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Former Florida Title Attorney Pleads Guilty in Scheme Involving Unrecorded Mortgages and Escrow Funds

Former Florida Title Attorney Pleads Guilty in Scheme Involving Unrecorded Mortgages and Escrow Funds

Former Florida attorney Michael Saracco pleaded guilty to three wire-fraud counts in a real estate scheme prosecutors say involved unrecorded mortgages, inaccurate closing disclosures, diverted payoff funds and false title-insurance representations. Continue Reading Former Florida Title Attorney Pleads Guilty in Scheme Involving Unrecorded Mortgages and Escrow Funds

Ameritrust Alleges 90-Loan Baltimore DSCR Fraud Scheme Caused More Than $14 Million in Losses

Ameritrust Alleges 90-Loan Baltimore DSCR Fraud Scheme Caused More Than $14 Million in Losses

Ameritrust Mortgage alleges a sprawling Baltimore investment-property scheme used roughly 90 DSCR loans, shell companies, inflated valuations and title irregularities to generate more than $14 million in losses. The federal RICO case puts lender controls around investor loans, appraisals and title work under a harsh spotlight. Continue Reading Ameritrust Alleges 90-Loan Baltimore DSCR Fraud Scheme Caused More Than $14 Million in Losses