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.
Wednesday, September 30, 2015
Pair (30 Months & 46 Months) Get Shipped Off To Prison While 3rd Scammer Awaits Sentencing For Roles In Racket Where They Acquired Title To Homes In Foreclosure, Then Recorded Fraudulent Satisfaction Of Mortgage, Then Flipped Property Now Purporting To Be Free & Clear Of Liens To Unwitting Buyers, Pocketing Million$
In Honolulu, Hawaii, the Honolulu Star Advertiser reports:
A federal judge [] sentenced two people to 30 months and 46 months in prison for their roles in a mortgage fraud scheme that involved seven properties in Honolulu and Kona.
Visiting U.S. District Senior Judge Charles R. Breyer sentenced Sakara Blackwell, the real estate broker formerly known as Dawn Sakaguchi, to the 30-month prison term. It was Blackwell who handled the sales of the properties that still had mortgages on them to buyers who were unaware of the mortgages.
One of the unsuspecting buyers is an employee of the court’s Probation and Pretrial Services.
Breyer, who is from the Northern California District, handled Tuesday’s sentencing because all of the Hawaii District judges had recused themselves.
He handed the 46-month term to Marc Melton, who drafted all of the bogus documents the trio used to convince escrow companies that the properties were unencumbered by mortgages.
Breyer ordered Melton to forfeit to the government $129,307 authorities seized from a bank account associated to him and ordered Melton to pay, along with his co-defendants, $881,755 restitution.
The restitution amount is the difference between what the buyers paid for the seven properties and what the properties are worth.
Breyer ordered Blackwell to also pay restitution. What portion of the $881,755 for which she is jointly responsible will be determined at a later date. What will also be determined at a later date is who will receive the restitution..
A third defendant, Jennifer McTigue, will be sentenced on Oct. 26.
According to court documents, the three worked together to buy and sell homes, creating false documents to trick banks and the state. They would purchase properties that were in foreclosure and submit false documents to obtain a title on the home that eliminated the lien on the property.
They would then turn around and sell the home for profit, collecting a total of more than $3 million illegally.
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)
<< Home