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5 guilty in homes scam

By CARRIE WEIMAR
Published March 30, 2007

TAMPA - A federal jury found five Tampa residents guilty of scamming homeowners into selling their homes to avoid foreclosure, then profiting on the deal.

Brothers Ramzy and Kamal Moumneh, 37 and 38, were accused of siphoning more than $2-million in home equity from their victims in an elaborate scheme that billed itself as a way to save struggling homeowners.

According to court documents, the Moumnehs, along with Chuong X. Dam, 33, Demetrios J. Voiklis, 32, and Kimberly Brothers, 28, conspired under the name of First Hanover Mortgage Corp. to help homeowners facing foreclosure by having them sell their homes to straw buyers. The homeowners were told they could buy the homes back after making 12 monthly lease payments.

After each sale, the defendants obtained new mortgage loans in excess of the balance owed on the existing mortgage. They then paid off the old loan and funneled the excess money to companies owned by the Moumnehs and Dam.

The companies would then demand a payoff from the homeowner through what prosecutors called a "sham document" that they sent to Voiklis or Brothers, closing agents for the sales.

All the defendants were convicted of multiple counts of fraud and conspiracy and face potential prison sentences of more than 30 years. A sentencing date has not yet been set.

Carrie Weimar can be reached at 813 226-3416 or cweimar@sptimes.com.

[Last modified March 30, 2007, 00:45:38]