Hawaii Feds Accuse Three Of Arranging For Fraudulent Financing In Foreclosure Rescue Schemes

In Honolulu, Hawaii, the Honolulu Advertiser reports:

• Another mortgage fraud criminal case has been filed in federal court, this one accusing more people affiliated with Accel Mortgage LLC with conspiracy to commit mail, wire and loan fraud. Charged in the case are Carla Dutro, identified by the U.S. attorney's office as the regional manager of Accel, Maria "Gerlie" Guillermo, Maui branch manager of the company, and Alfred Ulat, a tax return preparer. Accel owner Welton Kalani and Audra Palomares, a loan processor with the company, were charged in an earlier fraud case filed here in April. The government alleges in the new case that Dutro, working with Kalani and others, "facilitated fraudulent real estate transactions involving homes facing foreclosure."

Source: Another mortgage fraud case in court (More people linked to Accel Mortgage face federal charges).

(1) According to the story, Dutro processed loan applications and "submitted materially false supporting documentation to lending institutions," the government charged. Dutro allegedly submitted bank statements on behalf of borrowers "that she had materially altered" to inflate the net worth of the borrowers, the government alleged. Guillermo and Kalani allegedly "structured fraudulent loan transactions" and helped prepare false documents from accountants and tax return preparers, according to the U.S. attorney's office. Ulat allegedly was paid $100 to $150 for submitting "false statements concerning the employment and tax returns of loan applicants."