Three fraudsters found guilty in an $18 million real estate securities fraud. Mark Alan Shapiro, 60, Glastonbury, Connecticut, Irving Stitsky, 55, Bayside, New York, and William B. Foster, 69, Easthampton, Massachusetts were the accused sentenced after the three-week jury trial before the United States District Judge Kimba M. Wood.

The offenders were found guilty of securities fraud, wire fraud, mail fraud and conspiracy charges after they stole more than $18 million from over 150 investors by promising that the collected funds will be used for the acquirement and improvement of the multifamily real estate properties across the United States.

In order to carry out their scheme, Shapiro, Stitsky, and Foster established a…

Phoenix, Arizona – Brandon Azadegan, 29, was sentenced to 18 months in prison for an April 2009 conviction for being an investor selling four homes to a straw buyer. Azadegan pleaded guilty to one count of Consipiracy to Commit Wire Fraud and one count of Transactional Money Laundering.

His six other accomplices have also pleaded guilty for their participation in the scheme. In August 2009, Gheorge Babeti was sentenced to 14 months in federal prison. The remaining defendants will be sentenced in the coming months.

Babeti – a straw buyer who submitted loan applications to lenders that contains false information - bought four homes from Azadegan. Aside from the four homes Babeti…

A licensed lawyer in Texas and Florida and a licensed mortgage broker has been sentenced to prison for conspiring to commit mail and securities fraud occurring in the promotion and marketing of the Premiere 72 or “P72”.

Ted Russell Schwartz Murray, 58, received 240 months in federal prison without parole for committing mail and securities fraud with regards to the operation of Money Mortgage Corporation of America – a subsidiary of Premiere Holdings LP – a real estate investment program as well as making untrue statement on tax returns for the years of 1999 and 2000.

Murray was charged by a grand jury in August 2006 along with David Isaac Lapin and…

The Old Johnson house has been invaded by party people. No one has been living there since the bank took over the property but 500 cars were parked within the vicinity for the shindig inside that runs all night.

With the overabundance of empty houses across the country, young entrepreneurs are “borrowing” them for an evening and hosting massive parties with healthy cover charges.

Real estate agents might have given them way in to these properties.

Same incident happened in San Diego County.

According to Detective Jeff Lauhon – San Diego County Sheriff’s Officer, young people took over foreclosed houses to host parties. He also added that offenders were well-organized in some instances.

He even…