FBI Raids Alaska Title Company In Mortgage Fraud Investigation; Seeks Documents

The offices of Alyeska Title Guarantee, an Alaska title insurance and closing agent, was raided by the FBI on Wednesday, according to a report by KTVA - CBS 11 in Alaska. Reportedly, the FBI was seeking information on transactions involving specific people and specific properties in Anchorage and confirmed that they took financial documents during the search, but would not identify either the documents taken or the source of the fraud allegations. No arrests, yet - the investigation continues. To read more, see FBI raid surrounding allegations of mortgage fraud.
.

Alaska Mortgage Scammer Cops Plea

The Anchorage Daily News reports that

• "Kourosh Partow, an accused conspirator in a a seven-member mortgage fraud ring that operated in Anchorage since 2002, pleaded guilty to wire fraud in federal District Court on Friday morning. The six others have already pleaded guilty this year to charges in the criminal case, which involved deceiving mortgage lenders by overstating income or making other false statements on loan applications."

The real estate closings allegedly took place at Alyeska Title Company in Anchorage. For more, see Anchorage man pleads guilty to wire fraud (Mortgage Scam: Partow faces a prison term and as much as a $250,000 fine).

For story update, see Mortgage banker gets more than 2 years in prison (Associated Press - 8-27-07).

Go here for other posts on Anchorage mortgage scam.
.