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Federal agents arrested Chicago resident Tomas Leiskunas, a Lithuanian national who also goes by the name of Elidijus Pocevicius, Friday in connection with a $3.7 million mortgage fraud scheme involving properties in Elmhurst, North Aurora and Palatine.
Leiskunas was charged with violation of the Federal Wire Fraud statute, a felony that carries a sentence of up to 30 years in prison. According to the complaint, the 28-year-old falsified information related to his employment, income and liabilities in order to obtain mortgages. From early September 2006 to early November the same year, Washington Mutual, WMC Mortgage, 21st Century Mortgage, Peoples Choice Home Loan, Aegis Mortgage and Wilmington Finance loaned Leiskunas between $580,000 and $732,000 each for the purchase of properties at 164, 183 and 160 Mayo Court in Elmhurst; 2041 and 2049 Westover Road in North Aurora and 702 N. Morrison Ave., Palatine. All of the loans went into default.
According to a written statement from the Federal Bureau of Investigation, the lenders financed each purchase with a primary loan for 80 percent of the purchase price and a secondary loan for the remaining 20 percent.
"We've had several other mortgage fraud cases charged this year," said Ross Rice, special agent and spokesman for the Chicago FBI.
Thirty defendants were indicted in February in a mortgage fraud case. In June, 40 people were indicted on a charge of participating in a mortgage fraud ring.
Federal agents arrested Chicago resident Tomas Leiskunas, a Lithuanian national who also goes by the name of Elidijus Pocevicius, Friday in connection with a $3.7 million mortgage fraud scheme involving properties in Elmhurst, North Aurora and Palatine.
Leiskunas was charged with violation of the Federal Wire Fraud statute, a felony that carries a sentence of up to 30 years in prison. According to the complaint, the 28-year-old falsified information related to his employment, income and liabilities in order to obtain mortgages. From early September 2006 to early November the same year, Washington Mutual, WMC Mortgage, 21st Century Mortgage, Peoples Choice Home Loan, Aegis Mortgage and Wilmington Finance loaned Leiskunas between $580,000 and $732,000 each for the purchase of properties at 164, 183 and 160 Mayo Court in Elmhurst; 2041 and 2049 Westover Road in North Aurora and 702 N. Morrison Ave., Palatine. All of the loans went into default.
According to a written statement from the Federal Bureau of Investigation, the lenders financed each purchase with a primary loan for 80 percent of the purchase price and a secondary loan for the remaining 20 percent.
"We've had several other mortgage fraud cases charged this year," said Ross Rice, special agent and spokesman for the Chicago FBI.
Thirty defendants were indicted in February in a mortgage fraud case. In June, 40 people were indicted on a charge of participating in a mortgage fraud ring.
Location: Oklahoma(formerly SoCalif) Originally Mich,
13,387 posts, read 19,436,175 times
Reputation: 4611
It's just the beginning. This bailout will cause a domino effect. This will uncover alot of Real Estate fraud. It just may cause Co-Conspirators to turn on each other.
It's just the beginning. This bailout will cause a domino effect. This will uncover alot of Real Estate fraud. It just may cause Co-Conspirators to turn on each other.
Here's hoping that they all turn on one another and the truth prevails.
Here's hoping that they all turn on one another and the truth prevails.
Agreed. Perhaps this will be the final nail in the illegal immigration coffin. People are so outraged over this entire bailout and mortgage fiasco; the illegal alien factor will open even more eyes to their menacing presence.
Agreed. Perhaps this will be the final nail in the illegal immigration coffin. People are so outraged over this entire bailout and mortgage fiasco; the illegal alien factor will open even more eyes to their menacing presence.
I know I am sick of reading and posting about their horrific criminal activity. They have commited more crimes in less than a decade than every American in the history of this country combined. The sexully explicit crimes they commit are just totally, unequivocally some of the most disgusting, subzero deviant stories I have ever read.
I know I am sick of reading and posting about their horrific criminal activity. They have commited more crimes in less than a decade than every American in the history of this country combined. The sexully explicit crimes they commit are just totally, unequivocally some of the most disgusting, subzero deviant stories I have ever read.
It is indeed nauseating. I so look forward to our country returning to the pre-illegal days.
It is indeed nauseating. I so look forward to our country returning to the pre-illegal days.
So am I. In the midst of whatever immigration reform they propose, we must demand that they abolish the 14th Amendment. Abuse of it is one of the biggest frauds being perpetrated in the history of the free world.
I just watched 20/20 and "Night Line". They're trying to focus the blame directly on the buyers and away from the lenders.
That's interesting.
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