Loan Fraud - Integrated Loans

More Charges for Anthony Garvin of Jersey City in Mortgage Fraud Scheme

In the years leading up to the 2008 financial crisis, there was a growing segment of the real estate investors that focused solely on undervalued properties. This style of investing is best summed up in the phrase, “Buy the worst house in the best neighborhood.” The investors then would renovate the home, or flip the house, and sell the property for a profit.

Anthony Garvin, a 49-year-old from Jersey City, used the idea of flipping houses to supposedly generate a multimillion-dollar mortgage fraud scheme. Anthony Garvin was charged last Tuesday. He was arrest with suspected co-conspirator Christopher Goodson from Newark.

Garvin was charged with 1 count of Bank Fraud conspiracy and 5 counts of Bank Fraud. Garvin was first charged back on November 17,

Mortgage Scam Probe Sees Popular U.S. Landlord Facing Charges In Ponzi Scheme

The Security and Exchange Commission and the Department of Justice charged Robert Morgan for purportedly operating a Ponzi scheme that shuffled money from investors and faking loan documents.

Morgan is estimated to have 140 properties across 14 states. On Wednesday, he was charged for criminal activities by the DOJ for bank fraud, insurance fraud, and wire fraud, and the SEC also charged him with civil fraud for misusing and siphoning investor finances.

These charges stem from a cross-agency investigation effort and were found in August when the fraud allegation that involved loans were looked into – with over $1.5 million in mortgage securities issued by Freddie Mac and Fannie Mae.

This resulted in the indictment of four suspects, including Morgan, who conspired over a period of 10 years to acquire