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Leader of $200 Million Real Estate Investment Scam Arrested for Fraud

For Immediate Release August 12, 2010
United States Attorney’s Office District of New Jersey Contact: (973) 645-2888

Alleged Schemes Defrauded Investors in Multiple States and Abroad

NEWARK, NJ—Eliyahu Weinstein, aka “Eli Weinstein,” was arrested at his home this morning by federal agents on charges that he ran an investment fraud scheme causing losses of [...]

Three in New Jersey Arrested and Charged in Foreclosure Rescue Scheme

Three members of an alleged mortgage fraud scheme that falsely promised to help homeowners facing foreclosure keep their homes and repair their damaged credit were arrested this morning on wire fraud conspiracy charges, U.S. Attorney Paul J. Fishman announced.

Ronald Harris Jr., 40, of West Orange, N.J.; Sterling Bruce, 36, of [...]

Mortgage Fraud Sweep Results in Almost 500 Arrests

Dennis Norman

According to a press release issued by the FBI, nearly 500 people have been arrested in a nationwide mortgage fraud take-down as part of “Operation Stolen Dreams.” This operation was launched on March 1, 2010 and, according to the FBI, has lead to a total of 485 arrests, 330 convictions and [...]

Former Mortgage Broker, California Woman Plead Guilty to Mortgage Fraud

Beth Phillips, United States Attorney for the Western District of Missouri, announced today that two more defendants have pleaded guilty in federal court to charges related to mortgage fraud schemes, including a $12.6 million conspiracy that involved 25 upscale residential properties in Lee’s Summit, Missouri and Raymore, Missouri and a [...]

Six Charged with Wire Fraud Based on $20 Million Mortgage Fraud Scheme

A 10-count indictment has been unsealed charging six individuals with conspiracy to commit wire fraud and wire fraud, announced U.S. Attorney Karen P. Hewitt. The defendants are charged with submitting false and fraudulent mortgage loan applications and related documents to banks and other lending institutions, thereby inducing the institutions to make [...]

Ponzi Scheme and Mortgage Fraud Mastermind Sentenced to 15 Years, Eight Months

The founder and head of Chicago Development and Planning was sentenced yesterday to 15 years and eight months in prison, and ordered to pay more than $9 million in restitution for wire fraud, mail fraud, and money laundering, U.S. Attorney Joseph P. Russoniello announced.

Patricia Morgen pleaded guilty on Dec. 16, 2009. According [...]

Four Broward and Palm Beach Residents Charged in Multi-Million-Dollar Mortgage Fraud Scheme

Defendants Include a Mortgage Broker and Loan Processor

This week the FBI announced the unsealing of a superseding indictment charging defendants Anson Joachin a/k/a A.J. Alexandre, 39, of Parkland, Florida, John Fisher, 35, of Jupiter, Florida, Tracey Balli, 35, of Pembroke Pines, Florida, and Delano McLennon, 33, of North Lauderdale, Florida, for [...]

How to avoid being a victim of a real estate or rental scam

Dennis Norman

The Internet Crime Complaint Center (IC3) and the Federal Bureau of Investigation have published a report about common real estate scams and rental scams they are finding and how to avoid them. Like most scams there are warning signs and red flags that can help you avoid falling victim; knowing what to look [...]

President of Metropolitan Money Store Sentenced to Over 12 Years in Prison for $37 Million Mortgage Fraud Scheme

Joy Jackson Personally Responsible for Over $16 Million in Losses to Mortgage Lenders; Used Over $800,000 of Fraudulently Obtained Proceeds to Pay for Her Wedding

U.S. District Judge Roger W. Titus sentenced the president of the Metropolitan Money Store, Joy Jackson, age 41, of Fort Washington, Maryland, today to 151 months in [...]

Mortgage Fraud Surge Investigation Nets More Than 100 Individuals Throughout Middle District of Florida

Department of Justice Press Release

TAMPA—United States Attorney A. Brian Albritton today announced the results of a nine-month-long Mortgage Fraud Surge investigation that has resulted in charges against more than 100 defendants and involves allegations concerning more than $400 million in loans procured by fraud and more than 700 properties. U.S. Attorney Albritton is [...]

FBI ‘Operation Bad Deeds’ results in 41 defendants charged in Mortgage Fraud Takedown

Department of Justice Press Release

PREET BHARARA, the United States Attorney for the Southern District of New York, JOSEPH M. DEMAREST, JR., the Assistant Director-in-Charge of the New York Field Division of the Federal Bureau of Investigation (“FBI”), RICHARD H. NEIMAN, the Superintendent of Banks for New York State, RENE FEBLES, the Special Agent-in-Charge of the [...]

Real Estate Investor Convicted on 19 Counts for His Involvement in a Mortgage Fraud Conspiracy

PHOENIX—Mario Bernadel, 51, of Phoenix, was convicted yesterday on 19 counts of Conspiracy to Commit Mail, Wire, and Bank Fraud; Mail Fraud; Wire Fraud; Bank Fraud, and Transactional Money Laundering as a result of his involvement in a cash back mortgage fraud scheme. Sentencing is set before U.S. District Judge Stephen M. McNamee [...]

FBI issues alert warning of online rental scams

By: Dennis Norman

The FBI has issued a consumer alert warning of phony online rental ads. According to the alert, the scam goes like this:

 A prospective tenant can’t believe their good fortune-they find a rental home in a nice area through a Craigslist classified ad at an unbelievably low rate. The landlord-who had to leave the country and [...]