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Showing posts with label Fraud. Show all posts
Showing posts with label Fraud. Show all posts

Wednesday, December 21, 2011

Another Real Estate Agent Charged with Fraud

As more and more people get charged for fraud since the mortgage and real estate collapse, it is important to research your options when buying a home in Kansas City.


Here is an example of a fraud scheme uncovered by federal prosecutors. 


Federal prosecutors say a former Davenport real estate agent has been sentenced to two years in prison for her role in a scheme to defraud banks and mortgage lenders.


The U.S. attorney's office says 57-year-old Mary Harper was sentenced on wire fraud charges on Monday in Davenport. She was ordered to pay over $185,000 in restitution and serve three years of probation. Prosecutors say Harper participated in a scheme to skim fees and commissions from inflated real estate mortgage loans. 


Authorities say inflated prices were used to allow buyers to apply for and receive inflated mortgages. After the deal was closed, the sellers would pay a "kickback" to Harper and the buyers. 


Six others, including two buyers, two mortgage brokers and two attorneys, were charged in the case.

The Dowell Taggart Team is a Kansas City real estate team built with trust and integrity. Contact us for your Kansas City real estate needs!





RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

Comments are appreciated! Go ahead and add your 2 cents . . .
We have 3 easy steps to find you the perfect home . Click here to get started, today!

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Read before you buy a Kansas City home online - Kansas City Real Estate

With nearly everything going to the internet or somehow the internet involved in most business, it was a matter of time that real estate would be sold on the internet. 

So if real estate is sold on the internet, the real estate scams follow. And they are . . . 

To me buying a property for sale sight unseen is hard enough. Buying a property from an unknown seller makes it more difficult. 

When someone calls me after they have bought a Kansas City property sight unseen off of a real estate auction and wants help - typically my next words are , "It's too late for me to help if you've already made a bad deal." 

Why? because after the property is bought, there is no grace period. It is theirs.

If you are thinking about buying a property in Kansas City off of a real estate auction, be smart and call a professional. Better yet, call me. 

I will help you gather some important information so you can make an informed decision.

Here is a real estate scam that hurt 4 home buyers.

Illinois Man Pleads Guilty to Internet Auction Real Estate Scam

U.S. Attorney’s Office December 13, 2011
  • Northern District of Alabama (205) 244-2001
 
BIRMINGHAM—An Illinois man pleaded guilty Monday in federal court to an Internet auction scam in which he advertised and sold property in northwestern Alabama that he did not own or never provided title for after receiving payment, announced U.S. Attorney Joyce White Vance and FBI Special Agent in Charge Patrick J. Maley.

KEITH D. GUNTER, 49, pleaded guilty before U.S. District Judge Karon O. Bowdre to three counts each of wire fraud and mail fraud. Through his fraud, Gunter stole more than $200,000 from four victims outside Alabama, according to his plea agreement with the government. Gunter is scheduled for sentencing March 27.

Between July 2006 and July 2007, according to Gunter’s plea agreement, he represented himself as a real estate developer and devised a scheme to sell real property over the Internet auction site eBay. He owned an entity named Gunter Development Group and one called Gunter Development Inc., which he used to conduct his real estate transactions. Although he conducted some legitimate transactions, many were fraudulent because he either did not own the land he was attempting to sell or did not provide title after victims paid to purchase the property.
In his plea, Gunter acknowledges the following fraudulent transactions:
  • On Nov. 27, 2006, through Gunter Development Group, Gunter advertised a 1,583 square-foot house for sale in Rogersville. A Chicago man bid $50,100 and later wired $50,795 to a GDG bank account. The Chicago buyer never received title to the property, which Gunter did not own.
  • In April 2007, Gunter, through GDG, advertised property for sale in White Oak Village near Florence. An Idaho man saw the ad on eBay and negotiated with Gunter to buy three lots with pre-constructed homes for $100,000 each. The man wired two payments, totaling $30,000 to Gunter as a down payment. He never received anything for the down payment.
  • In February 2006, Gunter contacted an Illinois man and offered to sell him property in a development called Gunter Circle in Lauderdale County. The man mailed Gunter a $30,000 cashier’s check for the property. He never received deeds to the property, which Gunter did not own.
  • In December 2006, Gunter, through GDG, advertised two quarter-acre lots for sale in Rogersville. A Wisconsin woman bid for them online and was later contacted by Gunter. She agreed to buy four lots for $7,000, wiring one payment through the Internet for $3,500 and mailing a second $3,500 cashier’s check. She never received deeds to the property.
Gunter could face a maximum sentence of 20 years in prison and a $250,000 fine on each count.

Before this happens to you, contact the Dowell Taggart Team for some professional assistance. 



RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

Comments are appreciated! Go ahead and add your 2 cents . . .
We have 3 easy steps to find you the perfect home . Click here to get started, today!

kansas city real estate network - dowell taggart team
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.

Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.


start kansas city home real estate search, find kansas city real estate house why use kansas city real estate network kansas city home evaluation, house appraisal, kansas city home value

Tuesday, December 20, 2011

Mortgage Loan Modification Scheme Gets Busted

4 men plead guilty to conspiracy to defrauding approximately 4,000 underwater homeowners. 

According to court documents, the men opened up loan modification business in 2008. They used high-pressure sales tactics and outright lies to induce customers to purchase $1,995 to $4,495 loan modification services. They used false claims that they had a team of attorneys who pre-screened clients and had a 98% success rate in obtaining loan modifications.

The loan modification business pretended that they had a special relationship with a particular client’s bank, or that the company had helped thousands of happy homeowners with loan modifications. The telemarketers even persuaded homeowners to pay the company’s fees instead of using their limited funds to stay current on their mortgage payments.

Through the use of false representations and promises,  the fraudulent loan modification business obtained more than $11 million in client payments between 2008 and 2010 from more than 4,000 homeowners across the country.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Here is an ad from the fraudulent loan modification business:

It is our mission and highest priority to provide Americans in every city with an ethical, affordable, and effective program in obtaining multiple solutions to financial freedom. Our vision is to create the largest and most reputable law firm in the country by providing education, customized client resolutions, and 100% customer service/satisfaction. It is evident, through the financial crisis that is taking place in all aspects of lending, that consumers need a personal advocate to help intervene. 1st American Law Center and Gary Bobel are committed to protecting all Americans from predatory lending and financial distress. It is our confident belief that success ultimately depends on establishing a customer service and relationship oriented environment, that instills the integrity in each team member in the crusade of “Protecting The American Dream.”

Please be aware of loan modification schemes.  



RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

Comments are appreciated! Go ahead and add your 2 cents . . .
We have 3 easy steps to find you the perfect home . Click here to get started, today!

kansas city real estate network - dowell taggart team
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.

Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.


start kansas city home real estate search, find kansas city real estate house why use kansas city real estate network kansas city home evaluation, house appraisal, kansas city home value

Monday, December 19, 2011

6 Fannie Mae and Freddie Mac Top Executives Charged with Securities Fraud

6 Fannie Mae and Freddie Mac Top Executives Charged with Securities Fraud

The U.S. Securities and Exchange Commission on Friday charged 6 six Fannie Mae and Freddie Mac former top executives, including their former chief executives, with securities fraud. The U.S Securities and Exchange Commission allege that the 6 former executives misled investors about the extent of the their exposure to higher-risk subprime loans.
Fannie Mae, known officially as the Federal National Mortgage Association, and Freddie Mac, officially the Federal Home Loan Mortgage Corp., both entered into non-prosecution agreements with the commission. Each agreed to accept responsibility for their conduct without admitting or denying liability. Both government-sponsored enterprises also agreed to cooperate with the commission's actions against the former executives.



RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

Comments are appreciated! Go ahead and add your 2 cents . . .
We have 3 easy steps to find you the perfect home . Click here to get started, today!

kansas city real estate network - dowell taggart team
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.

Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.


start kansas city home real estate search, find kansas city real estate house why use kansas city real estate network kansas city home evaluation, house appraisal, kansas city home value

Thursday, December 15, 2011

President Barack Obama’s Financial Fraud Enforcement Task Force Finds Big Real Estate Fraud Scheme

Four real estate investors and an auctioneer were indicted for their participation in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, California.
The indictment charges real estate investors Wiley C. Chandler, Andrew B. Katakis, Donald M. Parker and Anthony B. Joachim, and auctioneer W. Theodore Longley with conspiring with other unnamed co-conspirators to rig bids and commit mail fraud when purchasing selected properties at public real estate foreclosure auctions.
According to the indictment the conspirators agreed to suppress and restrain competition by rigging bids to obtain selected properties offered at public auctions in San Joaquin County, Calif. The conspirators also devised a scheme to fraudulently acquire titles to selected properties sold at the public auctions and to divert money to co-conspirators that would have gone to the beneficiaries. The indictment alleges that the conspiracy lasted from at least September 2008 until at least October 2009.
“The ongoing investigation demonstrates the Antitrust Division’s resolve to stop conspiracies that suppress competition at real estate foreclosure auctions.” said Acting Assistant Attorney General Pozen. “The division will continue to work with our law enforcement partners to investigate bid-rigging conspiracies in real estate foreclosure auctions in the Sacramento area and northern California.”
“The indictment unsealed today alleges that the defendants engaged in conspiracy, deceit, and heavy-handed tactics to take advantage of a depressed housing market,” said U.S. Attorney Wagner. “This indictment follows a lengthy investigation and a series of guilty pleas by other participants in this activity. But our work is not done. Anticompetitive practices in real estate foreclosure auctions not only harm financial institutions, but drive down home values for other homeowners throughout the region. My office will continue to investigate and prosecute such conduct.”
According to the court documents, after the conspirators’ designated bidder bought a property at a public auction, they would hold a second, private auction, at which each participating conspirator would bid the amount above the public auction price he or she was willing to pay. The conspirator who bid the highest amount at the end of the private auction won the property. The difference between the price at the public auction and that at the second auction was the group’s illicit profit, and it was divided among the conspirators in payoffs.
To date, eight individuals have pleaded guilty in U.S. District Court for the Eastern District of California in connection with the investigation. 
Today’s charges are part of efforts underway by President Barack Obama’s Financial Fraud Enforcement Task Force.  One component of the task force is the national Mortgage Fraud Working Group, co-chaired by U.S. Attorney Wagner. For more information on the task force, visit www.StopFraud.gov.
RE/MAX sells more homes than any other real estate company.

For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

Comments are appreciated! Go ahead and add your 2 cents . . .
We have 3 easy steps to find you the perfect home . Click here to get started, today!

kansas city real estate network - dowell taggart team
Short sales, foreclosures, luxury homes, investor homes, first time home buyer homes, land, investment properties and move up buyers.

Gardner, Olathe, Overland Park, Leawood, Lenexa, Shawnee, Mission, Merriam, Prairie Village, Basehor, Tonganoxie, Lansing, Leavenworth, Spring Hill, Eudora, De Soto, Edgerton, Platte City, Smithville, Gladstone, Liberty, Riverside, Independence, Lee's Summit, Pleasant Hill, Raymore, Belton, Grandview, Raytown, Waldo and the surrounding Kansas City communities.


start kansas city home real estate search, find kansas city real estate house why use kansas city real estate network kansas city home evaluation, house appraisal, kansas city home value

Tuesday, September 20, 2011

Ex-Leawood, Kansas Attorney Pead Guilty to Wire Fraud in Real Estate Ponzi Scheme


Ex-Leawood, Kansas Attorney Pead Guilty to Wire Fraud in Real Estate Ponzi Scheme

James Scott Brown, 66, of Leawood, Kansas, plead guilty to participating in a conspiracy to commit wire and mail fraud. During a 10-year period from 2000 to 2010, investors in the United States loaned a total of $52.5 million to Smith and co-conspirators through a Real Estate Ponzi scheme that was known as the British Lending Program (BLP). Victims believed they were loaning money for legitimate real estate development projects, but in reality, most of their money was kept by co-conspirators (or used to pay interest and principal to other lenders).

Brown, an attorney, participated in the UMKC program at Oxford University. During the past decade, Brown did not actively practice law; instead, Brown’s primary occupation was the BLP, from which he took substantial fees. Brown did business as British American Group and as J. Scott Brown and Associates.

According to plea agreements, the British Lending Program (BLP) operated as a Ponzi scheme and served as a fee-generating machine for the benefit of co-conspirators.



RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

Comments are appreciated! Go ahead and add your 2 cents . . .
We have 3 easy steps to find you the perfect home . Click here to get started, today!

kansas city real estate network - dowell taggart team

start kansas city home real estate search, find kansas city real estate house why use kansas city real estate network kansas city home evaluation, house appraisal, kansas city home value

Thursday, March 3, 2011

Bad Guys Take Advantage of Kansas City Homeowners

Bad Guys Take Advantage of Kansas City Homeowners

Phillip A. Flora, A Huntington Beach, California man hunted down people who were behind on the mortgage payments and sold the leads. That didn’t get Phillip in trouble. So what did get him into trouble? It was how he got the leads.

Phillip Flora was promoting his website loanmodgov.net as a U.S. government affiliated website. The website tricked unsuspecting mortgage borrowers into providing personal contact information. Phillip sent out over 5 million illegal text messages promoting his website. Cell phone users would pay fees to cell phone carriers for the text messages.

Once Phillip Flora would get borrowers information, even from cease and desist request, Phillip would sell the leads as “debt settlement leads.”

The text-spamming scheme is facing an FTC complaint. Phillips assets have been frozen and he has a permanent injunction to prevent him from texting to promote his business ever again.

If you know of someone who has hit hard times and is possibly under water on their mortgage, don’t let them fall prey to corrupt business practices.

The Dowell Taggart Team of RE/MAX Best Associates has a plan to help homeowners out of difficult situations....Are you under water with your mortgage? We can help borrowers with loan forbearance's, loan modifications, and short sales.  Would you like a reference? 


Should we talk . . .?



RE/MAX sells more homes than any other real estate company.

For a reason...should we talk?

Let us know what you think or add to our blog by writing a comment. Do you have a real estate question for the Real Estate Wizards? Email us at RealEstateWizard@DowellTaggart.com

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

Tuesday, June 22, 2010

Overland Park, Kansas man convicted of US Bankruptcy Charges


Overland Park, Kansas man convicted of US Bankruptcy Charges

James Moser, 66, of Overland Park, has been convicted on bankruptcy fraud charges, U.S. Attorney Lanny Welch said Monday.
A federal jury returned a verdict Monday in a trial that began June 14 in U.S. District Court in Topeka. The jury found Moser guilty on one count of conspiracy to commit bankruptcy fraud and eight counts of bankruptcy fraud.
On April 27, 2005, Moser and his wife, Doris Elaine Moser, filed for Chapter 7 bankruptcy. During trial, prosecutors presented evidence that James Moser:
  • Concealed information about the Mosers' option to purchase 16.5 acres of prime real estate at 12700 W. 151st Street in Olathe, Kan., where they operated Hallmark Arabian Farms, LLC, a fully equipped Arabian horse training facility including barn, stables, saddles, tack and personal property.
  • Concealed the fact the Mosers had $125,000 worth of gold and sliver coins and collectible stamps. James Moser claimed the items had been transferred to F. Jeffrey Miller, who owned the land they rented for Hallmark Arabian Farms. In fact, the items only had been pledged as collateral for rent owed to Miller.
  • Concealed the Mosers' right to a commission of up to $450,000 for marketing and sale of the property at 12700 W. 151st Street in Olathe.
"Criminal bankruptcy fraud threatens the integrity of the bankruptcy system, as well as public confidence in the system," said Richard Wieland, United States Trustee for Kansas, Oklahoma, and New Mexico (Region 20). "We appreciate U.S. Attorney Lanny Welch's commitment to combating fraud and abuse in the bankruptcy system, as demonstrated by this successful prosecution."
The U.S. Trustee Program is the component of the Justice Department that oversees case administration and litigation to enforce bankruptcy laws. Region 20 is headquartered in Wichita, with offices in Albuquerque, Oklahoma City, and Tulsa.
Doris Elaine Moser is set for trial Aug. 2.
James Moser is set for sentencing Sept. 20. He faces a maximum penalty of five years in federal prison and a fine up to $250,000 on each count.
Welch commended the Office of the U.S. Trustee in Kansas, the Internal Revenue Service, Assistant U.S. Attorney Christine Kenney, and Assistant U.S. Attorney Richard Hathaway for their work on the case.



Let us know what you think or add to our blog by writing a comment.

Blog post written by the Dowell Taggart Team of RE/MAX Best Associates

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