Financial News Headlines

Orlando man pleads guilty to mortgage fraud, 2nd conviction in 4 yrs

January 23rd, 2010

In the following press release from the Middle District of Florida, United States Attorney A. Brian Albritton announced that U.S. District Judge Anne C. Conway today sentenced Garry S. Martin (age 36, of Orlando) for conspiring to commit money laundering in connection with various mortgage fraud schemes and violating the terms of his supervised release. As part of his sentence, the court also ordered that Martin pay more than $1 million in restitution to his victims. Martin pleaded guilty to the charges on July 16, 2009.

According to the plea agreement, Martin was convicted in the United States District Court for the Eastern District of New York in 2006 for engaging in mortgage fraud.

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Fairfield (OH) man pleads guilty in $7 million real estate investment fraud

January 22nd, 2010

In the following press release it was announced that Kevin Miller, 55, of Fairfield, pleaded guilty in United States District Court here today to one count of conspiracy to commit mail fraud and one count of obstruction of an investigation for his role in a real estate investment fraud scheme between 2005 and 2008 that defrauded approximately 80 victims out of approximately $7.3 million.

Carter M. Stewart, United States Attorney for the Southern District of Ohio, Gerald A. O’Farrell, Assistant Inspector in Charge, U.S. P

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Tags: Fraud, Investment Fraud

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Financial Experts Recommend New Bankruptcy Option

January 22nd, 2010

Black Rock, the world’s leading asset management company, suggests that consumers befallen by falling home values and longstanding unemployment need a new bankruptcy option. Under current U.S. bankruptcy laws, consumers can file Chapter 13, Chapter 7, or in some cases a Chapter 11 bankruptcy. None of these options allow for modifying the terms of a primary mortgage loan. M

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Tags: Bankruptcy Option, New Bankruptcy, New Bankruptcy Option, Option

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Taxing Times: The Make Work Pay credit continues in 2010

January 20th, 2010

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The small dollar amounts make it easy to forget that the Making Work Pay tax credit has been showing up in U.S. workers’ paychecks since about April 2009. On Friday, the IRS came out with a reminder of things to keep in mind about the tax break, which provides a refundable credit of up to $400 for individuals and up to $800 for married taxpayers filing joint returns.

The credit continues in 2010, but “you may notice that your paychecks are slightly lower than in 2009,” the IRS said.

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Tags: Make, Make Work

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Three charged in Miami area mortgage fraud allegations

January 20th, 2010

In the following press release Jeffrey H. Sloman, United States Attorney for the Southern District of Florida, Michael K. Fithen, Special Agent in Charge, U.S. Secret Service, Miami Field Office, and Al Lamberti, Sheriff, Broward County Sheriff’s Office, announced that Jerry Arthur Riggs, Jacqueline Lopez, and Novelette “Faye” Hanse, all of Broward County, Florida, were charged in a nine count Indictment in connection with their participation in a mortgage fraud scheme. The case has been assigned to U.S. District Court Judge Kenneth A. Marra in West Palm Beach, Florida. The defendants made their initial appearances this morning before U.S. Magis

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Tags: Miami, Miami Area

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Loans till Payday-Get financial help right now to bridge the cash gaps

January 20th, 2010

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Tags: Financial, Financial Help

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