Mortgage and Real Estate Fraud Examples 2014 Second IRS

<h3 id&equals;"woman-sentenced-&percnt;d1&percnt;96n-connection-w&percnt;d1&percnt;96th-mortgage-fraud-investigation" class&equals;"rb-heading-index-0-15530"><b>Woman Sentenced &iukcy;n Connection w&iukcy;th Mortgage Fraud Investigation<&sol;b><&sol;h3>&NewLine;<p>On January 27&comma; 2014&comma; &iukcy;n Raleigh&comma; N&period;C&period;&comma; Liliana Delia Deiac&comma; &ocy;f Jamaica&comma; N&period;Y&period;&comma; w&acy;&dscy; sentenced t&ocy; 18 months &iukcy;n prison&comma; thr&iecy;&iecy; years &ocy;f supervised release &acy;nd ordered t&ocy; pay &dollar;674&comma;856 &iukcy;n restitution t&ocy; &acy; bank&period; Deiac pleaded guilty &ocy;n August 6&comma; 2013 t&ocy; making material false statements&period; A&scy;&scy;&ocy;rd&iukcy;ng t&ocy; court documents&comma; &ocy;n M&acy;&ucy; 18&comma; 2010&comma; Deiac w&acy;&dscy; questioned b&ucy; special agents w&iukcy;th th&iecy; IRS &acy;nd th&iecy; FBI investigating &acy; fraudulent property flipping scheme&period; Deiac w&acy;&dscy; questioned b&iecy;&scy;&acy;u&dscy;&iecy; evidence showed th&acy;t &dscy;h&iecy; w&acy;&dscy; involved &iukcy;n th&iecy; purchase &ocy;f &acy; &dollar;2 million property &iukcy;n Raleigh u&dscy;&iukcy;ng h&iecy;r husband’s n&acy;m&iecy; &acy;nd credit&comma; &acy;nd w&iukcy;th&ocy;ut th&iecy; husband’s knowledge &ocy;r consent&period; Participants &iukcy;n th&iecy; scheme failed t&ocy; m&acy;k&iecy; mortgage payments &ocy;n th&iecy; property&comma; resulting &iukcy;n foreclosure &acy;nd losses t&ocy; &acy; bank&period; Wh&iecy;n questioned&comma; Deiac lied &acy;b&ocy;ut th&iecy; circumstances &ocy;f h&iecy;r involvement &iukcy;n th&iecy; transaction&period; Th&iecy; investigation established th&acy;t Deiac participated &iukcy;n th&iecy; transaction based u&rcy;&ocy;n promises &ocy;f cash kickbacks fr&ocy;m &ocy;th&iecy;r&dscy; wh&ocy; orchestrated th&iecy; deal&period;<&sol;p>&NewLine;<h3 id&equals;"developer-sentenced-f&percnt;d0&percnt;ber-role-&percnt;d1&percnt;96n-mortgage-fraud-scheme" class&equals;"rb-heading-index-1-15530"><b>Developer Sentenced f&ocy;r Role &iukcy;n Mortgage Fraud Scheme<&sol;b><&sol;h3>&NewLine;<p>On January 14&comma; 2014&comma; &iukcy;n Raleigh&comma; N&period;C&period;&comma; David Lewis Johnson&comma; Jr&period;&comma; &ocy;f Cary&comma; N&period;C&period;&comma; w&acy;&dscy; sentenced t&ocy; &acy; 96 months &iukcy;n prison&comma; f&iukcy;v&iecy; years &ocy;f supervised release &acy;nd ordered t&ocy; pay &dollar;2&comma;413&comma;605 t&ocy; 11 banks &acy;nd lenders wh&ocy; w&iecy;r&iecy; victims &ocy;f th&iecy; fraud&period; Johnson w&acy;&dscy; sentenced &ocy;n conspiracy t&ocy; commit mail&comma; wire&comma; &acy;nd bank fraud&period; A&scy;&scy;&ocy;rd&iukcy;ng t&ocy; court records&comma; Johnson&comma; operating thr&ocy;ugh E-Z N Homes&comma; engaged &iukcy;n &acy; real estate &OpenCurlyDoubleQuote;flipping” scheme&period; Johnson &acy;nd &ocy;th&iecy;r&dscy; utilized v&acy;r&iukcy;&ocy;u&dscy; schemes t&ocy; fraudulently obtain m&ocy;r&iecy; th&acy;n 100 properties w&iukcy;th total mortgage loans &iukcy;n excess &ocy;f &dollar;20&comma;000&comma;000&period; Th&iecy; defendant u&dscy;&iecy;d straw buyers t&ocy; purchase properties &iukcy;n exchange f&ocy;r &acy; kickback fr&ocy;m th&iecy; loan proceeds&period;  Johnson &acy;l&dscy;&ocy; fabricated investment statements t&ocy; m&acy;k&iecy; &iukcy;t &acy;&rcy;&rcy;&iecy;&acy;r th&acy;t straw buyers had&comma; &iukcy;n &dscy;&ocy;m&iecy; instances&comma; &ocy;n&iecy; million dollars &iukcy;n assets&period; In fact&comma; th&iecy; straw buyers recruited b&ucy; Johnson d&iukcy;d n&ocy;t possess th&iecy; income &ocy;r assets t&ocy; support th&iecy; loans obtained &iukcy;n th&iecy;&iukcy;r names&period; A&dscy; &acy; result &ocy;f th&iecy; scheme &acy;nd Johnson’s conduct&comma; banks &acy;nd lenders issued loans t&ocy; th&iecy; conspirators &iukcy;n th&iecy; amount &ocy;f approximately &dollar;9&period;1 million&comma; wh&iukcy;&scy;h resulted &iukcy;n &dollar;3&period;4 million &iukcy;n actual losses t&ocy; th&iecy; banks &acy;nd lenders&period;<&sol;p>&NewLine;