Today's Date: Add To Favorites
6 accused in Mass. mortgage scheme
Court Watch | 2009/12/24 21:03
Three real estate investors, two mortgage brokers and a disbarred attorney have been indicted for allegedly participating in a complex scheme to defraud homeowners and mortgage lenders in the Boston area, authorities announced Tuesday.

The six defendants are charged with larceny and making false or exaggerated statements.

State Attorney General Martha Coakley, who announced the indictments at a news conference, said the scheme netted more than $2 million in proceeds.

Those charged were: Joshua Brown, 29, of Brockton; Brian Frank, 32, of New Hartford, N.Y.; and John Sweetland, 28, of Yorba Linda, Calif., all identified as real estate investors. Mortgage brokers Linda Defeo, 28, of Springfield, and Brian Arrington, 39, of Boston, were also charged.

Former attorney Bruce Namenson, 47, of Walpole, was also charged. In unrelated cases, Namenson was disbarred in 2008 for converting clients' money for his own use and sentenced to five years in prison after pleading guilty to motor vehicle insurance fraud.

Authorities allege that Brown, Frank and Sweetland, of Boston Equity Investments, used inflated property appraisals and other fraudulent documents to obtain approximately $12.5 million in loans from more than a dozen financial lending institutions to purchase 26 multifamily homes.

They allegedly arranged for the sellers to receive much less money for the sales than the maximum amount of financing that BEI was able to get from the lenders in the homebuyers' names. At closings, BEI would pocket the difference, which was usually between $50,000 and $100,000, and sometimes as much as $150,000, Coakley said.



[PREV] [1] ..[1464][1465][1466][1467][1468][1469][1470][1471][1472].. [1875] [NEXT]



All
Legal Business
Headline Legal News
Court News
Court Watch
Legal Interview
Topics in Legal News
Attorney News
Press Release
Opinions
Legal Marketing
Politics
Courts: Bail reform working, but sus..
Maldives court delays reinstating pr..
Inmate in landmark Supreme Court cas..
GOP to take new congressional map to..
Afghans submitted 1.17 million war c..
City, landowner appeal Supreme Court..
Ohio court to hear online charter sc..
Beleaguered gunmaker Remington point..
Court: Ex-West Virginia judge inelig..
Wisconsin Supreme Court primary will..
Kushner firm seeks court change to k..
Judge to ask EU court about post-Bre..
 Law Firm Web Design Information
Law Promo has worked with attorneys, lawyers and law firms all over the world in designing beautiful law firm websites that look great on all devices, from desktop computers to mobile phones. Law Promo can construct your law firm a brand new responsive law firm website, or help you redesign your existing site to secure your place in the mobile world. Law firm website design by Law Promo


   Lawyer & Law Firm Links
Houston Car Accident Attorneys
Wrongful Death Attorneys Houston
Houston Wrongful Death
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Law Firm Website Designs
Law Office Website Solutions
www.webpromo.com
Amherst, Ohio Divorce Lawyer
Sylkatis Law - Child Custody
loraindivorceattorney.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Fort Lauderdale DUI Lawyer
Miami Drug Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Lawyer
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
 
 
Disclaimer: The content contained on the web site has been prepared by Romeo Media as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. Legal Business News for You to Reach America's Legal Professionals. Get the latest legal news and information.