 2007. Report Highlights An increase in foreclosure rescue scams.An increase in fraud in HELOC loans.Flipping fraud is reported to be the most common type of fraud, a fraud which required false appraisals and documents. The report shows a nice graphic describing such a scheme. The top 10 states for mortgage fraud are reported as:CaliforniaGeorgiaFloridaIlli...
More About: Mortgage Fraud , Issues

Charlotte man sentenced in NC flipping scheme
2007-06-28 23:44:00
The Internal Revenue Services website reports that on April 11, 2007, in Charlotte , NC, Charles M. Gabriel, Jr., was sentenced to 46 months in prison and ordered to pay $278,367 in restitution. Gabriel pleaded guilty in December 2004 to one charge of conspiracy to defraud the United States. According to the Bill of Information, Gabriel created and used entities known as Southern Investment Properties, JW Settlement Services, SB Homes Carolina, DRE Settlement Services and NVG Carolina to induce prospective real property buyers to provide them with credit information in order to purchase real properties. Gabriel and his co-conspirators used a variety of methods to defraud mortgage lenders and real estate investors, including inflating the purchase price purportedly paid by buyers in obtaining mortgage loans in the name of those buyers. As part of this scheme, lenders lost approximately $2.4 million. Click here for the Criminal Information.
More About: North Carolina , Flipping , Flip , Ping

Man indicted in Ohio fraud allegations
2007-06-28 21:04:00
Kimberley Dick reports for The Newark Advocate (Ohio ) that a former Hebron resident has been indicted on 14 felonies in connection with fraudulent transactions with mortgage companies and banks during a five-year span. George M. Riley Sr., 43, who now lives in Tampa Springs, Fla., was indicted Monday in Licking County Common Pleas Court on robbery, theft, fraud and engaging in a pattern of corrupt activity charges. He also is under indictment on other charges in Franklin County and Colorado. The Advocate quotes Licking County Assistant Prosecutor Ken Oswalt as saying that Riley fraudulently obtained “well over a half-million dollars” in transactions with banks and others. Riley allegedly misused investment money, provided false information to get a mortgage, obtained loans under false pretenses and never paid for equipment.Amongst a number of other matters authorities claim between January 1, 2002, and January 15, 2007, Riley misrepresented the facts leading to a mo...
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Two indicted in foreclosure rescue fraud allegations
2007-06-28 20:49:00
In the following press release United States Attorney Rachel K. Paulose announced that A Prior Lake, Minnesota, mortgage broker and his assistant have been indicted by a federal grand jury for allegedly bilking vulnerable homeowners. Michael Fiorito, formerly a mortgage broker at American Allian Mortgage Company in Wayzata, and Kristin Louis Jerde of Minneapolis, who worked as Fiorito’s assistant, were charged with one count of conspiracy, three counts of mail fraud, and one count of engaging in a financial transaction with criminally derived property. The indictment was unsealed late Wednesday, following the arrest of Fiorito and Jerde. After making their initial appearance in federal court Wednesday afternoon, Jerde was released on bond.The indictment in this case alleges that from January of 2004 through February of 2007, Fiorito and Jerde schemed to defraud homeowners who were either in foreclosure or behind on their mortgage payments. Specifically, they allegedly caused h...
More About: Fraud , Indiana , Foreclosure , Rescue , Broker

Recent case updates
2007-06-28 18:21:00
The following entries have been updated today:Michael Rodd is the latest to plead guilty in Kansas City fraud case.Straw Borrower enters guilty plea in Troy (NY) fraud case
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Former title company owners plead guilty
2007-06-28 18:11:00
In the following press release Glenn T. Suddaby, United States Attorney for the Northern District of New York , John F. Pikus, Special Agent in Charge, Albany Division of the Federal Bureau of Investigation, and Anne Marie Coons, Special Agent in Charge, Internal Revenue Service, Criminal Investigation (Buffalo), announced the guilty pleas of MATTHEW J. KUPIC, 37, and FRANCIS THOMAS DISONELL, 37, both of Clifton Park, New York. KUPIC and DISONELL pled guilty before the Honorable Gary L. Sharpe in United States District Court in Albany, N.Y., to Bank Fraud and Income Tax Evasion which carry potential penalties, respectively, of 30 years imprisonment and a million-dollar fine, and 5 years imprisonment and $100,000 fine. In addition, KUPIC and DISONELL agreed to forfeit criminal proceeds totaling over $600,000, each. Sentencing is scheduled for September 5, 2007.In court today, KUPIC and DISONELL admitted their participation in a mortgage fraud scheme that took place between March 2000 ...
More About: Company , Title , Form , Compa

San Bernadino man sentenced to 24 months imprisonment
2007-06-25 20:14:00
In the following press release the FBI in Los Angeles announced that a Grand Terrace man was sentenced on Monday by Senior United States District Judge Consuelo B. Marshall to 24 months in federal prison for his role in a mortgage fraud scheme that defrauded the Department of Housing and Urban Development. David Jose Calderon, 40, was also sentenced to 3 years of supervised release, and a court-ordered restitution of approximately $1.8 million. Calderon, a resident of Grand Terrace, California , was one of four people indicted in June 2004 by federal grand jury in the Central District of California. Also indicted were Calderon’s wife, Baneza Calderon, his brother, Carlos Calderon, and an employee, Robert Cardenas. The defendants were charged with making false statements, aiding and abetting, and conspiracy for their roles in a fraud scheme involving forty-two residential properties. These properties were sold to non-existent or unqualified buyers using federally-insured Fed...
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Colorado appraiser surrenders licence after investigation of 8 appraisals
2007-06-23 01:57:00
In a press release the Colorado Division of Real Estate announced that the Board has alleged that Pueblo appraiser James Esters overvalued eight Pueblo properties. The Board assessed a $24,000 fine. Mr. Esters agreed to permanently surrender his appraiser license and pay $7,500, the balance of the fine becoming due should he attempt to reapply for licensure. Overvaluing property contributes to the state’s rising foreclosure rate. “We will aggressively pursue appraisers who demonstrate a pattern of overvaluing properties,” said Erin Toll, Director of the Division of Real Estate. “We will be taking a particularly close look at valuations in Greeley and Pueblo, counties with extremely high foreclosure rates.” In the Final Stipulation (Order) for this case order the Board looked at 8 properties: 2681 Emilia Street, Pueblo 1230 Elm Street, Pueblo 1800 E. Evans Ave, Pueblo 1712 Quillian Avenue, Pueblo 1322 Bragdon Ave, Pueblo 2026 E Routt Street, Pueblo ...
More About: Investigation , Ender , Surrender , Enders

Former attorney pleads guilty to wire fraud
2007-06-23 01:00:00
Court records and press reports show that on Thursday June 21, 2007 former Collinsville attorney Jimmie R. Lawson (pictured below) pleaded guilty to a  Criminal Informantion in the Western District Court of Virginia to one. Picture from Martinsville Bulletin The guilty plea arises from the falsification of closing documents that allowed Lawson to divert funds from lenders which he then used for his own purposes. Shawn Hopkins of the Martinsville Bulletin quotes Assistant U.S. Attorney Pat Hogeboom as saying: “He pleaded guilty to using the mails to obtain money from various lending institutions by falsifying closing documents. In this way, Lawson allegedly obtained more money than he was entitled to in loans for real estate transactions by such tactics as saying there were down payments when there were not or disguising who actually owned a property. Lawson used the money from these loans to finance his own business ventures. The incidents took place between 2002 and D...
More About: Fraud , Wire , Guilt

6 men charged in fraud scheme that saw $100,000's transferred to Pakistan
2007-06-23 00:45:00
In the following press release Chuck Rosenberg, United States Attorney for the Eastern District of Virginia ; Joseph Persichini, Jr., Assistant Director in Charge, Federal Bureau of Investigation, Washington Field Office; Colonel David M. Rohrer, Chief of Police, Fairfax County Police Department; and Guy Cottrell, Inspector in Charge, U.S. Postal Inspection Service, Washington Division announced that Abdul Hameed, age 45, of Houston, Texas, Bilal Saleem, age 26, of Woodbridge, Virginia, Naim Aslam Mann, age 32, of Baltimore, Maryland, Basir Chand, age 43, of Springfield, Virginia, Arshad Hussain, age 47, of Dumfries, Virginia, and Jawad Ahmad were indicted yesterday by a federal grand jury for conspiracy to commit mail fraud and conspiracy to organize a continuing financial crimes enterprise, and with related substantive counts. The indictment alleges that the defendants conspired to devise a scheme in which they used various fraudulent identities that they controlled to obtain num...
More About: Fraud , Pakistan , Indictments , Ferr

Bay area (CA) police seek couple who pose as buyers to steal from homes and
2007-06-23 00:36:00
Berkeley (CA) Police are seeking a man and woman in connection with thefts from Open Houses across the Bay Area . Police allege that 30 yr old Paul McCLung (pictured below) and an as yet unidentified caucasian woman thought to be about 50 yrs old visit open houses and realty offices posing as potential buyers. Whilst the woman distracts the realtor McClung steals items like wallets, credit cards and cash. In one such incident a Santa Barbara Police Dept badge was stolen and McClung is now believed to be posing as the former police officer from whom the badge was stolen.  Police said McClung drives a dark blue four-door late model Jaguar with a light-colored interior. Police urge anyone who spots McClung not to approach him but to call 9-1-1 or 981-5911 from a cell phone. Oakland police and Crime Stoppers of Oakland are offering up to $2,500 in reward for information leading to McClung’s arrest. Anyone with information about McClung is asked to call Oakland police at ...
More About: California , Couple , Homes

Mortgage broker and a straw borrower plead guilty in WI mortgage fraud
2007-06-23 00:05:00
Two men have recently pleaded guilty during separate appearances before the District Court in the Eastern District of Wisconsin . The guilty plea’s are the result of an investigation by the FBI who are continuing their enquiries. On May 15, 2007 Lake Geneva mortgage broker James J. Lytle pleaded guilty to an information which accused him of using straw borrowers and falsifying information in connection with mortgage loans taken on at least 19 properties in Walworth County, WI. Click here for the information and then here for the Plea Agreement Lytle’s plea agreement states that he fabricated the identity and creditworthiness of the borrowers and by inflating sales prices he made between $3,000 and $20,000 per transaction when swindling eight mortgage lending companies out of about $4 million. On June 20, 2007 Jose Valadez agreed to plead to a single count of wire fraud for using another man’s identifying information and acting as a straw buyer in the sale of a...
More About: Fraud , Mortgage Fraud , Mortgage , Flipping

Son of disgraced ex-Senator charged in Louisiana flipping fraud
2007-06-20 17:11:00
In the following press release, Jim Letten, U. S. Attorney for the Eastern District of Louisiana  announced that MICHAEL O’KEEFE, JR., age 47, of Poplarville, MS and formerly of New Orleans, has been charged in a five count indictment in connection with an on-going federal investigation into a “house-flipping” scam at Citywide Mortgage.Count One of the indictment charges O’KEEFE, JR. with violation of Title 18, United States Code, Section 371, Conspiracy to Defraud the United States. The range of punishment for this offense is a term up to five years imprisonment, and a fine of $250,000. Count Two charges O’KEEFE, JR. with violation of Title 18, United States Code, Section 1956, Conspiracy to Commit Money Laundering. Counts Three, Four and Five charge O’KEEFE, JR. with Engaging in Monetary Transactions in Property Derived From Specified Unlawful Activity. The range of punishment for Counts Two, Three, Four and Five is 10 years imprisonment per...
More About: Fraud , Indictments , Flipping , Broker

Ohio Attorney General targets inflated appraisals
2007-06-19 20:47:00
In the following press release issued on June 7, 2007, Ohio Attorney Gene ral Marc Dann announced the first big sweep of lawsuits targeting unscrupulous mortgage brokers and lenders since the state’s new predatory lending law took effect, and he has lodged complaints against ten companies for violating Ohio’s consumer protection laws. In an effort to protect Ohio consumers and crack down on mortgage brokers, lenders, and other entities involved in arranging mortgage loans, multiple lawsuits have been filed in four Ohio counties against ten companies for undue influence on an appraiser. The complaints state that these companies have committed unconscionable acts or practices in violation of the Consumer Sales Practices Act by knowingly compensating, instructing, inducing, coercing, or intimidating appraisers for the purpose of improperly influencing the independent process. Appraisal inflation occurs when the the appraisal value of a home is far higher than the true market...
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New York AG files suit in flipping/Ponzi scheme allegations
2007-06-19 20:38:00
In the following press release New York Attorney General Andrew M. Cuomo announced the area’s first major house flipping lawsuit against an investment company that used a Ponzi scheme that increased urban blight in Buffalo neighborhoods. The Attorney General’s suit accuses East Coast Capital (ECC), LLC and others of defrauding unknowing investors through an elaborate Ponzi scheme involving over 50 properties throughout Buffalo. In the scheme, high returns are paid to investors with money paid from other investors instead of actual profits from the real estate venture. ECC duped investors by promising high returns if they invested in distressed real estate by providing mortgages that – also unknown to the investors – grossly exceeded the market value. In a Ponzi scheme, an infinite number of investors are needed to provide the high returns to the other investors. Therefore, Ponzi schemes inevitably “implode,” leaving many investors with significant...
More About: Flipping , Files , Ponzi Scheme

Man arrested in deed forgery allegations
2007-06-19 20:06:00
In the following press release the San Bernardino (CA) District Attorney announced that investigators from the DA’s Real Estate Fraud Unit arrested Robert Lee Freeman, 55, of Huntington Park on Thursday, June 14, 2007. Mr. Freeman was arrested outside his business in the 3400 block of Florence Avenue, Huntington Park, Ca. Freeman was arrested for three felony charges including forgery and filing forged documents with the San Bernardino County Recorder’s Office.In May 2004, Mr. Freeman allegedly forged the victim’s signature to a grant deed to property, transferring the San Bernardino County property from the victim to himself. Freeman was booked into the West Valley Detention Center located in Rancho Cucamonga. His bail was set at $100,000.
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Notary arrested in forgery allegations
2007-06-19 20:00:00
In the following press release the San Bernardino (CA) District Attorney announced that Brenda Cortez, 34, of Menifee, surrendered to Investigators from the San Bernardino County District Attorney’s Real Estate Fraud Unit on Friday, May 25, 2007. Cortez is a commissioned Notary Public, and was arrested for one count Government Code 8228.1 - Willful failure to perform a Notarial duty.In May 2006, Cortez notarized a Grant Deed affecting real property and failed to obtain a thumbprint from the person requesting the notarization in her notary journal, as required by Government Code 8206(G). The affected property was located in the city of San Bernardino, CA. It was later determined that the Grant Deed was forged, and recorded with the County recorder’s Office in San Bernardino. Cortez was booked into the Sheriff’s Central Detention Center located in San Bernardino. Bail was set at $15,000.
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Indictment in alleged real estate ponzi scheme
2007-06-19 00:28:00
In the following press release MICHAEL J. GARCIA, the United States Attorney for the Southern District of New York , and MARK J. MERSHON, the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced the arrest today of WILSON JAMES BASTON, JR., a/k/a “Wil James,” a/k/a “Will James,” the President and Founder of Will James Equity Partners, Inc., on charges that BASTON defrauded investors of over $16 million. According to the two-count Complaint filed in Manhattan federal court.In 2002, BASTON created Will James Equity Partners, Inc., which purported to be a real estate investment program which purchased distressed properties in the New York City area, as investment vehicles for long and short-term investors. A marketing/promotional brochure for Will James Equity Partners, Inc., described the enterprise as a “for-profit corporation whose purpose is to identify real estate properties which are...
More About: Estate , Real Estate , Indictments , Real