Major Fraud Cases - Burch, Porter & Johnson, PLLC

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Major Fraud Cases:
What to Look for and How to Avoid It
By:
R. Porter Feild, Esq.
Burch, Porter & Johnson, PLLC
130 North Court Avenue
Memphis, Tennessee 38103
(901) 524-5000
Presented to:
2010 Real Estate Law Conference
Cool Springs
Tennessee Attorney’s Memo
1.
2.
Mortgage Fraud
1.
Tennessee Law
2.
Federal Law
3.
U. S. Justice Department
4.
FBI Definition
5.
Other Definitions
a.
Property Fraud / JP Example
b.
For Profit Fraud
c.
Appraisal fraud / Property Flipping
d.
Slamming / Stacking / Shotgunning
e.
Equity Skimming / Equity Stripping
f.
Foreclosure Rescue Schemes
g.
Mortgage Workout Schemes
Evans Case
1.
The Players
a.
Individuals – Charles and Chris Evans
b.
Companies – 25 Mississippi LLCs
c.
Lending Institutions – 32 Banks
d.
Title Company – 1 Title Company
e.
Malpractice Insurer
2.
The Property
3.
The Scheme
4.
3.
a.
Arrest
b.
Bankruptcy
c.
Malpractice Claim
Matt Cox Case
1.
4.
The Fall-Out
The Players
a.
Individuals – Matt Cox, Rebecca Hauck
b.
Lending Institutions
c.
Stolen Identities
d.
Title Companies
2.
The Properties
3.
The Scheme
4.
The Fallout
a.
Criminal Charges
b.
$12 Million Restitution Award
Additional Cases
A.
Smith Case
-
Foreclosure Rescue
-
Contract to Pay Mortgage
-
No consent from Lender
-
Quitclaim to Property
-
Victim
- Lending Institution
- Seller
B.
C.
D.
Holder Case
-
MTSU Professor – PhD.
-
Created Straw Buyer
-
Borrowed $2.4M on a $1.5M Home – Hendersonville, TN
-
False Documents Showing Income and Job of Straw Buyer
-
“Team fat Man”
-
3 Banks
-
Sentenced – 12 months and 1 day
Wilkes Case
-
Mortgage Flipping 2009
-
Conspiracy, Mail, Wire & Bank Fraud
-
The Scheme
-
The Properties
-
The Appraiser
-
The Notary
-
$12 Million Scheme
Pascal Case – 2006
-
Weatherman from Chattanooga
-
Mortgage and Wire Fraud
-
False Documents
-
Scheme
-
Players
-
The Properties
-
Fall-Out
5.
Tips for Detecting and Avoiding Mortgage Fraud
6.
Helpful Contact Information
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