Who to Contact Regarding Mortgage Fraud
By Daniel Edstrom
DTC Systems, Inc.
The following is a press release issued by the Department of Justice FBI’s Sacramento Office. It represents a fairly comprehensive list of who is going after mortgage fraud. While this press release covers the Sacramento and Fresno areas of California, it is highly likely there is a similar task force in your area.
Department of Justice Press Release
|For Immediate Release
June 16, 2011
|United States Attorney’s Office
Eastern District of California
Contact: (916) 554-2700 (916) 554-2700
NEW GRANDMA IN CALIFORNIA DOES SLEUTHING AND DISCOVERS MAJOR ROBO NOTARY VIOLATIONS WITH IMPLICATIONS FOR HOMEOWNER-BORROWERS, INVESTORS AND MAJOR BANKING & INVESTMENT FIRMS. IS THERE IRS TAX EVASION ON THE PART OF BANKS & INVESTMENT FIRMS?
By Anita Carr
Anita Carr is used to discovering fraudulent activities, even when she is not employed. In 2001 she discovered accounting irregularities at a Fortune 500 where she was a Director in Information Technology. This led to investor lawsuits against that company for accounting fraud and insider trading. At a prior employer she contacted the FBI and worked with them to ensure they investigated Medicare Fraud. The CFO of that company went to prison.
Now, in fighting to determine title on her home, she has discovered something even more slimy and with much broader implications. In an attempt to validate a ‘squiggle’ type mark on a recorded document with the Alameda County Recorder’s office, Ms. Carr felt it imperative that she obtain a copy of the page from the notarial journal from the California notary who performed the notarization of the ‘Corporation Deed of Assignment’ related to her property.
Ms. Carr, under California laws, is entitled to purchase a copy of the page in the notarial journal related to her property and so she wrote to the Orange County Recorder’s office and sent a check to cover the copy fees. Orange County is where the notary was registered. Within weeks she received a certified letter back from the Orange County recorder stating that they should have the notarial journal, but they did not have it. See, once a notary is no longer a notary in California, it is the law that they must turn in their notarial journal to the county recorder.
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Financial Control Fraud
By Jim Macklin
Secure Document Research
When a person or persons who own or oversee the operations of a seemingly legitimate business or Governmental Agency uses that business or agency as a “weapon”, it is known as a control fraud. The term was coined by UMKC Professor William Black (The Best Way To Rob A Bank Is To Own One, Black, 2005). The “weapon of choice” in a financial control fraud is accounting. More losses occur in financial control frauds than any other form of property crimes …combined!
In the early stages of our most recent financial crisis, the FBI had correctly identified the presence of the type of fraud, yet, the Bush administration failed to effect any real consequences, and so the fraud was swept under the rugs of the administrations’ offices. De-regulation and the advent of hyper-bonuses helped to encourage the practices of the ratings agencies, hedge fund managers, and CEO’s of the Wall Street elite, while the AAA rated “junk bonds” went out for sale with a frenzied push for more paper. Never before, in the history of Wall Street, had a AAA rated bond gone into a default. Remember, these ratings agencies hadn’t even bothered to sample the veracity or viability of the loan files upon which these ratings were issued. This is a control fraud in its’ simplest and purest form, with all of the key players indemnified against losses through trust agreements. This is the smoking gun.
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