June 21, 2010 - ST. LOUIS, MO—Following an announcement today by Attorney General Eric Holder in Washington, D.C., the U.S. Attorney’s Office for the Eastern District of Missouri, announced the regional results of the nationwide takedown "Operation Stolen Dreams," which targeted mortgage fraudsters in the Eastern District of Missouri and throughout the country and is the largest collective enforcement effort ever brought to bear in confronting mortgage fraud.
The United States Attorneys Office has been prosecuting mortgage fraud cases for many years and, since 2008, has operated a mortgage fraud task force consisting of federal and local law enforcement, regulators, and stakeholders in the real estate community, including real estate agents, bankers, appraisers, and the mortgage industry.
The 12 mortgage fraud prosecutions in the Eastern District of Missouri between March 1, and today, as part of Operation Stolen Dreams cases include:
Kamille Randolph, 33, of St. Louis, Missouri, a straw buyer in a scheme involving two fraudulent mortgage loans and a fraudulent car loan. Randolph pled guilty and was sentenced on May 11, 2010 to two years’ probation. The case was investigated by the Social Security Administration Office of Inspector General.
Relda Stewart, 30, of St. Louis, Missouri, was indicted for bank fraud as it related to a fraudulent mortgage loan and two car loans between 2005 and 2009. Trial is set to begin on Monday, June 28, 2010. This case is currently be investigated and handled by the Social Security Administration Office of Inspector General.
Jayson Monroe, 27, of St. Louis, Missouri, was indicted on charges of wire fraud, money laundering and illegal possession of firearms. Monroe obtained a fraudulent mortgage loan by falsifying his income. Monroe is to be sentenced in July, 2010. The case was investigated by the Federal Bureau of Investigation.
Randall Penberthy, 40, of St. Charles, Missouri, was indicted on bank fraud charges occurring between 2003 through October 2008 in which he executed a scheme to defraud financial institutions by means of material and false representations. Penberthy received a sentence of 33 months' imprisonment on May 19, 2010. The case was investigated by the Federal Bureau of Investigation and the United States Postal Inspection Service.
Kenneth Neely, 57, of St. Charles, Missouri, was charged with mail fraud in connection with a mortgage fraud. Neely received a sentence of 37 months' imprisonment. The case was investigated by United States Postal Inspection Service, Federal Bureau of Investigation and FINRA.
Aaron Duncan, of St. Charles County, Missouri, was indicted on mail fraud, wire fraud and money laundering charges relating to real estate investment fraud during the years 2006 to 2008. Duncan has not been sentenced. The case was investigated by IRS, United States Postal Inspection Service, Federal Bureau of Investigation and the Missouri Secretary of State Securities Division.
A.J. Adewunmi, 42, of Chesterfield, Missouri; Christian Joel Juan, 30, of St. Louis, Missouri; and and Patricia Denisse Olmos, 32, of St. Louis, Missouri, were indicted June 3 on a one felony count of conspiracy to commit mail fraud and wire fraud, five felony counts of mail fraud, and one felony count of making a false statement between 2003 and 2005. The case was investigated by the U.S. Department of Housing and Urban Development.
Jeremy Beadel, 37, of St. Charles, Missouri, a developer and mortgage broker was indicted on February 4, 2010, for wire and mail fraud in connection with submitting false mortgage loan applications. Beadel is set for trial at the beginning of July 2010. The case was investigated by the Federal Bureau of Investigation.
Rebecca J. Domecillo, 48, of Lake St. Louis, Missouri, was indicted on February 4, 2010 of mail fraud charges for her role in acting as a real estate manager and failing to make rental payments on properties she managed during June 2005 and December 2008. Domecillo sentencing date is set for August 10, 2010. The case was investigated by the Federal Bureau of Investigation.
Brian Rickert, 30, of Creve Coeur, Missouri, was indicted for his role in a real estate development fraud in which he submitted fraudulent loan applications in a scheme that took place in 2006 and 2007. On May 13, 2010, Rickert received a sentence of 27 months’ imprisonment, restitution in the amount of $700,000. The case was investigated by IRSCriminal Investigation and the U.S. Secret Service.
The sweep was organized by President Obama’s interagency Financial Fraud Enforcement Task Force, which was established to lead an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes. Starting on March 1, to date Operation Stolen Dreams involved 1,215 criminal defendants nationwide, including 485 arrests, who are allegedly responsible for more than $2.3 billion in losses. Additionally, to date the operation has resulted in 191 civil enforcement actions which have resulted in the recovery of more than $147 million.
“Mortgage fraud ruins lives, destroys families, and devastates whole communities, so attacking the problem from every possible direction is vital,” said Attorney General Holder. “We will use every tool available to investigate, prosecute, and prevent mortgage fraud, and we will not rest until anyone preying on vulnerable American homeowners is brought to justice.”
Unlike previous mortgage fraud sweeps, Operation Stolen Dreams focused not only on federal criminal cases, but also on civil enforcement, recovering money for victims, and increasing cooperation with state and local partners.
The President’s Financial Fraud Enforcement Task Force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes. For more information on the task force, visit StopFraud.gov.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment