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News From the Loudoun County, VA Police and INTERPOL…
Subject: Loudoun Woman Indicted in $50 Million Mortgage Fraud Scheme;
Suspect Possibly Fled CountryLoudoun County, Virginia- An Ashburn woman has been indicted in a mortgage fraud scheme allegedly taking advantage of over 100 potential homebuyers.
Diane H. Frederick Atari, 42, is accused of fraudulently fixing clients
credit and inflating their income on financial records to place them into
homes they could not afford. Atari allegedly illegally obtained monies in
excess of one-million-dollars in the scheme. The total loss on these
fraudulently obtained mortgages is estimated at over $50 million dollars.Authorities believe Atari left the country last week and is possibly in the
country of Jordan. Local law enforcement has contacted INTERPOL to assist in locating MS. Atari.Atari owns and operates ACR Consulting Company and Atari Management
Company, both located in Loudoun County, VA. Atari offered “rent-to-own”
services for customers who were seeking home ownership. Typically these
customers were unable to qualify for mortgages due to bad credit or low
income. Atari allegedly signed agreements with the victims with the
understanding ACR Consulting Company would attempt to fix the victim’s
credit….
Ms. Atari(RE AGENT) scam my friend, RK( educational partner) who is victim of her scheme. In 2007-2008, RK (who is Engineer and had excellent credit) was seeking help to get out of her controls. When situation was getting bad, I requested Jackie and Dyches to counsel my friend and they advised him not to fall into this pitfall but he kept continued until it was too late. RK finally has to file bankruptcy and lost all investment properties and most of saving in few days.Ms. Atari used RK?s credit card limit to fund the rehab properties and mortgage payments in return of profit share. When it came to my attention (late stage in his mess), I strongly warned my friend not to follow her as her deals seem to be suspicion based on what we learned from Jackie and other groups workshops. But Atari made him believe that she is a good practicing Christen and will not harm anyone and she feels people?s pain. She used church gathering to victimize the high credit people. I heard there is a Atari associated group who was into this plan. At one point, Ms Atari began threatening him and finally he reported to law enforcer but there was a lot of mess my friend could not clean up because of low-credit tenants she put in his properties and collecting rent directly from them. I am sure more detail will surface.
Lesson:
We all have to be very vigilant of such scam and be ethical; comply with laws when investments opportunities come across. Risk could be mitigated via personal education, learning about laws and counseling from honest mentors and most importantly APPLY WHAT WE LEARNED from gurus.Jackie’s $97/year website info and dedication to us is worth $97 million when guru’s counseling are follow up. She save me from many troubles but RK should have followed these valuable advise from the same guru, I am following slowly but surely. That does not mean every thing is risk fee, but we all have to listen and follow the advice which Jackie and Jack give us.
Forwarded message
From: Loudoun Sheriff <[email protected]>
Date: Wed, Jul 15, 2009 at 3:14 PM
Subject: Loudoun Woman Indicted in $50 Million Mortgage Fraud Scheme; Suspect Possibly Fled Country
To: RSAN <[email protected]>Loudoun County, Virginia- An Ashburn woman has been indicted in a mortgage fraud scheme allegedly taking advantage of over 100 potential homebuyers.
Diane H. Frederick Atari, 42, is accused of fraudulently fixing clients credit and inflating their income on financial records to place them into homes they could not afford. Atari allegedly illegally obtained monies in excess of one-million-dollars in the scheme. The total loss on these fraudulently obtained mortgages is estimated at over $50 million dollars.
Authorities believe Atari left the country last week and is possibly in the country of Jordan. Local law enforcement has contacted INTERPOL to assist in locating Atari.
Atari owns and operates ACR Consulting Company and Atari Management Company, both located in Loudoun County, VA. Atari offered ?rent-to-own? services for customers who were seeking home ownership.
Typically these customers were unable to qualify for mortgages due to bad credit or low income. Atari allegedly signed agreements with the victims with the understanding ACR Consulting Company would attempt to fix the victim?s credit.Initially clients were signed under the agreement at no up front charges, with monies being exchanged at the closing proceedings on the home. Eventually, the suspect began charging the clients an up front fee to cover expenses.
The suspect apparently worked with her clients? creditors to pay off debt, most of the time at less than face value. The debt was usually paid out of the suspects own funds. The money would be returned upon the closing of the customers house purchase. The suspect also allegedly created false credit for her clients by taking associates with excellent credit and advising credit card companies to add her client as an ?authorized user? of the card. This would help increase the clients FICO score. This helped create a false score allowing the clients to qualify for a mortgage.
During this time the suspect allegedly also was repairing the client?s reportable income. As the suspect moved her client towards purchasing a home the suspect apparently falsified her clients? financial documents inflating the client?s financial status to the point they could qualify for the mortgage. In some cases the suspect deposited her own funds into the client?s bank account to show high balances and created false employment documents.
Once the mortgage was approved, Atari would take her clients to close on the property. Sometimes the clients would balk at the large monthly payments required under the fraudulently secured mortgage. Atari would agree that she would subsidize their payments and help them make the monthly payments until such time as she could refinance their loan at a much lower interest rate, thus reducing their monthly payment to a manageable figure for a period of time.
Atari would make her commission upon the sale of the property. She would also receive the fee for credit repair and any monies that she fronted for her client. She also allegedly took a percentage of the fees paid at closing for the brokerage of the services. Most of these homes were unaffordable for her clients and were destined for foreclosure.
?Criminals frequently use challenging economic times to prey upon those in difficult financial straits. Citizens are particularly vulnerable when it comes to receiving financial advice in obtaining a home. This Office has been dedicated, through education and enforcement, to protecting Virginians from those looking to take advantage of unsuspecting victims. Our Financial Crime Intelligence Center was happy to work with Sheriff Simpson?s Department in this investigation and we look forward to assisting Commonwealth?s Attorney Plowman?s Office in the prosecution,? said Virginia Attorney General William C. Mims.
Atari was indicted Monday in Loudoun County Circuit Court on ten counts false statements to obtain credit, one count of money laundering, and one count of racketeering.
The year-long investigation was a joint effort between the Loudoun County Sheriff?s Office Financial Crimes Unit and the Virginia Office of the Attorney General Financial Crimes Intelligence Center.
I heard on Fox News today that her husband is being charged with fraud too. The authorities are trying to track these people down.
I would hate to be in their shoes.
Yikes. Glad I never met her!
Shakil – Are you in Loudoun County?
I’m one county over – Fairfax (Town of Vienna).
I believe we met once at a Dyches’ event.
Drop me a note if you wish … we can compare notes/trade cross-sounty leads etc.Best,
[email protected]
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