The battle against mortgage fraud is not new and neither are the ways alleged schemers try to beat the system to pad their wallets. But the Feds are going after these people with renewed vigor.
Hakeem Rashid is a mortgage loan originator who worked for two companies, including Regent Mortgage Funding on 87th Street just off the Dan Ryan Expressway. He was one of four people recently indicted for allegedly taking part in a $16 million lending scheme.
According the federal indictment, between 2005 and 2008, Rashid and his three co-conspirators falsified mortgage loan documents concerning the income, employment and financial qualifications of people they helped obtain loans.
Rashid helped recruit people to purchase a total of 35 properties in or around Chicago, paying them to buy those properties knowing that those people would have to be fraudulently qualified in order to get the mortgage loans.
By processing these loans, they received payments from the banks; their fees for bringing in the business. They also bought some of the properties themselves, or refinanced the loans, again getting paid.
Hakeem Rashid's last known address was in Miami, but he also had significant connections to business associates and others here in the Chicago area. The FBI is asking for the public's help in locating Rashid's current whereabouts.
Friday, May 24 2013 7:57 PM EDT2013-05-24 23:57:51 GMT
The FBI is calling this individual the Brown Bag Bandit because in all his robberies he entered banks and handed the tellers notes written on brown lunch bags.
The FBI is calling this individual the Brown Bag Bandit because in all his robberies he entered banks and handed the tellers notes written on brown lunch bags.
Friday, April 12 2013 10:57 PM EDT2013-04-13 02:57:15 GMT
However one individual, 29-year-old Kenneth Blackman disappeared before the takedown took place. As a result, the FBI is engaged in a manhunt to track and apprehend Blackman.
However one individual, 29-year-old Kenneth Blackman disappeared before the takedown took place. As a result, the FBI is engaged in a manhunt to track and apprehend Blackman.
Friday, April 5 2013 3:56 PM EDT2013-04-05 19:56:00 GMT
There's a saying that it's better to give than to receive, but the FBI says businessman Ahmed Fa Albalwneh, 44, turned that mantra upside down to make his company all about the taking.
There's a saying that it's better to give than to receive, but the FBI says businessman Ahmed Fa Albalwneh, 44, turned that mantra upside down to make his company all about the taking.
Friday, March 29 2013 3:53 PM EDT2013-03-29 19:53:58 GMT
The first robbery happened at the Chase bank on Front Street near Wolf Road in Mokena on February 21st. Five days later he held up another bank, this time the First Midwest Bank on 80th Avenue.
The first robbery happened at the Chase bank on Front Street near Wolf Road in Mokena on February 21st. Five days later he held up another bank, this time the First Midwest Bank on 80th Avenue at 167th in Tinley Park.
