Six Indicted in $25 Million Mortgage Fraud Scheme
October 6, 2011
Total Loss:
$25 Million
A federal grand jury in Brooklyn returned a superseding indictment charging six defendants with a mortgage fraud scheme in which they fraudulently obtained over $25 million in loans.1 The indictment alleges the defendants conspired to defraud financial institutions, including Countrywide Financial, Fremont Investment and Loan, IndyMac Bank, National City Corporation, Sun Trust Mortgage, Inc. and Wells Fargo & Company, and wholesale mortgage lenders, including Lend-Mor Mortgage Bankers Corporation, Mortgage Lenders Network USA, and New Century Mortgage Corporation. Attorneys Matthew Burstein and Aaron Rabinowitz, real estate agent Elias Compres, loan officers Arturo Giraldo and John Constantinides, together with Rolando E. Roldan, are charged with conspiracy to commit bank and wire fraud; Burstein, Compres, Rabinowitz, and Roldan are also charged with wire fraud.
Source:
FBI
Posted in:
ACH and Wire Fraud