FraudBaron.com

Former Beverly Hills appraiser sentenced in real estate fraud ring

latimes.com | 2/1/10 | $46 million | suspect:  Lila Rizk

A former Beverly Hills real estate appraiser was sentenced to three years in federal prison Friday for her role in a multimillion-dollar real estate fraud ring.

Bakersfield CPA Guilty in Mortgage Fraud Scheme

sacramento.fbi.gov | 1/13/10

KEVIN PATRICK SLUGA, 60, and his wife, LESLIE SLUGA, 57, of Bakersfield, pleaded guilty to four counts of wire fraud and two counts of wire fraud, respectively, for falsifying financial information used to obtain mortgages from financial institutions.

Credit Suisse Named In Real Estate Loan Lawsuit

spokesman.com | 1/5/10 | suspect:  Credit Suisse

A group of property owners from four luxury resorts - including Tamarack Resort in Idaho - has filed a $24 billion class-action lawsuit against Credit Suisse, alleging that the big Swiss bank engaged in a “predatory” lending scheme designed to force all four resorts into foreclosure and acquire the pricey properties for pennies on the dollar, while raking in “enormous” fees.

Multiple Indictments Issued in Desert Sun Development Loan Fraud

portland.fbi.gov | 11/23/09 | $19 million|  suspect:

A federal grand jury sitting in Eugene, Oregon, returned indictments against 13 individuals on a variety of mortgage and loan fraud charges arising out of the collapse of Desert Sun Development (DSD), a company previously headquartered in Bend, Oregon.

CO Developer Pleads Guilty in Builder Bailout Scheme

 dailynews.com | 11/16/09 | suspect:  Benjamin Serrano

A former Colorado home builder agreed to plead guilty in Los Angeles to a federal conspiracy charge in connection with a $16 million fraud scheme involving a Southland banker and real estate agent.

Setback in Bear Stearns case may force gov't shift

ap.google.com | 11/15/09 |

The swift acquittal of two Bear Stearns executives in the government's criminal case tied to the financial meltdown likely will force prosecutors to rethink the evidence they planned to present in a raft of cases that have yet to go to trial, legal experts say.

International Fugitive Returned to CA for Mortgage Fraud Scheme

ap.google.com | 9/28/09 | $100 million | suspect:  Garret Griffith Gililland III

A 28-year-old Sacramento man who led authorities on an international manhunt has been returned to California to face federal charges in an alleged mortgage fraud scheme.

Cedar Funding Businessmen Indicted for Real Estate Investment Fraud

sanfrancisco.fbi.gov | 9/14/09 | $100 million | suspect:  David Nilsen and Antonio Errico | victim:  Cedar Funding

David Arthur Nilsen and Manoel Antonio Errico, of Monterey, Calif.  were indicted for defrauding investors in Cedar Funding, a Monterey-based “hard money” lender, in connection with investments in loans purportedly secured by deeds of trust and in a fund that invested in those same loans.

Wells Fargo Exec Parties at Foreclosed Malibu Beach Home

ap.google.com | 9/11/09 | suspect:  Wells Fargo

A Wells Fargo & Co. executive who oversees foreclosed properties hosted parties and spent long summer weekends in a $12 million Malibu beach house, moving into the home just after it had been surrendered to Wells Fargo to satisfy debts, neighbors said.

Fraud Alleged In NC Real Estate Development

tampabay.com | 9/08/09 | suspect:  Domenic Rabuffo

Banks are foreclosing on lot after lot. A federal magistrate suggests mortgage fraud has been committed. And some of those who bought lots in a controversial western North Carolina subdivision have been accused of fraud.