7 indicted in Denver area foreclosure and mortgage fraud allegations

In the following press release Mitchell R. Morrissey, the Denver District Attorney announced that a Denver Grand Jury has indicted seven men in connection with a mortgage fraud scheme. The indictment, which was handed down January 4, 2010, was sealed until the defendant were taken into custody,http://www.saintsman.com/Jimmy_Graham_Jersey_CACB924.

Scott Steven Richardson (dob: 04-27-73), Thomas Sarantinos (dob:11-08-86), Douglas Lynn Dean (dob: 03-27-59), Michael Spahn (dob: 07-02-67), Wayne Jones (dob: 09-09-63 ), Gary Luna (dob: 01-10-84), and Jason Webb (03-01-88) are charged with violation of Colorado Organized Crime Control Act (COCCA) (F2), theft (F4), forgery (F5), conspiracy to commit theft (F4), and conspiracy to commit forgery (F4).

Jason Lawrence Lynn owned or controlled Superior Financial Group, LLC. The principal street address of Superior was 525 S. Snowmass Circle, Superior, CO 80027.

Jason Jay Gallob owned or controlled Metro Mortgage Banking, Inc. The principal street address of Metro was 2509 E. 147th Ave., Brighton, CO 80602.

Jay Donovan Jost (Jost) was a real estate investor who owned or controlled Broomfield Lending, LLC, MI-T Investments, LLC, Y-ZER Investments, LLC,http://www.saintsman.com/Drew_Brees_Jersey_CACB358.

Douglas Lynn Dean was employed as a loan officer by Absolute.

Gary Luna (Luna) was employed as a loan officer by Absolute.

Jason Randall Webb was a notary public commissioned by the State of Colorado.

Sharon King was the mother-in-law of Michael Spahn and a Notary Public.

Candice Bannias (Bannias) worked as a Closing Agent and was a Notary Public. Ms. Bannias was previously married to Jason Webb and they have two children together.

Jost was a real estate investor who specialized in purchasing houses in danger of, or in, foreclosure. After making these purchases, he contacted Spahn to assist him in finding buyers for the properties. These homes were often presented to potential buyers as an opportunity to buy investment property.

Spahn would then contact Sarantinos and Richardson at Absolute for assistance in finding buyers or Spahn would appraise many of these properties, through MJ Appraisals, at a value well above their actual value. This allowed the investor to take out a mortgage loan above the home actual value. When the houses were sold,Vincent Jackson Jersey, Jost would pay Spahn from the proceeds, and Spahn would pay Richardson and Sarantinos. Between January 6, 2005 and July 2, 2007 Jay Jost issued 66 checks totaling $2,606,027.83 to Spahn for proceeds from the sale of houses. Between March 14,Matt Ryan Jersey, 2006 and November 9, 2007 Spahn issued 15 checks totaling $300,148.00 to Richardson and/or Absolute for proceeds from the sale of houses,Scarpe Hogan. End]

The charges allege that the defendants, using phony documents and information, stole hundreds of thousands of dollars by repeatedly purchasing homes in foreclosure without any intention of paying the mortgages. He has been released on a $100,000 bond in this new case. for arraignment.Read More：

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