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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
FBI: Annandale Man, Jose Marinay, Pleads Guilty to More Than $2 Million in Mortgage Fraud
Posted by:
Elliott Ness
()
Date: May 31, 2014 05:56PM
FBI: Annandale Man Pleads Guilty to More Than $2 Million in Mortgage Fraud
Jose Marinay faces up to 20 years in prison when he is sentenced in September.
http://annandale.patch.com/groups/police-and-fire/p/fbi-annandale-man-pleads-guilty-to-more-than-2-million-in-mortgage-fraud
An Annandale man pleaded guilty earlier this week to mortgage fraud, according to a news release from the FBI.
Jose Marinay, 52, of Annandale, pleaded guilty Tuesday to conspiracy to commit wire fraud for his involvement in a short sale mortgage fraud conspiracy, the FBI said.
A federal grand jury indicted Marinay April 15, on multiple charges, including conspiracy to commit wire fraud. He faces up to 20 years in prison when he is sentenced Sept. 26.
According to court documents, Marinay operated a settlement company in Annandale named Virginia Smart Choice Settlements (which is now SCS Title & Escrow).
Here's how the feds described the crime:
"Marinay helped prepare settlement statements that contained false information relating to liens, realtor commissions, title search fees, attorneys’ fees, title insurance, recording fees, and taxes. Marinay caused the settlement statements to be sent to mortgage lenders, and in some instances, he shredded the statements to conceal evidence of the fraudulent transactions."
"According to the statement of facts filed with Marinay’s plea agreement, a co-conspirator used the settlement statements to fraudulently induce mortgage lenders to execute short sales—real estate transactions in which the mortgage lender agrees to accept a price less than the amount owed on the property—on at least seven occasions."
"Immediately after the short sale, the co-conspirator sold the property to a new buyer in violation of representations and agreements made with the short sale mortgage lender. As a result of this scheme, the affected financial institutions suffered losses of over $2 million."
Jose Marinay is on the right.
Attachments:
Jose Marinay faces up to 20 years in prison when he is sentenced in September.
http://annandale.patch.com/groups/police-and-fire/p/fbi-annandale-man-pleads-guilty-to-more-than-2-million-in-mortgage-fraud
An Annandale man pleaded guilty earlier this week to mortgage fraud, according to a news release from the FBI.
Jose Marinay, 52, of Annandale, pleaded guilty Tuesday to conspiracy to commit wire fraud for his involvement in a short sale mortgage fraud conspiracy, the FBI said.
A federal grand jury indicted Marinay April 15, on multiple charges, including conspiracy to commit wire fraud. He faces up to 20 years in prison when he is sentenced Sept. 26.
According to court documents, Marinay operated a settlement company in Annandale named Virginia Smart Choice Settlements (which is now SCS Title & Escrow).
Here's how the feds described the crime:
"Marinay helped prepare settlement statements that contained false information relating to liens, realtor commissions, title search fees, attorneys’ fees, title insurance, recording fees, and taxes. Marinay caused the settlement statements to be sent to mortgage lenders, and in some instances, he shredded the statements to conceal evidence of the fraudulent transactions."
"According to the statement of facts filed with Marinay’s plea agreement, a co-conspirator used the settlement statements to fraudulently induce mortgage lenders to execute short sales—real estate transactions in which the mortgage lender agrees to accept a price less than the amount owed on the property—on at least seven occasions."
"Immediately after the short sale, the co-conspirator sold the property to a new buyer in violation of representations and agreements made with the short sale mortgage lender. As a result of this scheme, the affected financial institutions suffered losses of over $2 million."
Jose Marinay is on the right.
Attachments:
Re: FBI: Annandale Man, Jose Marinay, Pleads Guilty to More Than $2 Million in Mortgage Fraud
Posted by:
Deja Vu?
()
Date: May 31, 2014 08:14PM
Wasn't there a few more people in Annandale caught doing similiar things in the past year or two?