Long Island mortgage executives charged with warehouse line fraud

Three senior executives at a New York mortgage lender were arrested tuesday morning and charged with misappropriating $9 million from warehouse lines of credit meant to be used to fund mortgages.

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A complaint was unsealed today in federal court in Central Islip, New York, charging Edward E. Bohm, Edward J. Sypher, Jr., and Matthew T. Voss, senior executives at Long Island mortgage lender Vanguard Funding, LLC (Vanguard), with conspiracy to commit wire and bank fraud in connection with their obtaining more than $8.9 million of warehouse loans for Vanguard to fund mortgages.

Three senior executives at a Long Island mortgage lender were arrested for their role in committing a $8.9 million fraud, according to the U.S. Attorney’s Office. Edward E. Bohm, 39, of.

17 Charged in $20M Mortgage Fraud Case. Seventeen people have been rounded up in connection with an alleged $20 million mortgage fraud scheme in Nassau County-the largest in its history-which authorities say ripped off homeowners, banks and county taxpayers.. Long Island Press is a.

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Long Island Mortgage Banker and Five Others Indicted in $30 Million Bank Fraud Conspiracy. Mortgage fraud poses a threat to our financial systems and to our economy.. Long Island EMT Resorts.

Earlier today in federal court in Central Islip, New York, Edward J. Sypher, Jr., and Matthew T. Voss, senior executives at Long Island mortgage lender Vanguard Funding, LLC (Vanguard), pleaded guilty to conspiring to commit wire and bank fraud in connection with their diversion of more than $8.9 million of warehouse loans that Vanguard had obtained to fund mortgages.

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Long Island Mortgage Banker and Five Others Indicted in $30 Million Bank Fraud Conspiracy. Mortgage fraud poses a threat to our financial systems and to our economy.. they lied to the.