FBI Suspects Front Running of Fannie, Freddie In Swaps Market

Richard Leong, Reuters Wall Street traders may be manipulating a key derivatives market and front running Fannie Mae and Freddie Mac, hurting the US-owned mortgage giants in the process, according to an FBI intelligence bulletin reviewed by Reuters. Using what Federal Bureau of Investigation agents described as “unsophisticated tradecraft,” such as hand signals and special telephone ring tones, […]

FBI Offers Reward For Mortgage Fraudster Ronnie Duke

Mortgage Fraudster Ronnie Duke Never Reported To Prison Six Months Ago   The FBI is offering a $5000 reward for information leading to the arrest of former Michigan mortgage fraudster Ronnie Duke.  Duke a habitual criminal who rose to become the kingpin of a multi-million dollar mortgage fraud operation had failed to report to federal prison […]

New Jersey Man Sentenced To Six Years In Prison For Loan Fraud

PHILADELPHIA – Robert Coyle, Sr., 68, of Glassboro, New Jersey, was sentenced today to 72 months in prison for a loan fraud scheme that attempted to swindle more than $10 million from three banks.  He pleaded guilty to two counts of loan fraud on October 1, 2012. Coyle owned and/or rented more than 300 properties in […]

Dethroned Boy Kingpin Of Detroit Strip Clubs Arrested For Mortgage Fraud

DOJ Says Dethroned Boy Kingpin Of Detroit Strip Clubs Committed Fraud Attorneys for the U.S. Attorney’s Office allege Bilal Haidar now 27,  lied about having a job and bank account on a mortgage application for nearly $742,000. The FBI says  Haidar lied on the mortgage application in 2006 for the house he wanted to purchase the Detroit […]

Feds Descend On JPMorgan Like Flies On Fresh Cow Pies

Jessica Silver-Greenberg and Ben Protess, NY Times As the nation’s strongest bank, JPMorgan Chase used to be known for carrying special sway with regulators. Now it increasingly finds itself in the cross hairs of federal authorities. At least two board members are worried about the mounting problems, and some top executives fear that the bank’s relationships in […]

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