A California man was convicted on several counts of fraud relating to a mortgage scam earlier in the week, Special Inspector General for the Troubled Asset Relief Program (SIGTARP) Christy Romero announced earlier this week.
Read More »Former Bank Exec Pleads Guilty to Defrauding Investors, Regulators
A former bank executive pleaded guilty last week to charges of defrauding regulators and his bank's investors, Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and other investigators announced recently.
Read More »Father, Son Indicted on TARP Fraud Charges
Two Kansas men were indicted on multiple charges of defrauding a bank that was receiving government assistance out of more than $877,000, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) Christy Romero and U.S. Attorney for the District of Kansas Barry Grissom announced recently.
Read More »Man Sentenced to 35 Years for ‘Foreclosure Rescue’ Fraud
One of 17 defendants in a "foreclosure rescue" fraud case received a 35-year prison sentence for his role in the scam, according to a statement from Benjamin B. Wagner, U.S. attorney for the Eastern District of California.
Read More »Valuation Fraud Risk Jumps in First Quarter
Risk of fraud in property valuations spiked in the first quarter, according to a report released Wednesday by risk analytics firm Interthinx. Analysts for Interthinx attribute the increase in valuation fraud risk to a rise in buyers purchasing and listing multiple properties in the same neighborhood.
Read More »Investment Fraud Scheme Nets 27 Months in Prison
Marvin Solis of Richmond, California was sentenced to 27 months in federal prison and ordered to pay restitution for an investment fraud scheme perpetuated against family members. According to the Office of the Inspector General for the Troubled Asset Relief Program (SIGTARP), Solis pled guilty to two counts of wire fraud as a result of the scheme.
Read More »Florida Man Charged in $76 Million Fraud Scheme
Leonard Potillo of Longwood, Florida has been charged in a 33-count indictment for wire fraud, bribing a bank official, and unlawful monetary transactions. Potillo is charged with operating an alleged $76 million fraud scheme involving the purchase and sale of delinquent debt portfolios from banks, according to the Office of the Special Inspector General for the Trouble Asset Relief Program (SIGARP).
Read More »Missouri Man Sentenced to 4 Years for Defrauding TARP Bank
The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced the latest victory in its ongoing effort to protect taxpayers by combating fraud, waste, and abuse connected with the U.S. Department of the Treasury's Troubled Asset Relief Program (TARP). Michael Edward Filmore of Chesterfield, Missouri was sentenced to four years in federal prison and ordered to pay $6.5 million in restitution for defrauding Pulaski Bank.
Read More »California Man Sentenced to 51 Months for Fraud
The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that Steven Pitchersky of Rancho Mirage, California was sentenced to 51 months in federal prison for a scheme to defraud GMAC Inc., since rebranded as Ally. Through his fraudulent actions, the company incurred losses of approximately $5.3 million.
Read More »Maryland Man Sentenced for Defrauding Homeowners
As a part of ongoing legal proceedings, the office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that Brian Kelly was sentenced to one year and a day in federal prison for his participation in a $4 million nationwide home loan modification scheme.
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