FBI — Former Chief Executive Officer of Mortgage Servicing Company Pleads Guilty to Bank Fraud in Scheme to Withhold Funds from Wells Fargo Bank: "According to the indictment, from 2004 to 2009, Gross and U.S. Mortgage withheld more than $8 million in loan payoffs that were due Wells Fargo Bank by submitting to the bank reports stating that numerous borrowers were continuing to make monthly payments when, in fact, they had paid off the loans in full. Rather than remit to Wells Fargo Bank the full payoff amount, Mr. Gross and U.S. Mortgage forwarded only what the borrowers’ monthly payment would have been and retained the difference in U.S. Mortgage’s bank account. To deceive Wells Fargo Bank about the status"
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