Cuyahoga Prosecutor Indicts 1st 12 In Alleged $14M+ Cleveland-Area Mortgage Fraud Operation

In Cleveland, Ohio, WKYC-TV Channel 3 reports:

• The first 12 defendants(1) in a $14.7 million mortgage fraud case were indicted by the Cuyahoga County Prosecutor on offenses involving homes located at 615 North Main Street in Chagrin Falls, 2105 Woodstock Road in Gates Mills, Port Clinton and Toledo, among others. These defendants, including individuals from Wickliffe, Chesterland and Mayfield Village, were indicted on mortgage fraud offenses including engaging in a pattern of corrupt activity, a first degree felony, according to Cuyahoga County Prosecutor Bill Mason's office.(2)

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• According to Mason's office, these twelve defendants and three companies -- The Equator Group, Century 21 Homestar Realty, and Homestar Title Agency -- were indicted for engaging in a pattern of corrupt activity that secured $14,766,515 in fraudulent loans used to purchase seven homes in Cuyahoga, Ottawa and Lucas counties. [...] Six of the seven houses fell into foreclosure.

For more, see Prosecutor: 12 indicted in $14 million mortgage fraud case.

(1) The defendants include: Deborah Brazalovics, 56, of Wickiffe; Paul Brazalovics, 33, of Wickliffe; Anthony Geraci, 39, of Mayfield Village; Richard Kilfoyle, 50, of Chesterland; William Werner, 39, of Cleveland; Andrew Fishman, 35, of Hollywood, FL; James Trungale, 40, of Austin, TX; Diane Marciel, 48, of Woodland Hills, CA; Susan Alt, 56, of Santa Monica, CA; Joanne Schmidt, 56, and her husband, Howard Schmidt, 56, both of Agoura Hills, CA; and Charlotte Gill, 38, of Southwest Harbor, ME.

(2) Reportedly, the investigation was conducted by the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General Richard Cordray and Ohio's Organized Crime Investigations Commission.