Law Firms Face Foreclosure Frauds

Law Firms Face Foreclosure Frauds 5

Two more law firms in Colorado have been charged with fraud, relating to the inflating of foreclosure costs charged to homeowners, Reuters report

As part of an ongoing investigation, Colorado’s Attorney General John Suthers has filed eight civil law enforcement actions against Colorado foreclosure law firms in 2014, five of which resulted in settlements totaling nearly $12 million.

The firms targeted earlier this year included the state’s two largest, which were accused of defrauding homeowners, investors and taxpayers by grossly hiking costs and padding bills with unauthorized expenses.

On Monday, Suthers’ office named the latest two firms as Robert J. Hopp & Associates and The Hopp Law Firm, and The Vaden Law Firm, including the firms’ principals and their affiliated title companies.

It said the Vaden firm is alleged to have inflated foreclosure costs for postings, court filings and titles, while Hopp is accused of routinely collecting between $1,200 and $1,400 in premiums for non-existent title insurance policies.

Calls to the Hopp law firm went unanswered, while Vaden did not immediately respond to a message seeking comment.

 

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Distinguishing Misappropriation of Law Firm Funds From Other Funds