Greenwood man facing 19 charges in $14 million fraud case
Prosecutors say Daniel R. Fruits, 46, defrauded his former employer out of millions of dollars that he spent on real estate, cars, Rolex watches, escort services and other items.
Mortgage Fraud
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Justices side with Labor Department in overtime pay dispute
The U.S. Supreme Court has sided with the Obama administration in upholding a rule making mortgage brokers eligible for overtime pay under federal labor law.
U.S. sues Bank of America for $1B-plus in mortgage fraud
The top federal prosecutor in Manhattan sued Bank of America for more than $1 billion on Wednesday for mortgage fraud against Fannie Mae and Freddie Mac during the years around the financial crisis.
Zionsville real estate schemer sentenced to 30 months
A Zionsville man who pushed real-estate investing schemes has been sentenced to 30 months in prison after pleading guilty to wire fraud and money laundering.
Suit accuses Bank of America of fraud, racketeering
The complaint, filed in Marion Superior Court, follows a similar suit that was dismissed in federal court. Bank of America and its Countrywide unit are accused of using perjured affidavits to foreclose on homes.
Home Loan Bank sues over losses on $3B mortgage portfolio
The Federal Home Loan Bank of Indianapolis is suing some of the nation’s largest financial institutions to recover losses on a $3 billion portfolio of mortgage-backed securities.
Ex-Indiana University player Leary pleads guilty in fraud
Todd Leary of Carmel pleaded guilty in court Thursday to a felony charge of misappropriating title insurance escrow funds.
His agreement with prosecutors calls for him to face up to three years in prison, with that cut in half if he pays nearly
$295,000 in restitution.
Fraud scheme nets Indianapolis man 15 years in Texas
Louis Simpson bilked investors of $948,500 by claiming to operate a program with the Department of Housing and Urban Development.
Four charged with income tax fraud
A business owner and three people allegedly involved in a large mortgage fraud scheme face prison sentences for failing to
report income or file certain tax forms.
Two more sentenced in mortgage fraud scheme
Federal prosecutors say the men were part of a scheme in which straw deals were set up to obtain inflated mortgages on more
than 100 Indianapolis houses.
Ex-investor sentenced in Indiana mortgage fraud
Robert A. Penn, 44, of Naples, Fla., received seven years in prison and was ordered to pay more than $11 million in restitution.
Local man gets 37 months in mortgage-fraud scheme
A federal judge has ordered an Indianapolis man to serve 37 months in prison and pay $1.7 million in restitution for his role in a massive mortgage fraud scheme.
SPECIAL REPORT: Charter Homes draws scrutiny for odd sales claims, multiple liens
Charter Homes owner Jerry Jaquess fancies himself a white knight for King Park, a neighborhood once known mainly for its rampant
crime, boarded-up homes and vacant lots. But as he’s constructed a slew of homes and carriage houses there, the local
builder has stirred up several lawsuits, dozens of liens and persistent questions about whether his business is legit.
Noblesville man sentenced for mortgage fraud
A Noblesville man was sentenced to one year of home detention yesterday after pleading guilty to mortgage fraud in federal
court. Marvin G. Hampton also was ordered to pay $262,424.76 in restitution to three lending institutions.
Lenders foreclose on at least 20 properties in mortgage scheme
Charter Homes recruited and paid buyers to take out inflated mortgages on dozens of central Indiana homes it built, promising to manage the properties as rentals and make payments for the owners, current and former Charter business partners say.
Regulators seek mortgage reforms
State regulators want more firepower to fight mortgage crimes. But a month before the General Assembly convenes, real estate
interests are uneasy, fearing lawmakers may go overboard.