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Court records and a report in the show that 4 more people have been indicted in a foreclosure bailout mortgage fraud that took place in Honolulu between 2005 and 2007. This takes the total of those indicted to 9 (nine).
On February 11, 2009 John Dimitrion, Julie Anne Baldueza Dimitrion, Rick Kealoha Pa, Jr. and Benjamin Yoshito Thompson were indicted and accused of taking part in a $1.3 million scheme to obtain mortgages by supplying false information on mortgage applications (1003).
The Dimitrion’s ran two companies, Total Advantage, LLC a mortgage brokerage and Global Financial Holdings, LLC (Global) an unlicensed escrow company. Thompson was a broker and loan processor and Pa a manager at Total Advantage and both acted as straw borrowers for separate homes.
The scheme entailed the solicitation of people who were facing foreclosure so that they could participate in a “foreclosure bailout program”. In a classic scheme the homeowners were told that they could keep their homes if they agreed to a temporary sale to third parties who were described as “investors” who would obtain new mortgages. The homeowners were charged $10,000 to pay for the investor and a further $10,000 to put the proceeds of the subsequent loan transactions into a bank account operated by Global. They were told that the property would be returned to them after a set period of time.
The homeowners were had an “agreement” with the investors that the money in the Global account would be used to cover monthly mortgage payments, taxes, association fees and other property costs. If the homeowner was unable to make payments on any new loans taken out the money would also be used to cover the payments. Then at the end of the set period of time the homeowner would receive any monies held in the Global account.
The investors then made false applications to purchase the properties and amongst other things falsely represented that they would take occupancy of the subject. It is alleged that the monies in the Global account were diverted for the personal use of the Dimitrion’s and they not all the monthly payments were made. As can be expected the homeowners were unable to make payments on the larger loans now taken and foreclosure proceedings were started.
The properties mentioned in the indictment are:

• 91-1033 Kaiakua Street, Ewa Beach, HI (straw borrower was Thompson)
• 92-1068 Palahia Street, Unit 3, Kapolei, HI (straw borrower was Pa)
• 91-1093 Kauike Street, Ewa Beach, HI

In the Kaiakua Street property and a fee of $20,000 was charged to the homeowners and loans totaling $701,387 were obtained from Fremont Inv and Loan from which Thompson was paid $10,000, Global received $68,000 and $16,000 was paid in fees to Mortgage Alliance.
In the Kauike Street property a straw borrower described only as P.I obtained mortgages totaling $299,102 from New Century from which P.I was paid $10,000, Global received $36,000 and Mortgage Alliance was paid $7,5000.
In the Palahia Street property Pa obtained loans totaling $294,375 from New Century from which Pa was paid $10,000, Global received $55,300 and Mortgage Alliance $8,200.
According to the Advertiser the arrests are the result of a more than a year-long FBI investigation that has resulted in the indictments of nine people. In May 2008, five other people — John Gilbert Mendoza, Antonio Alcantara Jr., Ira Altwegg, Albert A. Alimoot Jr. and Evan M. Koizumi — were indicted as a result of the investigation. Mendoza and Altwegg were former employees of Mortgage Alliance LLC.
Alimoot and Koizumi have plead guilty to conspiracy and face up to five years in prison when sentenced April 27.
The trial of the four is scheduled to go ahead on April 14, 2009.


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