home mortgage fraud newsletter full stories advertise mortgage industry newsletter RSS about us
HOT Topics Fraud Resources Fraud Prevention Mortgage Litigation News Appraisal News

Sign Up for Free Mortgage Fraud Newsletter

twitter linkedin
facebook google+
Mortgage News

Search mortgage fraud news by keyword.

Mortgage Fraud News
News, analysis and statistics about mortgage fraud.

Local Mortgage Fraud
Stories about individual mortgage crime cases.

Mortgage Fraud Statistics
Statics by year about real estate fraud.

Mortgage Fraud Index
Quarterly index based on case activity.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage Fraud Feedget RSS code
The latest case activity tracked by FraudBlogger.com for your Web site or for your RSS reader.

Mortgage Fraud Archives
Archive of FraudBlogger.com entries going back to 2005.



2 Years in Prison for Fraud

Gregory A. White, United States Attorney,
Northern District of Ohio

OHIO -- (May 25, 2006) Gregory A. White, United States Attorney for the Northern District of Ohio, announced that Holly R. Coleman was sentenced on May 22, 2006, to 24 months imprisonment, followed by three years of supervised release based on her guilty pleas to a three-count information charging her with aiding and assisting the preparation of false income tax returns for clients of her former tax business, making false claims for income tax refunds in her own name, and mail fraud involving a fraudulent mortgage loan application. Coleman was sentenced by U. S. District Judge Lesley Wells, who also ordered Coleman to pay restitution of $3,896 to the Internal Revenue Service and $17,453.89 to National City Home Loan Services, Inc. Coleman was ordered to self-report to prison and remains on bond. According to court records, Coleman resides at 6805 Mayfield Road, Mayfield Heights, Ohio.

Coleman pleaded guilty to the charges on February 21, 2006, pursuant to a written plea agreement, in which she admitted to the criminal conduct described below. According to the plea agreement, during times relevant to the charges, Coleman was self-employed as an accountant and tax return preparer, doing business as The Coleman Company and/or Tax Specialists.

As charged in Count 1, from approximately January 1, 2001, through April 15, 2002, Coleman prepared 56 federal income tax returns for 41 tax clients, containing false claims for tax refunds based on falsely claimed income tax credits and, in some instances, false deductions. On each charged return, Coleman fabricated a false claim for an education tax credit based on purported educational expenses which the client had not incurred. She also placed other false credits or deductions on certain of the returns. In aggregate, the returns contained false tax credits totaling $77,149 and false deductions totaling $21,532.

As charged in Count 2, Coleman made false claims for tax refunds by filing her own personal income tax returns for the years 2000 and 2001 which contained fictitious W-2 forms reporting fictitious wages and income tax withholdings on which she based the refund claims.

As charged in Count 3, Coleman induced two other persons (referred to as "Relative" and "Friend"), to act as nominees on her behalf to purchase and obtain mortgage financing for a property in South Euclid, Ohio, where Coleman intended to reside as her personal residence. Coleman induced Relative and Friend to prepare and submit a joint loan application to First Franklin Financial Corporation (now National City Home Loan Services, Inc.), knowing that the application documents contained false representations that Relative and Friend would occupy the premises as their principal residence, and that Friend had monthly income of approximately $801 from "Tax Specialists & The Coleman Co." Coleman prepared and provided false and fictitious documents which were presented to First Franklin as part of the loan application, including a fictitious W-2 form and fictitious letters from the applicants' purported landlords.

The government's case was prosecuted by Assistant United States Attorney John M. Siegel, following an investigation by the Internal Revenue Service, Criminal Investigation Division, Cleveland, Ohio.

SOURCE: U.S. Department of Justice

Mortgage Fraud Litigation

Q4-2012 | Q3-2012
Q2-2012 | Q1-2012

Q4-2011 | Q3-2011
Q2-2011 | Q1-2011

Q4-2010 | Q3-2010
Q2-2010 | Q1-2010

Q4-2009 | Q3-2009
Q2-2009 | Q1-2009

Q4-2008 | Q3-2008
Q2-2008 | Q1-2008

full-year 2007
Red Flags Rule
News about the Fair and Accurate Credit Transaction Act.
Analysis of Fraud Enforcement and Recovery Act
The Mortgage Graveyard
Reverse Mortgage Blog
Mortgage Compliance Newsletter
Free compliance newsletter from MortgageDaily.com.

Copyright © 2014 MortgageDaily.com
MortgageDaily.com Subscribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

pricing engine directory

wholesale lender directory

More Mortgage News Resources (MortgageDaily.com full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

free mortgage news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan officer compensation rule

loan originator compensation rule


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

sales blog

reverse mortgage news

secondary marketing

servicing news

subprime news

wholesale lenders

wireless mortgage news