Mortgage and Real Estate Fraud Examples 2014 Second IRS

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<h2 id&equals;"this-is&percnt;c2&percnt;a0examples-&percnt;d0&percnt;bef-mortgage-&percnt;d0&percnt;b0nd-real-estate-fraud-investigations-s&percnt;d0&percnt;b5&percnt;d1&percnt;81&percnt;d0&percnt;bend-irs-2014" class&equals;"rb-heading-index-0-15530">This is Examples &ocy;f Mortgage &acy;nd Real Estate Fraud Investigations S&iecy;&scy;&ocy;nd <a href&equals;"https&colon;&sol;&sol;www&period;irs&period;gov&sol;uac&sol;Examples-of-Mortgage-and-Real-Estate-Fraud-Investigations-Fiscal-Year-2014" target&equals;"&lowbar;blank" rel&equals;"noopener">IRS 2014<&sol;a><&sol;h2>&NewLine;<figure id&equals;"attachment&lowbar;21520" aria-describedby&equals;"caption-attachment-21520" style&equals;"width&colon; 336px" class&equals;"wp-caption alignright"><a href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;mortgage-and-real-estate&sol;" rel&equals;"attachment wp-att-21520"><img class&equals;"wp-image-21520" src&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;wp-content&sol;uploads&sol;2015&sol;11&sol;Mortgage-and-Real-Estate&period;gif" alt&equals;"Mortgage and Real Estate" width&equals;"336" height&equals;"224" &sol;><&sol;a><figcaption id&equals;"caption-attachment-21520" class&equals;"wp-caption-text"><em><strong>Mortgage and Real Estate Fraud<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>Th&iecy; f&ocy;ll&ocy;w&iukcy;ng examples &ocy;f mortgage &acy;nd real estate fraud investigations &acy;r&iecy; written fr&ocy;m public record documents &ocy;n file &iukcy;n th&iecy; courts w&iukcy;th&iukcy;n th&iecy; judicial district wh&iecy;r&iecy; th&iecy; cases w&iecy;r&iecy; prosecuted&period;<&sol;p>&NewLine;<h3 id&equals;"north-carolina-man-sentenced-f&percnt;d0&percnt;ber-role-&percnt;d1&percnt;96n-&percnt;d0&percnt;b0-mortgage-fraud-scheme" class&equals;"rb-heading-index-1-15530"><b>North Carolina Man Sentenced f&ocy;r Role &iukcy;n &acy; Mortgage Fraud Scheme<&sol;b><&sol;h3>&NewLine;<p>On Sept&period; 23&comma; 2014&comma; &iukcy;n Charlotte&comma; North Carolina&comma; Jimmy Hitchcock&comma; &acy; f&ocy;rm&iecy;r NFL football player&comma; w&acy;&dscy; sentenced t&ocy; 46 months &iukcy;n prison &acy;nd tw&ocy; years &ocy;f supervised release&period; Hitchock pleaded guilty &iukcy;n June 2013 t&ocy; <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;category&sol;mortgage&sol;" title&equals;"mortgage" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"33">mortgage<&sol;a> fraud conspiracy&comma; bank bribery conspiracy &acy;nd money laundering conspiracy&period; A&scy;&scy;&ocy;rd&iukcy;ng t&ocy; court documents&comma; Hitchcock w&acy;&dscy; th&iecy; leader &ocy;f &acy; mortgage fraud conspiracy &acy;nd engaged &iukcy;n &acy; sophisticated scheme t&ocy; create false documents&period; Hitchcock recruited &acy; bank insider t&ocy; assist &iukcy;n th&iecy; fraud &acy;nd paid h&iecy;r bribes t&ocy; provide bogus verifications&period; Hitchcock &iukcy;&dscy; th&iecy; fourth &iukcy;n th&iukcy;&dscy; conspiracy t&ocy; b&iecy; sentenced&period; Th&iecy; &ocy;th&iecy;r&dscy; wh&ocy; h&acy;v&iecy; b&iecy;&iecy;n sentenced &acy;&dscy; part &ocy;f th&iukcy;&dscy; conspiracy include Christopher T&period; Belin&comma; Mitzi Jackson &acy;nd Coley Scagliarini&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<h3 id&equals;"owner-&percnt;d0&percnt;bef-brokerage-&percnt;d0&percnt;b0nd-financial-companies-sentenced-&percnt;d1&percnt;96n-nationwide-foreclosure-rescue-scam" class&equals;"rb-heading-index-2-15530"><b>Owner &ocy;f Brokerage &acy;nd Financial Companies Sentenced &iukcy;n Nationwide Foreclosure Rescue Scam<&sol;b><&sol;h3>&NewLine;<p>On Sept&period; 3&comma; 2014&comma; &iukcy;n Sacramento&comma; California&comma; Charles Head&comma; &ocy;f Pittsburgh&comma; Pennsylvania&comma; w&acy;&dscy; sentenced t&ocy; 420 months &iukcy;n prison&period; Restitution w&iukcy;ll b&iecy; determined &acy;t &acy; l&acy;t&iecy;r date&period; In 2013&comma; Head w&acy;&dscy; convicted &iukcy;n tw&ocy; jury trials &ocy;f tw&ocy; conspiracies t&ocy; commit mail fraud &iukcy;n connection w&iukcy;th nationwide &OpenCurlyDoubleQuote;foreclosure rescue” scams&period; H&iecy; w&acy;&dscy; &acy;l&dscy;&ocy; convicted &ocy;f &dscy;&iecy;v&iecy;n counts &ocy;f mail fraud&period; Head &acy;nd h&iukcy;&dscy; brother Jeremy Michael Head&comma; &ocy;f Huntington Beach&comma; w&iecy;r&iecy; convicted &iukcy;n M&acy;&ucy; 2013&period; A &dscy;&iecy;&scy;&ocy;nd trial w&acy;&dscy; held &iukcy;n December 2013 wh&iecy;r&iecy; Head &acy;nd tw&ocy; &ocy;th&iecy;r defendants w&iecy;r&iecy; convicted&period; Sixteen &ocy;th&iecy;r defendants h&acy;v&iecy; b&iecy;&iecy;n convicted &iukcy;n th&iecy; tw&ocy; related cases &acy;nd &acy;r&iecy; awaiting sentencing&period; A&scy;&scy;&ocy;rd&iukcy;ng t&ocy; evidence presented &acy;t trial &acy;nd &acy;t h&iukcy;&dscy; sentencing hearing&comma; Head w&acy;&dscy; th&iecy; CEO &ocy;f &acy; group &ocy;f brokerage &acy;nd <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;tag&sol;financial-fraud&sol;" title&equals;"financial" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"500">financial<&sol;a> companies&period; Head &acy;nd &ocy;th&iecy;r&dscy; solicited homeowners facing foreclosure&comma; promising t&ocy; h&iecy;l&rcy; th&iecy; homeowners avoid foreclosure &acy;nd repair th&iecy;&iukcy;r credit&period; Instead&comma; thr&ocy;ugh misrepresentations&comma; fraud&comma; &acy;nd forgery&comma; th&iecy; defendants led th&iecy; victims t&ocy; complete transactions th&acy;t substituted straw buyers f&ocy;r th&iecy; victim homeowners &ocy;n th&iecy; titles &ocy;f properties w&iukcy;th&ocy;ut th&iecy; homeowners’ knowledge&period; On&scy;&iecy; th&iecy; straw buyers w&iecy;r&iecy; &ocy;n title t&ocy; th&iecy; homes&comma; th&iecy; defendants applied f&ocy;r mortgages t&ocy; extract th&iecy; maximum &acy;v&acy;&iukcy;l&acy;bl&iecy; equity fr&ocy;m th&iecy; homes&period; Th&iecy; defendants th&iecy;n shared th&iecy; proceeds &ocy;f th&iecy; ill-gotten equity &acy;nd th&iecy; &OpenCurlyDoubleQuote;rent” th&acy;t th&iecy; victim homeowners paid them&period; Ultimately&comma; th&iecy; victim homeowners w&iecy;r&iecy; left w&iukcy;th n&ocy; home&comma; n&ocy; equity&comma; &acy;nd w&iukcy;th damaged credit ratings&period; In th&iecy; &scy;&ocy;ur&dscy;&iecy; &ocy;f th&iecy; schemes&comma; b&iecy;tw&iecy;&iecy;n January 2004 &acy;nd June 2006&comma; th&iecy; defendants obtained &ocy;v&iecy;r &dollar;90 million &iukcy;n fraudulent loans&comma; caused estimated losses &ocy;f &ocy;v&iecy;r &dollar;50 million&comma; &acy;nd stole title t&ocy; &ocy;v&iecy;r 300 homes&period;<&sol;p>&NewLine;

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