September 18, 2017
- A mortgage holder of a Palm Beach hotel in Florida, filed a claim against a local Florida attorney for securities fraud surrounding an EB-5 visa program. The attorney claims the mortgage holder failed to state a claim upon which relief can be granted. The dispute involves approximately $50 million.
- New Jersey will not allow their residents to be defrauded by anyone. A New Jersey attorney received an eight year sentence. A New Jersey court found her guilty for participating in the “fraudulent filing of mortgages worth $873,520” regarding two distinct properties.
- A mortgage broker duo and their CEO defrauded the government due to their role in filing fraudulent insurance claims. The trio invested in risky loans that did not pan out. Their original verdict amounted to $93 million; however, the Court increased the penalty to $298 million.