Earlier this year, the former Chief Executive Officer of Georgia’s FirstCity bank was arrested. The day after his arrest, the indictment against him was unsealed. The ex-CEO was accused acquiring loans from his own bank and other banks under false pretenses. According to an article from Bloomberg News, this bank fraud resulted in the ex-CEO’s… Read More

In the present real estate market, law enforcement authorities have focused more of their resources on mortgage fraud and bank fraud cases. However, the types of cases presently being brought into court are different from the type of cases we see in a stronger real estate market. A recent case against a pair of real… Read More

The federal government has brought a civil action against mortgage giant Deutsche Bank and its subsidiary MortgageIT, alleging that the companies bilked the Federal Housing Administration out of $386 million in FHA mortgage insurance claims. Regulators allege that the companies committed mortgage and bank fraud by issuing nearly $5 billion in mortgages they knew the… Read More

An attorney closing agent from Plantation, Florida, has been acquitted of 13 federal counts of bank fraud and one count of conspiracy to commit bank fraud after a 10-month trial before the U.S. District Court for the Southern District of Florida. She was accused of taking part in a $7.9 million mortgage loan scam headed… Read More

In an investigation leveraging the full power and resources of the federal government, two former bank executives have been accused of bank fraud, conspiracy, and operating a continuing financial crimes enterprise while working for the now-defunct FirstCity Bank of Stockbridge. One of the men is also accused of fraudulently influencing the actions of a federally… Read More

In the aftermath of the Great Recession, bank failures can occur for many legitimate business reasons. Before the national real estate meltdown, many loans were made that by today’s standards may not have made economic sense. But that hardly means that a bank becoming over-extended mean that there has been bank or mortgage fraud, conspiracy,… Read More

A U.S. District Court judge in Houston has found financier Allen Stanford incompetent to stand trial. Stanford, who is accused of committing a $7 billion securities fraud, sustained a serious brain injury when he was attacked by an inmate during his pre-trial detention. Since then, he has been over-medicated to the point of addiction and… Read More

Federal bank regulators say that the collapse of Alpharetta, Georgia-based Integrity Bank owed at least partially to the fraudulent involvements of two of the bank’s former executives. Douglas Ballard and Joseph Todd Foster were senior vice presidents at Integrity. They pleaded guilty to bank fraud in federal court in Atlanta on Tuesday, July 6, two… Read More