Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Tuesday, May 29, 2012
Theft By Deception Among Charges For Newark Man Accused Of Using Stolen ID To Sell His Own Home To Unwitting Victim, Then Purchase & Move Into Another
From the Office of the New Jersey Attorney General:
Attorney General Jeffrey S. Chiesa announced that a Newark man was indicted [] for allegedly stealing approximately $1.2 million from two mortgage lenders by using a stolen identity and false information to obtain two home loans, which he used to sell his home in Newark and acquire a luxury home in Georgia.
Davionne Anderson, 41, of Newark, and his unregistered real estate investment company, AAA Investment Group, were each charged in a five-count state grand jury indictment with two counts of second-degree theft by deception, two counts of second-degree identity theft and one count of third-degree money laundering. The charges stem from an investigation by the Division of Criminal Justice Financial & Computer Crimes Bureau.
In April and May of 2007, Anderson and AAA allegedly used a woman’s stolen identity and false information to obtain a total of $1,205,250 in loans, which Anderson used to buy two homes in the woman’s name: a home that he himself owned in Newark, and a home in Georgia that was owned by an innocent seller who was unaware of the fraud. [...] After completing the phony sale of his own home and acquiring the Georgia home in the name of the unsuspecting buyer, Anderson moved into the Georgia home with his wife
“Using a single stolen identity and two fraudulent loan applications, this defendant from Newark allegedly stole over a million dollars from lenders and attempted to settle into a luxury home in Georgia that we allege he never intended to pay for,” said Attorney General Chiesa.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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