Tag Archives: Mortgage Fraud

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced that Delio Coutinho pleaded guilty to conspiracy to commit wire fraud. The New Jersey-based Coutinho admitted to his role in a large-scale mortgage fraud scheme that caused millions of dollars in losses.

For the second straight year, Washington, D.C., is the place lenders are most likely to encounter mortgage fraud, according to the annual Mortgage Fraud Risk Report released by Interthinx. This continues the rising trend in fraud risk observed over the past three years as inventories shrink, prices rise, and markets stabilize.

An audit performed by the U.S. Department of Justice Office of the Inspector General (OIG) found that mortgage fraud wasn't prioritized as highly as claimed in public statements by the Department of Justice. The audit was released by Michael Horowitz, Inspector General.

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) announced Tuesday that Robert Ilunga, of Naugatuck, Connecticut, was sentenced last Friday to 18 months in federal prison for operating a multimillion-dollar mortgage fraud scheme. Ilunga will serve three years of supervised release upon his release from prison.