A press release from the U.S. Attorney’s Office:

SUBURBAN CHICAGO LAWYER WHO HOSTS NATIONAL RADIO TALK SHOW INDICTED IN $9.7 MILLION MORTGAGE FRAUD SCHEM
CHICAGO — A suburban Chicago lawyer who hosts a national radio talk show was indicted on federal charges for allegedly engaging in two mortgage fraud schemes that defrauded lenders of a total of approximately $9.7 million.

The defendant, WARREN BALLENTINE, allegedly schemed with others to obtain more than two dozen fraudulent mortgage loans and represented buyers at multiple closings, knowing that they were fraudulently qualified for loans to purchase homes in Chicago and various southern suburbs.

Ballentine, 41, of Durham, N. Car., and formerly of Country Club Hills, owns the Law Office of Warren Ballentine, LLC, in Country Club Hills.

He was charged with two counts of bank fraud, two counts of making false statements to lenders, and one count each of mail fraud and wire fraud in a six-count indictment returned last Thursday by a federal grand jury. The indictment also seeks forfeiture of approximately $9,775,000 in alleged fraud proceeds.

Ballentine is scheduled to be arraigned at 9:30 a.m. on Feb. 5 before U.S. District Judge Matthew Kennelly in Federal Court in Chicago.

Gary Shapiro
The indictment was announced today by Gary S. Shapiro, United States Attorney for the Northern District of Illinois; Cory B. Nelson, Special Agent-in-Charge of the Chicago Office of the Federal Bureau of Investigation; and Thomas P. Brady, Inspector-in-Charge of the U.S. Postal Inspection Service in Chicago.

According to the indictment, between December 2004 and February 2005, Ballentine schemed with others to fraudulently cause various lenders to make at least eight loans totaling approximately $3.6 million by making false statements in loan documents, including

applications,
HUD-1 settlement statements, and
occupancy statements concerning the buyers’ intention to occupy the homes they purchased as a primary residence.
Ballentine then represented buyers recruited by others at real estate closings, knowing that they had signed and submitted false documents and had been fraudulently qualified to purchase the properties in Chicago, Monee, Woodridge, and Mokena.

Between February 2005 and May 2006, Ballentine allegedly engaged in a similar, separate scheme with others to fraudulently cause various lenders to make at least 20 loans totaling approximately $6.1 million by making false statements in mortgage documents, including the buyers’ intention to occupy the homes as a primary residence.

Ballentine also represented these buyers at closings, knowing that they had been fraudulently qualified for the loans based on false documents, including some that Ballentine advised them to sign at closings.

These homes were scattered throughout Chicago and other suburbs, including Country Club Hills, Richton Park, and Markham.

Each count of the indictment carries a maximum penalty of 30 years in prison and a $1 million fine or, as an alternative, the Court may impose a fine of twice the gross gain or twice the loss, whichever is greater, and restitution is mandatory. If convicted, the Court must impose a reasonable sentence under federal statutes and the advisory United States Sentencing Guidelines.

The government is being represented by Assistant U.S. Attorney Jason Yonan.

The Financial Fraud Enforcement Task Force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes. For more information on the task force, visit: www.StopFraud.gov.

 

SOURCE

12 Comments

  1. Praying for you. The bible states that the love of money is the route of all evil. God be with you.

  2. Warren Ballentine is my coz, he was born on May 13, the same as mine, they got the wrong man he would not do what they said he did.

  3. Look, when I heard that he had a daughter, I know he was not the person he portrayed on the radio. If he can get on the air waves and lecture people about how to raise their kids and he doesn’t let them know he has a daughter, he a person who doesn’t like to share their live openly with people, but can criticize others. That’s not genuine. When I heard you had a daughter, all of his sale tactics become clear, (DEBT SHOPPER, SKIN PRODUCTS). When I find out that he had a daughter, the $1000 from each member for food chains and then switch to MORTGAGES become clear. VERIFICATION IS EVERYTHING, “ATTORNEY SIGN THESE DOCUMENTS AND THE BUYER AND SELLER ARE ON THE WAY!!!!!” AH RIGHT. MEET HAVE THE CLIENTS, SO YOU CAN PASS YOUR BUSINESS CARD OUT DUMB DUMB!!! HE SHOULD STOP CALLING PEOPLE YOU DISAGREE WITH, “NICKELS” WE KNOW WHAT YOU ARE TRYING TO SAY TO THAT PERSON OF COLOR WHO DISAGREES WITH YOU. NOTICE, THEY GOT HIM AFTER HE SUPPORT THE PRESIDENT FOR RE- ELECTION. THE FEDS. NO MATTER WHAT DISTRICT TELLS WASHINGTON ABOUT A BIG TIMER WHO HANGS OUT WITH “50 CENT” THAT THEY HAVE EVIDENCE OF A CRIME. BEING SOMEONE WHO HAD A LOT OF POWER IN THE “BLACK COMMUNITY” AND NOT LET THE WORLD KNOW YOU HAVE A CHILD JUST DOESN’T SIT RIGHT ME. AND WHOEVER CAN’T SEE IT IS BLIND!!!!!!!!!!!!!!!!!!!!

  4. #1 – Please, please do not use all caps. It equates to screaming and is impossible to read. Who wants to try to wade through that?

    #2 – In the first part of your note—that part that is readable, you mentioned that Warren has a daughter. He also once had a wife. How is it a mark against him to have a child as long as he is caring for his child?

  5. I can only HOPE it is not true…I really do like his show, and miss hearing him on the radio…please, dont let this be true…we alreaddy lost jesse jackson jr to prison, we DONT need to lose warren too.

  6. Hey George we did not lose Jesse Jackson to prison. He and others of his ilk make careless choices when they have greater opportunity than most. A congressman set for life what more can he want. Jefferson in Louisiana, Nagin. There are mistakes we all make. What these guys committed was crime.

  7. Let me make a few statements…#1 I don’t believe everything I hear or even see. #2 I personally don’t believe the alligations, last but not lease,it is so sad that some people can’t see the good this man has done for his community/people. Warren helped me walked through a case and didn’t asked me for 1 dime. My prayers are with Warren and his family, GOD has his back!!!!

  8. Beatrice, what do you mean when you say you don’t believe everything you see?

  9. Wow Beatrice I don’t normally comment on these things but you have to step up your grammar and spelling a bit.

  10. Well I pray that Mr. Ballentine is innocent…for he is innocent until proven guilty.

  11. I have listen to Warren for a few years now, and I have never heard him mention an x wife or a child. I’ve only heard him mention his mom aunt maybe a few other females in his life. I don’t know if these allegations are true or not. I pray that they are not, because I like him and what he stands for. Look at those men who spent twenty years or more behind bars for a crime they were accused of and convicted for only to find that they were totally innocent. I hope that this is the case with Warren. I hope that his truthfighter slogan is more than just talk. My god…this seems to be a war on castrating, imprisioning and anihilating black men. I also liked Jessie Jackson jr. but since he has made a plea bargan he and wife are guilty as sin. Unfortunately, we as citizens and followers have to stop standing behind those who willfully break the law. Is there anyone who we can trust and believe in that will not betray our trust? MONEY IS NOT THE “ROOT OF ALL EVIL” It is the “LUST” OF IT. WE ALL ARE HUMAN. But what is done in the dark usually comes to light. Also look at Kuwami Kilpatrick. I was so disappointed at Corey Brooks for sending him money, if he wanted to help his family why didn’t he send the money to his wife. It probably could have been best served in the community or towards the center he is trying to build. TSK TSK TSK. SUCH GREEDY PEOPLE TAKING FROM THE NEEDY.

  12. Prayers are with Warren. Never kick a man when he is down or act like greedy angry wolves when he is wounded. God please bless this man and “if”he did any wrong please forgive him like you forgive us all. Really love his show.