Governor Signs Legislation Creating Tougher Mortgage Fraud Penalties

November 2, 2011 - (RealEstateRama) -- Legislation providing tougher penalties to those who knowingly engage in mortgage fraud has been passed through the legislature and recently signed into law by Governor Snyder. These new Public Acts seek to address the increased amounts of mortgage fraud in Michigan.

Mortgage Fraud Broker Pleads Guilty to Mortgage Fraud

GRAND RAPIDS, MI - February 15, 2011 - (RealEstateRama) -- Joseph Carr, 56, of Lansing, Michigan, pled guilty to one count of bank fraud, U.S. Attorney Donald A. Davis announced today. Carr admitted as part of his plea before U.S. Magistrate Judge Hugh W. Brenneman Jr. that he defrauded Bank of America by recruiting “straw buyers” to apply for a mortgage loan for a home that he himself intended to occupy, and inflated the value of that home in order to increase the amount of the loan. In this manner, he was able to secure a loan of $175,000 for his own use. In his plea agreement, Carr also acknowledged that other related fraudulent activities resulted in losses of $1,147,250

Cox Secures Final Conviction in Major Southeast Michigan Mortgage Fraud Bust

LANSING, MI - September 29, 2010 - (RealEstateRama) -- Attorney General Mike Cox today announced that his office, with the assistance of the Michigan State Police, secured a guilty plea against Eddie Zaben of Dearborn for his role in a major mortgage fraud operation in Southeast Michigan. Zaben, 40, pled guilty to two counts of obtaining mortgage proceeds under false pretenses. Zaben will serve 2-10 years in prison and must pay $3 million in restitution. Zaben is the latest conviction resulting from a year-long investigation by the Michigan Mortgage Fraud Task Force and included efforts by the Michigan State Police, the U.S. Secret Service and the Attorney General's office. Six other defendants have already been convicted for their roles in the scheme.

Financial Fraud Enforcement Task Force Hosts Mortgage Fraud Summit in Detroit

WASHINGTON, DC - April 26, 2010 - (RealEstateRama) -- Representatives of the Financial Fraud Enforcement Task Force met in Detroit today for the third of a series of Mortgage Fraud Summits. The task force, established by President Barack Obama in November 2009 to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes, is composed of representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement.

Loan Officers Sentenced for Operating West Michigan Mortgage Fraud Ring

LANSING, MI - November 16, 2009 - (RealEstateRama) -- Attorney General Mike Cox today announced the sentencing of two west Michigan loan officers convicted of operating a widespread mortgage fraud ring, duping members of the Grand Rapids Hispanic community into purchasing distressed properties at inflated prices, falsifying records and pocketing thousands of dollars. The targeted buyers often spoke or wrote little English and had a limited understanding of the mortgage process.

Mortgage Fraud Ring Faces Years in Prison, $1.2 Million in Restitution

September 4, 2009 - (RealEstateRama) -- Myron L. Hooker, Jr., 43, of Detroit, Peter Garland, 40, formerly of Southfield, Nicole Jackson, 38, formerly of Detroit and Antwan Mcrea, 35 of Detroit, were sentenced yesterday for obtaining fraudulent mortgage loans on numerous properties and splitting illegal proceeds in varying proportions among themselves announced United States Attorney Terrence Berg

West Michigan Mortgage Fraud Case Results in Charges

LANSING, MI - August 13, 2009 - (RealEstateRama) -- Attorney General Mike Cox today announced that three individuals have been charged in connection to a mortgage fraud ring operating in West Michigan. Grand Rapids resident Damon Clark and Ferndale resident Reginald Tardy, Jr. are in custody after being charged with eight counts of perpetrating mortgage fraud in connection to six Grand Rapids properties. Former Grand Rapids resident Brian VanFarowe was also charged but has fled the country

Cox Charges Man in Mortgage Fraud Scheme

LANSING, MI - August 10, 2009 - (RealEstateRama) -- Attorney General Mike Cox today announced that his office, with the assistance of the Michigan State Police, filed charges against former Lansing resident Jeffrey Barry for conducting a mortgage fraud scheme involving five fraudulent mortgages worth nearly a half-million dollars. Barry, of Houston, Texas, is charged with five counts of obtaining mortgage proceeds under false pretenses. He was arrested today in Houston, and will be extradited to Michigan


New shorelands program helps waterfront homeowners improve shorelines, inland lakes

The Michigan Natural Shoreline Partnership recently launched a program to help lakefront homeowners understand best practices to protect their shoreland and inland lakes. The Michigan Shoreland Stewards Program will recognize inland lake property owners who are using healthy property management practices to protect their inland lake and offer tips to improve the shoreline further.


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