joe cole ipm reality
Posted in the Robbinsdale Forum
#1 May 13, 2008
WHERE IS JOE COLE ? HAS ANYONE SEEN OR HEARD FROM HIM ? THERE IS 55 MILLION MISSING AND HE IS THE PERSON THAT KNOWS WHERE OUR MONEY IS. PLEASE RELPY WITH UPDATES ON IPM.
#2 May 14, 2008
yes we need to keep looking at all involved with him and his many llc's. they are not that intelligent and will get caught
#3 May 20, 2008
you know they are ripping off someone somewhere that is his style.
#4 May 2, 2011
ther is a connection to cole wallin and st. louis on it !
Wayzata Fund Mgr. Allegedly Ran Major Fraud Scheme
Investors filed a suit accusing Gary Vibbard of selling unregistered securities through his company based on exaggerated claims; they want to recover the $3 million they invested.
Eight trusts have sued a Wayzata fund manager, accusing him of operating a multimillion-dollar fraud scheme.
Through his company, R Capital Advisors, Gary Vibbard allegedly sold unregistered securities based on exaggerated claims.
#5 May 23, 2011
2 Real Estate Professionals Plead Guilty in $4.2M Scheme
My Dinh Lam and Ashley Elizabeth Prasil each pleaded guilty to a single count of conspiracy to commit wire fraud in conjunction a scheme to defraud mortgage lenders through the marketing of Cloud 9 Sky Flats developmenta Minnetonka condo project of bankrupt St. Paul developer Jerry Trooien.
Two former real estate professionals pleaded guilty on Thursday to a single count of conspiracy to commit wire fraud in connection with their roles in defrauding mortgage lenders out of $4.2 million, according to the U.S. Attorneys Office in Minnesota.
My Dinh Lam, 30, of Minneapolis and Ashley Elizabeth Prasil, 27, of Eden Prairie were charged on April 21along with 45-year-old Sheri Lynn Delich, 45, of Apple Valley.
Delichwho faces one count of conspiracy to commit wire fraud and one count of money launderinghas not yet entered a plea but was charged via information like Lam and Prasil. When a party is charged by information, rather than an indictment, it generally indicates that a plea agreement is expected.
Between December 2006 and December 2007, the three allegedly conspired to defraud mortgage lenders in conjunction with the marketing of the Cloud 9 Sky Flats developmenta Minnetonka condo project of bankrupt St. Paul developer Jerry Trooien.
Trooienwho owns St. Paul real estate company JLT Group, Inc.filed for Chapter 11 bankruptcy protection in October. In February, the Federal Bureau of Investigation and the Internal Revenue Service searched Trooien's St. Paul offices in an attempt to find evidence relating to an alleged fraud scheme.
Delich, Lam, and Prasil allegedly found buyers to apply for mortgage loans to purchase units in the Cloud 9 development. The loan applications exaggerated the purchase price of the units, and each buyer knowingly received a kickback of approximately 30 percent of the reported purchase price of each unit after the inflated loans were approved. The forms submitted to lenders didnt disclose the kickback payments, which were allegedly distributed to buyers through an account controlled by Delich and funded with loan proceeds.
After Delich received the inflated loan payments, she allegedly kept a percentage for herself and unnamed others and then delivered the remainder to the appropriate buyer. She didnt disclose the payments to the lenders, the Minnesota U.S. Attorneys Office said.
More than 40 Cloud 9 units were allegedly sold through the scheme, and more than 80 percent of the loans have since defaulted. More than $4.2 million was transferred to accounts believed to be controlled by Delich, who allegedly accepted a wire transfer of $120,123 in fraud proceeds.
The defendants each face a potential maximum penalty of five years in prison, with the exception of Delich, who faces a 25-year maximum. All sentences will be determined at a later date by a federal district court judge.
#6 May 27, 2011
missing child support payments, wonder how the tax payers of minnesota feel about having to support four children food medical social services, lets ask the courts to look deeper into this persons history, you will not like what is out there.
#7 Jun 1, 2011
always checkin up on you -
An Eden Prairie man has pleaded guilty to a $7 million insurance scam in which he submitted false claims for his business.
Travis Magdalena Scott, 34, pleaded guilty in federal court Tuesday to one count of wire fraud and one count of money laundering, according to the U.S. Attorneys Office.
He faces up to 20 years in prison for wire fraud and another 10 years for money laundering. A sentencing date has not been set.
Scott was charged April 20 with defrauding Zurich North America by submitting false insurance claims for his business, Security Management Technologies.
Prosecutors said Scott reported lightning damage to supercomputers at his business in June 2008 and kept about $9.5 million meant for equipment replacement from the insurance company. He also kept $1.9 million for business interruption coverage that was based on a falsified tax return, according to the charges.
Criminal investigators from the Internal Revenue Service seized three aircraft, a boat, three vehicles and more than $5 million from bank accounts.
Read more: MN man pleads guilty to $7M insurance scam | Minneapolis / St. Paul Business Journal
#8 Jun 15, 2011
this is what they have to look forward too. wallin cole
Plymouth Broker 3rd Man Charged in $190M Ponzi Scheme
Christopher Pettengill faces up to 20 years in prison on three separate charges related to a fraudulent foreign currency investment program that he sold to investors.
A Plymouth man was charged Monday with securities fraud, conspiracy to commit wire fraud, and money laundering in connection with Trevor Cooks $190 million Ponzi scheme.
Between February and September of 2008, securities broker Christopher Pettengill is alleged to have knowingly concealed information from investors as he and Cook sold a fraudulent foreign currency investment program and secured millions of dollars in investment assets, according to the U.S. Attorneys Office in Minnesota. Pettengill allegedly used his position as a licensed broker to lend credibility to the program, and he assured investors that the investments involved little or no risk.
On September 3, 2008, 54-year-old Pettengill allegedly made a credit-card payment of $11,369.19, which was derived from the proceeds of the securities fraud.
Pettengill was charged by information, rather than an indictment, which generally indicates that a plea agreement is expected.
Cook pleaded guilty last April and in August received the maximum allowable sentence of 25 years for running the Ponzi scheme, which defrauded more than 1,000 investors. Then in March, co-defendant Jon Jason Greco was charged with two counts of making false statements to federal agents in relation to the case.
If Pettengill is convicted, he will face a potential maximum penalty of 20 years in prison10 years for the money laundering charge, five years for the securities fraud charge, and five years for the conspiracy to commit wire fraud charge.
#9 Jun 23, 2011
us postal inspections - fbi - irs criminal all have documents in review
#10 Jul 26, 2011
more associations ipm dmw
#11 Aug 4, 2011
MN Firm Accused of Scamming 200 Homeowners
The Minnesota Department of Commerce alleges that Modify My Loan US began operations in Minnesota without a license, used false advertising, didnt disclose its poor financial condition to customers, charged fees for services that werent actually provided, and failed to issue promised refunds.
The Minnesota Department of Commerce on Thursday said that it has charged an Eden Prairie-based company and its owners with defrauding roughly 200 homeowners of about $362,000.
Modify My Loan US, LLC,(MML) is the latest firm to be accused of defrauding Minnesota homeowners through a mortgage modification scam. Several other companies have recently been accused of similar scams; for example, the Commerce Department in March charged a Michigan company for allegedly defrauding 118 Minnesota homeowners of nearly $290,000.
According to the charges against MML, the company began operations in Minnesota without a license, used false advertising, didnt disclose its poor financial condition to customers, charged fees for services that werent actually provided, and failed to make promised refunds.
The company is accused of charging advance fees of between $2,000 and $2,950 for loan modification services despite the fact that the companys contracts didnt denote that those fees would be charged.
One homeowner allegedly paid an upfront fee of $2,750 and was then given a version of her initial contract in which a previously promised refund had been removed, the Commerce Department said. And although loan modification services weren't performed, she didnt get her money back.
A pre-hearing conference on the case will be held in October. The phone number listed on MMLs Web site was not in service on Thursday morning.
Companies and individuals like these think they can line their pockets with hard-earned money from consumers struggling to stay afloat, Commerce Commissioner Mike Rothman said in a statement.Not on my watch. Were going to put a stop to it.
#12 Sep 6, 2011
Local Brothers Get 5 Years for $4M Mortgage Scheme
The Bork brothers allegedly orchestrated a $4 million mortgage fraud scheme that defrauded 24 area lenders.
Baretta Dean Bork, a 35-year-old man from Mound, was sentenced on Thursday to five years in prison for orchestrating a $4 million mortgage fraud scheme together with his brother, Xavier Willis Bork, Minnesotas U.S. Attorneys office said.
Xavier, a 32-year-old Eden Prairie resident, received the same sentence last week. Each of the brothers was sentenced on one count of conspiracy to commit mortgage fraud through the use of wires and income tax refund fraud. The scheme defrauded 24 area lenders, according to the U.S. Attorneys office.
The brothers were charged on January 31, and they both pleaded guilty on March 9.
The Borks worked as loan officers through several mortgage brokerage companies located primarily in the Mankato area. According to the U.S. Attorneys office, the brothers admitted that between December 2003 and March 2008, they engaged in a scheme by recruiting straw buyers to purchase 33 properties and completing false mortgage loan applications on behalf of those buyers.
To prompt lenders to grant loans to the straw buyers, the Borks allegedly exaggerated income figures and lied about the employment status of those straw buyers. They also omitted information about other loan obligations the buyers had already incurred.
In addition, the Borks admitted to recruiting 26 people to file false income tax returns, claiming refunds totaling more than $154,000. They provided those filers with false W-2 forms that indicated that they worked for the Borks.
#13 Sep 16, 2011
sounds like joseph anthony cole
Bixby Associates Guilty Plea Implicates Co. Officer
Dennis DeSender admitted to fraudulently soliciting investors to fund a venture to sell coal-gasification technology to Chinaand he reportedly implicated a former officer of Bixby Energy Systems in the alleged $60 million scheme.
A former acting chief financial officer of Ramsey-based Bixby Energy Systems, Inc., pleaded guilty on Wednesday to one count of securities fraud, Minnesotas U.S. attorneys office announced.
And in his plea agreement, Dennis DeSender reportedly implicated an unidentified former officer of the company in the $60 million securities fraud scheme, through which he fraudulently solicited investors to fund a venture to sell coal-gasification technology to China.
#14 Nov 22, 2011
tom balko was always at ipm in BC. balko will be out in 31 months and he will tell all.
More mortgage fraud: Man sentenced in $35M, 200-home scheme
A Rosemount man has been sentenced to three years probation for his role in a $35 million mortgage fraud scheme that involved at least 200 houses, the U.S. Attorney's Office said.
Most of the houses were in North Minneapolis, prosecutors said in a news release.
Nathan Daniel Jesh, 34, and two other defendants who were sentenced earlier also will be required to pay more than $1.8 million in restitution.
Jesh admitted in his plea agreement that he agreed to close at least 175 real estate transactions while knowing that some of the loan applications were fraudulent.
Government lawyers said Jesh was working with Thomas Balko and Jonathan Helgason, co-owners of TJ Waconia, a former Roseville real estate company.
Helgason is serving an eight-year prison sentence for his part in the scheme, while Balko is serving seven years.
#15 Feb 14, 2012
A Shoreview bookkeeper was sentenced Tuesday to 16 months in prison for stealing nearly $350,000 from her employer over an eight-year period, the U.S. Attorney's Office said.
Caren Lynn Schmidt, 52, was sentenced in federal court in St. Paul on one count of fraud and one count of tax evasion. She also was ordered to pay restitution. She could have received up to 20 years in prison.
16 months for stealing 350 000 team cloe wallin manning stold 60 million you do the math = a long long time in prison.
#16 Mar 26, 2012
The Minnesota Department of Revenue announced today that the Hennepin County Attorneys Office recently charged Paul Howard Tollefson, 61, of Bloomington, with twelve tax crimes. Those include six felony and six gross misdemeanor counts of failing to file tax returns and pay taxes for the 2005-2010 tax years. The criminal complaint identified Tollefson as president and shareholder of Petroleum Equipment Sales & Installation Inc., which he operates out of his home.
According to the criminal complaint, Tollefson hasnt paid any state taxes during the years cited in the complaint, even though department investigators estimated that he earned hundreds of thousands of dollars during that time. The complaint said Tollefson made more than $3.2 million in bank deposits for the 2002-2009 tax years, and that he withdrew tens of thousands of dollars from his bank account to pay down his home mortgage and a home equity line of credit. Also cited were numerous ATM withdrawals, including withdrawals at such places as Grand Casino Hinckley and Stateline, Nevada, on the east shore of Lake Tahoe.
Tollefson willfully failed to comply with his state tax obligations, the complaint said.Instead he voluntarily chose to pursue a comfortable lifestyle while electing to evade his state tax obligations.
The complaint cited numerous efforts by the department to contact Tollefson concerning his failure to file his returns and pay his taxes, and his unfulfilled promises to comply with the law.
Each felony is punishable by up to five years in prison, up to a $10,000 fine, or both. Each gross misdemeanor is punishable by up to one year in prison and a $3,000 fine.
#17 Jun 22, 2012
8th Guilty Plea Entered in $14M Cloud 9 Mortgage Fraud
Joseph Steven Meyer and other co-conspirators allegedly defrauded mortgage lenders in conjunction with a condo project of bankrupt St. Paul developer Jerry Trooien, who has not been charged.
An Eagan man pleaded guilty Wednesday to a single count of mail fraud in connection with a mortgage scheme involving the Cloud 9 Sky Flats condo development in Minnetonka, according to the U.S. Attorneys Office in Minnesota.
Joseph Steven Meyer, 47, is the eighth person to enter a guilty plea in connection with the fraud, Attorneys Office spokeswoman Jeanne Cooney told Twin Cities Business on Thursday. Nine people have been charged.
Meyer entered his guilty plea in U.S. District Court in St. Paul. He will be sentenced at a later date.
Meyer and other co-conspirators are accused of providing false information to mortgage lenders and defrauding them of $14 million in conjunction with the Cloud 9 developmenta project of bankrupt St. Paul developer Jerry Trooien, who has not been charged.
Buyers who applied for mortgage loans for Cloud 9 units allegedly received kickbacks totaling 25 to 30 percent of the purchase price, and those involved in the fraud scheme allegedly kept some illicit mortgage loan proceeds for themselves as well.
More than 40 Cloud 9 units were allegedly sold through the scheme, and more than 80 percent of the loans have since defaulted.
In September, Meyer was charged in a federal indictment with numerous counts involving wire fraud, money laundering, and witness tamperingand he was scheduled to go to trial in July. Cooney said Thursday that the September indictment will be dismissed.
Meyer faces up to 20 years in prison for the mail fraud charge to which he pleaded guilty. Cooney noted that the earlier charges that were dropped wont necessarily decrease the length of his sentence, as many white-collar criminals serve sentences for multiple counts concurrently rather than consecutively.
Jared Mitchell Rothenberger, 43, of Minneapolis is the only person charged in the Cloud 9 fraud scheme who has not entered a plea. Hes awaiting trial, and last month, he was indicted for another mortgage fraud scheme tied to the Chateau Ridge condo development in Burnsville.
#18 Jul 6, 2012
securities fraud ( IPM ) realestate fraud ( DMW Properties )
A former investment adviser from Golden Valley was sentenced Thursday in St. Paul to 4¼ years in federal prison for tapping $1.1 million of her clients' money to pay for a luxury condominium, private school tuition and credit card payments.
Renee Marie Brown, 48, admitted that she solicited investors in 2009 for a South Dakota company called Investors Income Fund X, which she falsely said was a "bond fund" with an 8 or 9 percent rate of return. She also lied that she invested $200,000 of her own money.
Paul Engh, Brown's attorney, sought a sentence of three years or less, arguing that his client made a serious mistake but has since worked diligently to repay her clients. Two of her former clients asked that she receive zero to very little time behind bars, Engh said, "which is unheard of in white-collar cases."
Brown said she realizes that she had shattered her clients' trust.
"I am so deeply sorry for the trauma caused them," she said. "Nobody forced me to make the decision I made. I am not asking for sympathy; there isn't any due."
Assistant U.S. Attorney Kimberly Svendsen didn't offer any. She asked for a sentence of between six and eight years. Svendsen said the reason Brown's clients were repaid was due in part to Brown's two former partners in Wildwood Wealth Management, who put up hundreds of thousands of dollars from their personal assets.
#19 Aug 17, 2012
more fraud, just follow the dots
Two Chisago City residents pleaded guilty this week to fraudulently obtaining $1.8 million in mortgage loans in a scheme that involved 32 homes in Minnesota.
Chad Anderson, 38, and Troy Huston, 42, each face up to five years in prison for one count of conspiracy to commit mortgage fraud. The two were charged in April.
According to the U.S. Attorneys Office in Minnesota, Anderson and Huston admitted that in 2006 and 2007, they brokered numerous fraudulent mortgage loans by submitting false loan applications to lenders. At the time, the two worked as loan officers at Prestige Mortgage, a mortgage brokerage company in White Bear Lake.
The two allegedly recruited relatives and friends to act as straw buyers and purchase properties at inflated prices. Anderson and Huston then distributed the excess loan funds among themselves, the straw buyers, and others involved in the scheme.
The scheme involved a total of 32 homes located in Otsego, Oak Grove, Elk River, St. Francis, Brooklyn Park, Isanti, St. Paul, Chisago City, Becker, Cambridge, Buffalo, Minneapolis, Zimmerman, and Albertville, according to the U.S. Attorneys Office. All of the mortgage loans involved have gone into default, causing losses to the mortgage lenders that exceed $2.5 millionwhich, in addition to the loan amounts, includes expenses incurred by the lenders because of properties going into default.
Saint Paul, MN
#22 Mar 19, 2013
keep on these criminals
joseph anthony cole
colleen pearl wallin cole
renee mary manning
A Rochester man has been sentenced to five years in federal prison for swindling $11 million from investors in his company, the U.S. Attorney's Office said.
Jason Michael Meyer, 35, was sentenced Monday on one count of wire fraud and one count of money laundering, the government said in a news release.
Meyer started his investment company, 3 Hooligans Investment Properties, in 2007 and promised clients "significant and rapid returns for their investments with little or no risk," according to prosecutors.
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