Las Vegas Criminal Defense Blog

Last week a 64-year-old Las Vegas man was arrested on suspicion of violating mortgage fraud law in Nevada. He was also indicted on wire fraud, mail fraud and other charges. After pleading not guilty in federal court he was released on his own recognizance.

Mortgage fraud law in Nevada prohibits intentionally trying to defraud a participant in a mortgage lending transaction. Examples are knowingly making a false statement or material representation about a material fact, deliberately concealing or failing to disclose material facts, or knowingly receiving proceeds from a mortgage fraud violation.

A violation of mortgage fraud in Nevada is both a federal and state crime. In state court, it's a category C felony carrying 1 to 10 years in prison. Meanwhile engaging in a "pattern" of mortgage lending fraud is a category B felony carrying 3 to 20 years in prison.

For more on this story go to: http://www.lvrj.com/news/las-vegas-man-arrested-on-fraud-charges-120427324.html

Last month police arrested two men for allegedly committing the Nevada crime of mortgage fraud. They reportedly scammed homeowners by telling them that their Bank of American mortgages were now being served by Great Western Business Services, a sham company they set up. The Attorney General is reviewing how many checks the two men have received from deceived homeowners.

The Nevada crime of mortgage fraud occurs when a person intentionally defrauds a participant in a mortgage lending deal. Typical examples include knowingly making a false statement about a material fact related to a mortgage and receiving money from a mortgage transaction you know was fraudulent. Each act of fraud is a separate crime in Nevada, so one person may be prosecuted for several counts of mortgage fraud for the same property.

The Nevada crime of mortgage fraud is both a state and federal crime. In Nevada, mortgage fraud is a category C felony carrying one to ten years in prison and/or up to $10,000 in fines. And a pattern of engaging in mortgage fraud is penalized more harshly as a category B felony, carrying three to twenty years and/or up to $50,000.

For more on this story go to: http://www.fox5vegas.com/news/26736098/detail.html

Last month a Las Vegas home builder faced indictment in federal court for allegedly selling his houses at inflated prices in order to get kickbacks. He's being charged with conspiracy, bank fraud and wire fraud. The defendant is being prosecuted as part of the national initiative Operation Stolen Dream to help curb mortgage fraud.

Mortgage fraud is both a federal and state crime. The Nevada crime of mortgage fraud occurs when a person with intent to defraud knowingly makes a false statement or misrepresentation concerning a material fact or deliberately conceals or fails to disclose a material fact. Because it's an intent crime, a person may not be convicted of it if they didn't deliberately defraud.

Similar to federal law, the Nevada crime of mortgage fraud carries very stiff penalties. The typical sentence for committing the Nevada crime of mortgage fraud, a category C felony, is one to ten years in prison and/or up to $10,000 in fines. However, it's punished as a category B felony if the defendant was found to have engaged in a pattern of mortgage fraud lending, and the punishment is upped to three to twenty years in prison and/or up to $50,000 in fines.

For more on this story, go to: http://www.lvrj.com/news/las-vegas-home-builder-indicted-in-mortgage-fraud-case-99512319.html