FTC files charges against 2 mortgage rescue firms, accusing them of posing as gov't agenciesSeptember 17th, 2009 Authorities crack down on 2 mortgage aid firmsWASHINGTON — Federal authorities are cracking down on two companies that promised homeowners help with their mortgages, accusing them of posing them as government agencies. The Federal Trade Commission on Thursday said it filed charges against two companies — Nations Housing Modification Center and Infinity Group Services.
Obama task force to recommend new policies for conservation of oceans, coasts, Great LakesSeptember 17th, 2009 Obama's ocean task force to recommend new policySAN FRANCISCO — The Obama administration is unveiling the first draft of recommendations for a new, comprehensive national policy for protecting and restoring the oceans, coasts and the Great Lakes. President Barack Obama's Ocean Policy Task Force — comprised of officials from a range of agencies — will help create a new framework for future conservation and restoration efforts.
10 states' top prosecutors, 4 federal agencies form task force to combat mortgage fraudAugust 24th, 2009 Feds, 10 states join to fight mortgage fraudOLYMPIA, Wash. — Ten state attorneys general and four federal agencies are forming a task force to combat mortgage fraud.
Clarification: Mortgage fraud storyAugust 13th, 2009 Clarification: Mortgage fraud storyLOS ANGELES — In the first paragraph of an Aug. 10 story about a mortgage fraud trial, The Associated Press reported that real estate agent Joseph Babajian was acquitted in the scheme, while two others were found guilty.
High-profile Beverly Hills real estate agent acquitted of mortgage fraud scheme; 2 convictedAugust 11th, 2009 High-profile Calif. real estate agent acquittedLOS ANGELES — A high-profile Beverly Hills real estate agent has been acquitted of participating in a massive mortgage fraud scheme that caused federally insured banks to lose more than $40 million.
Third-largest originator of FHA loans is suspended amid HUD investigationAugust 4th, 2009 Fla.-based mortgage company suspendedMIAMI — A prominent U.S. mortgage company is being investigated by the Housing and Urban Development Department after allegedly failing to submit a required financial report, raising concerns of fraud.
Feds charge 41 in Fla. mortgage fraud schemes involving $40 million in 6 different casesJuly 28th, 2009 Feds charge 41 in Fla. mortgage fraud schemesMIAMI — Federal prosecutors say 41 people have been charged in the latest round of South Florida mortgage fraud schemes.
Federal authorities say 6 peoploe have been arrested in Wall Street securities fraud caseJuly 8th, 2009 6 arrests in Wall Street fraud caseNEW YORK — Federal authorities say six people have been arrested in a securities fraud investigation involving a Wall Street brokerage firm. The case involves an alleged $140 million scheme that spanned a decade.
Falling house prices, downturn in economy drive up mortgage fraudJuly 8th, 2009 Falling house prices drive up mortgage fraudWASHINGTON — Falling housing prices are driving up reports of mortgage fraud, with the FBI saying Tuesday that reported losses are up 83 percent last year and climbing even higher in 2009. In its 2008 Mortgage Fraud Report, the Federal Bureau of Investigation said the downturn in the economy, a spike in foreclosures and defaults and diminishing credit availability "fueled a rampant mortgage fraud climate fraught with opportunistic participants desperate to maintain or increase their current standard of living."
"Industry employees sought to maintain the high standard of living they enjoyed during the boom years of the real estate market and overextended mortgage holders were often desperate to reduce or eliminate their bloated mortgage payments," the report said.
Federal prosecutors in file criminal fraud conspiracy charges against Beazer HomesJuly 1st, 2009 Criminal charges filed against Beazer HomesATLANTA — Federal prosecutors in North Carolina have filed criminal fraud conspiracy charges against Beazer Homes USA. The Atlanta-based homebuilder has been under scrutiny for certain business and financial practices.
Miami authorities bust suspected Medicare fraud ring they say spanned 5 states, 8 chargedJune 24th, 2009 Miami authorities bust suspected Medicare fraudMIAMI — It may be the center for Medicare fraud, but even Miami officials said Tuesday they were surprised by the breadth of a ring they say spanned five states, used 29 fake storefronts and attempted to steal $100 million from Medicare and Medicare Advantage. Eight defendants were charged in the elaborate scam authorities say billed Medicare for bogus HIV and cancer infusion drugs using dozens of storefronts in Florida, North Carolina, South Carolina, Georgia and Louisiana, authorities said.
Former NJ mortgage executive admits $139 million fraud that bankrupted his companyJune 12th, 2009 NJ mortgage company president guilty in $139M scamNEWARK, N.J. — The former president of a New Jersey mortgage company has pleaded guilty in a $139 million fraud scheme that bankrupted his firm.
Senate committee to review Obama auto task's restructuring of GM, ChryslerJune 8th, 2009 Senate panel to question Obama auto task forceWASHINGTON — A Senate committee plans to question two members of the White House's auto task force about using taxpayer money to restructure General Motors and Chrysler. The Senate Banking Committee will hear from Ron Bloom, a senior adviser to the auto task force, and Edward Montgomery, who serves as the Obama administration's director of recovery for auto communities and workers.
Summary Box: Government accuses Mozilo, 2 others of civil fraud in Countrywide mortgage caseJune 5th, 2009 Summary Box: Mozilo accused of civil fraudFORMER COUNTRYWIDE CEO CHARGED: The government has accused Angelo Mozilo and two other former executives of the fallen mortgage lender of civil fraud and insider trading. The three dispute the civil charges by the Securities and Exchange Commission.
SEC charging former Countrywide CEO Angelo Mozilo, 2 other execs with civil fraudJune 4th, 2009 SEC charging ex-Countrywide CEO Mozilo with fraudWASHINGTON — The government is charging Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp., and two other company executives with civil fraud. The case brought by the Securities and Exchange Commission also accuses Mozilo of illegal insider trading, according to an agency spokesman.
Loading ...