Real estate investor gets 7 years in $15M mortgage fraud scheme

Roseville Wealth Advisor Lee Loomis Sentenced to 12 Years in Prison for Investment Fraud Scheme. According to court documents, from 2006 through 2008, Loomis was president of Loomis Wealth Solutions, a business operating in California, Illinois, Washington and elsewhere. Through seminars and face-to-face meetings,

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The Goldman, Scarlato & Penny law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating McKinley Mortgage Co. LLC’s alleged real estate scheme. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees.

"Fraud for Profit" which is sometimes referred to as "industry insider fraud" because it typically requires at least the cooperation, if not the participation, of an appraiser, real estate broker, mortgage broker or other real estate professional. Such cooperation or participation does not always require any action on the part of the.

Former Fishers investment manager Keenan Hauke was sentenced Friday to 10 years in federal prison for securities fraud. Hauke admitted masking huge losses in a hedge fund he operated that resulted in.

A former mortgage company employee who admitted to helping an Illinois state judge carry out a mortgage fraud scheme for two investment properties in Chicago was sentenced Tuesday to seven months.

Real estate investor gets 7 years in $15M mortgage fraud scheme – They then caused the sales prices for the properties-located in Wildwood Crest and North wildwood. good credit scores but lacked the financial resources to qualify for mortgage loans. The.

Flippers got a bad rap over the years because some mortgage brokers and agents were in cahoots with disreputable investors. It is one of the ways that flipping schemes worked: Parties involved Flipping involved four parties: the appraiser, the investor (or real estate agent), a mortgage broker and a straw buyer — all four knew each other.

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who owned and operated USA Properties, was convicted in a mortgage fraud scheme that involved his. the McKanrys sold 12 real estate properties through Enders, prosecutors said, for a total of $2.7.

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