Posts tagged Real Estate Fraud Litigation

• Countrywide, Nation's Largest Mortgage Lender, Sued for Fraud

  Gary Shipman | February 29, 2008 9:05 AM | 0 CommentsWilmington, NC Category: Miscellaneous
  

  Countrywide Financial, the nation's largest mortgage lender, charged borrowers excessive and unreasonable fees to borrowers facing foreclosure, according to a lawsuit filed in Delaware on Monday.The action alleges that Countrywide profitted from the excessive fees in order to compensate for its losses in the subprime loan default crisis. While typical mortgage agreement permit Countrywide to...

• Real Estate Fraud: Pyramid Scheme in Atlanta

  Matt Buckmiller | July 12, 2007 5:20 PM | 0 CommentsWilmington, NC Category: Miscellaneous
  

  Gene A. O'Neal an Atlanta, Georgia real estate promoter pled guilty on Tuesday to two counts of mail and wire fraud. O'Neal stole tens of millions of dollars from investors through a pyramid scheme. A civil complaint filed by the SEC last October is pending against O'Neal and his company, Pinnacle Development Partners LLC. Some of O'Neal's more reprehensible actions included allegedly using...