HUGE MORTGAGE FRAUD RING - Atlanta 2023-2024

Atlanta, Georgia
Private Lending & Conventional Mortgage Advice
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HUGE MORTGAGE FRAUD RING - Atlanta 2023-2024

Jesse LeBlanc
Investor · Atlanta, GA · Member since 2016 · 627 posts · 374 votes

***To ALL my RE friends, lenders, wholesalers, closing attorneys etc (Metro Atlanta so far)***

If you have ANY current or past deals with any of these names, let me know! They might very well be FRAUD!!

I’m not only working on my case with these buyers and a DeKalb Pastor & Chaplain of DeKalb Sherriff Office on over 2.5M...but this now appears to be related to a HUGE Mortgage Fraud Criminal Ring here in Metro Atlanta with quite a few of confirmed fraudulent documents on many properties as more evidence shows up.

Some of the names I have confirmed provided or created fraudulent bank statement, operating agreements and forged QCD docs to obtain mortgages illegally then allow them to foreclose. A couple other names not confirmed I’m still connecting the dots BUT are affiliated or at minimum names on many of these confirmed fraudulent documents but unclear their actual involvement. This includes some local Notary’s who have their name on these forged documents and a LOT of fake operating agreements.

-William Platt - Owner of The Vault & The Bank (Confirmed)
-Byron Ellis Raines (Confirmed)
-Marvin Fox (Confirmed)
-Freddie Jones II (Confirmed)
-Michael Barney
-Wendell Olden (Claims just being used, not part of Fraud and might be one of their "Straw Buyers" for his good Credit)
-DeKalb Notary - Frank Brake III (Confirmed)
-Jeff Deville - Lender Broker with Will Platt and Bryon Ellis (definitely aware, I have directly informed him of the fraud these guys are/have committed yet he still continues to work with them to push loans through, so unsure of his actual role or knowledge or the lack there of with the rest of this mortgage fraud group)


-More names coming...

PLEASE SHARE THIS POST OR TAG ANYONE HANDLING LOANS IN METRO ATLANTA THAT YOU MIGHT NEED TO SAVE FROM THESE GUYS!! You will help to stop lenders and owners from further getting F’d!!!

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1y
Quote from @Drew Sygit:

Managed to steer clear of the fraud in Metro Detroit, but did get interviewed by the FBI once.

When I first started doing BRRR loans for investors in Los Angeles for props in the Detroit market circa 2002 to 2004.. we did quite a few probably 150 or more.. Title companies really had to take a ton of risk since Wayne county was the most dysfunctional county in the entire country at the time.. It took 90 days or so to get confirmation your deed and mortgage had been recorded so you had this huge period of time that the bad actors could step in and pull some really crummy stuff.. I wont describe it as I dont want to give any of the bad folks ideas or how to.. But suffice it to say it was really wild.

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  • Jesse LeBlanc
    OP
    Investor · Atlanta, GA · Member since 2016 · 627 posts · 374 votes
    1y

    @Jay Hinrichs I know you'll see this soon, might as well tag you ;) 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    1y
    Quote from @Jesse LeBlanc:

    @Jay Hinrichs I know you'll see this soon, might as well tag you ;) 


    good work naming names is the only way to protect the public.. these schemes have been going on for years.. And I think I might have mentioned when I had a mortgage fraud scheme come through my HML company a few years back.. I had an interview with FBI agent and he told me its rather rare in the Northwest and that the most prolific are for mortgage fraud was Atlanta Metro followed by Detroit metro.
    Podcast Guest on Show #222
    JLH Capital Partners51 Review
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    1Reply
  • Jesse LeBlanc
    OP
    Investor · Atlanta, GA · Member since 2016 · 627 posts · 374 votes
    1y

    I know you see a LOT of posts @Jay Hinrichs, so give it a few days and I'm sure just like the Justin Nyugen guy we got, more people will feel comfortable coming out of the woodwork bringing up some cases related to these name which will help law enforcement.  I have already discussed with the DA's office and their Anti Corruption Department will be handling it.  I'm sure next it will be in the office of the Fed's as well.  It won't help my case right now, but since it's linked, might as well keep connecting the dots to help out everyone I can.

    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1y

    Managed to steer clear of the fraud in Metro Detroit, but did get interviewed by the FBI once.

    [email protected]248-209-6824
    Logical Property Management4.9458 Reviews
    WebsiteView Page
    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    1y
    Quote from @Drew Sygit:

    Managed to steer clear of the fraud in Metro Detroit, but did get interviewed by the FBI once.

    When I first started doing BRRR loans for investors in Los Angeles for props in the Detroit market circa 2002 to 2004.. we did quite a few probably 150 or more.. Title companies really had to take a ton of risk since Wayne county was the most dysfunctional county in the entire country at the time.. It took 90 days or so to get confirmation your deed and mortgage had been recorded so you had this huge period of time that the bad actors could step in and pull some really crummy stuff.. I wont describe it as I dont want to give any of the bad folks ideas or how to.. But suffice it to say it was really wild.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
  • Jesse LeBlanc
    OP
    Investor · Atlanta, GA · Member since 2016 · 627 posts · 374 votes
    1y

    I can TOTALLY see this happening!  I can't imagine the title claims @Jay Hinrichs  WOWSAS!!

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    1y
    Quote from @Jesse LeBlanc:

    I can TOTALLY see this happening!  I can't imagine the title claims @Jay Hinrichs  WOWSAS!!


    on top of that there were at the time close to 40k vacant homes.. so all sorts of mortgage fraud.. I can tell some stories thats for sure.
    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    1y

    @Jay Hinrichs anything with QCDs and Reverse Mortgages?

    [email protected]248-209-6824
    Logical Property Management4.9458 Reviews
    WebsiteView Page
    1Reply
  • Jesse LeBlanc
    OP
    Investor · Atlanta, GA · Member since 2016 · 627 posts · 374 votes
    1y

    I just had another lender reach out stating they too ALMOST did this deal (months after my issue from March 19th, 2024).  I'm collecting more evidence from this lender and already connecting even more incriminating evidence and adding on more charges to these guys.

    If you or someone you know has EVER worked with any of these names, please reach out to me incase what you have might seriously help out my case and save other lenders, other attorneys, other regular people etc from being screwed.  This will also help law enforcement and the FBI as the case builds...

    1Reply
  • Jesse LeBlanc
    OP
    Investor · Atlanta, GA · Member since 2016 · 627 posts · 374 votes
    1y

    Now we have some additional names, Channel 2 news will be airing the initial part then investigating the rest of the crimes and persons part of the fraud ring.  Recently i've had even more victims reach out, now they're buying vehicles in other peoples business names after stealing their identity.  they usually start with folks they meet and gain their trust or folks that need a legit business loan and then these guys steal the identity and do what they want with other peoples credit, money and business name.  

    They're also now adding stealing EMD and using a NON closing attorney to hold the EMD acting as a closing attorney. They're using a agent/broker from Berkshire Hathaway to bring the fraudsters business.

    2Reply
    • Ken M.
      Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
      1y
      Quote from @Jesse LeBlanc:

      Now we have some additional names, Channel 2 news will be airing the initial part then investigating the rest of the crimes and persons part of the fraud ring.  Recently i've had even more victims reach out, now they're buying vehicles in other peoples business names after stealing their identity.  they usually start with folks they meet and gain their trust or folks that need a legit business loan and then these guys steal the identity and do what they want with other peoples credit, money and business name.  

      They're also now adding stealing EMD and using a NON closing attorney to hold the EMD acting as a closing attorney. They're using a agent/broker from Berkshire Hathaway to bring the fraudsters business.

      Good information!
      1Reply
  • Zach Howard
    Hong Kong · Member since 2024 · 161 posts · 57 votes
    1y
    Quote from @Jesse LeBlanc:

    ***To ALL my RE friends, lenders, wholesalers, closing attorneys etc (Metro Atlanta so far)***

    If you have ANY current or past deals with any of these names, let me know! They might very well be FRAUD!!

    I’m not only working on my case with these buyers and a DeKalb Pastor & Chaplain of DeKalb Sherriff Office on over 2.5M...but this now appears to be related to a HUGE Mortgage Fraud Criminal Ring here in Metro Atlanta with quite a few of confirmed fraudulent documents on many properties as more evidence shows up.

    Some of the names I have confirmed provided or created fraudulent bank statement, operating agreements and forged QCD docs to obtain mortgages illegally then allow them to foreclose. A couple other names not confirmed I’m still connecting the dots BUT are affiliated or at minimum names on many of these confirmed fraudulent documents but unclear their actual involvement. This includes some local Notary’s who have their name on these forged documents and a LOT of fake operating agreements.

    -William Platt - Owner of The Vault & The Bank (Confirmed)
    -Byron Ellis Raines (Confirmed)
    -Marvin Fox (Confirmed)
    -Freddie Jones II (Confirmed)
    -Michael Barney
    -Wendell Olden (Claims just being used, not part of Fraud and might be one of their "Straw Buyers" for his good Credit)
    -DeKalb Notary - Frank Brake III (Confirmed)
    -Jeff Deville - Lender Broker with Will Platt and Bryon Ellis (definitely aware, I have directly informed him of the fraud these guys are/have committed yet he still continues to work with them to push loans through, so unsure of his actual role or knowledge or the lack there of with the rest of this mortgage fraud group)


    -More names coming...

    PLEASE SHARE THIS POST OR TAG ANYONE HANDLING LOANS IN METRO ATLANTA THAT YOU MIGHT NEED TO SAVE FROM THESE GUYS!! You will help to stop lenders and owners from further getting F’d!!!


     How does this mortgage fraud work? What should we look out for? How to protect ourselves? I'm looking to do business in Georgia, so Atlanta is definitely on the radar. Don't want my vesy first deal to be engulfed in fraud somehow. Any additional details and guidance would be greatly appreciated. Thanks. 

    0Reply
  • Jesse LeBlanc
    OP
    Investor · Atlanta, GA · Member since 2016 · 627 posts · 374 votes
    1y

    @Zach Howard
    Look for recent QCD changing hands, then make contact with the original owner to confirm it wasn't forged.  Look for fraudulent bank statements, altered bank statements, missing days on bank statements, sometimes each month of the bank statement will be slightly different.  Operating agreements are usually the same one they always use vs the actual legit owners operating agreement.  Don't let them give you a name or number, do your own research to lookup and call the names of everyone.  Usually the Operating Agreement once changed will show the original owners name as a small % owner and the fraudster's name as 90% or similar.  Look out for Brokers, always brokers involved and they don't like to give you access to the actual owners knowing it's fraud and only let you speak with the fraud brokers.

    SOOOO many more clues but this is already more than enough to share as they continue to fine tune their fraud practices and I still need to be aware of the other pointers without letting them know what I know.  kindof a catch 22

    here is a link to my FB post and shares more info.  If the link doesn't work, go to my FB page and look back at the November 21st 2024 post.

    https://www.facebook.com/share/p/1LuA5sHNtK/

    2Reply
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