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Manuel Herrera, 39, Davis, California was sentenced today to serve one year in prison for conspiring to commit wire fraud.

According to court documents, between October 2004 and May 2007, Herrera was an employee of Delta Homes and Lending Inc., a now-defunct Sacramento-based real estate and mortgage lending company that was founded by co-defendant Moctezuma “Mo” Tovar, 50, Sacramento, California. Herrera, Tovar, and other Delta Homes employees and co-defendants agreed to commit fraud to obtain home loans from mortgage lenders. As part of the scheme, Herrera submitted fraudulent mortgage loan applications and supporting documents, which falsely represented the borrowers’ assets and income, liabilities and debts, employment status, citizenship status, and intent to occupy the property. Herrera also provided money to the borrowers in order to inflate their bank account balances. Once the loans were secured, the borrowers returned the money to Herrera. The aggregate sales price of the homes involved in the overall conspiracy was in excess of $10 million. As a result of the conspiracy, mortgage lenders and others suffered losses of at least $4 million.

Herrera is the fifth defendant sentenced as part of the scheme. Co-defendant Tovar was sentenced to four and a half years in prison; Jun Jun Michael Dirain, 47, Antelope, California was sentenced to six months in prison, followed by six months of home detention; Sandra Hermosillo, 57, Woodland, California was sentenced to nine months of home detention; Christian Parada Renteria, 43, formerly of Sacramento, California was sentenced to serve one year in prison.

Co-defendants Jaime Mayorga, 40, and Ruben Rodriguez, 42, both of Sacramento, California were convicted of conspiracy to commit wire fraud at a jury trial. They are scheduled to be sentenced by U.S. District Judge John A. Mendez on December 10, 2019. Each defendant faces a maximum statutory penalty of 20 years in prison and a $250,000 fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

U.S. Attorney McGregor W. Scott made the announcement.

This case was the product of an investigation by the Federal Bureau of Investigation. Assistant U.S. Attorneys Brian A. Fogerty and Justin L. Lee prosecuted the case.

 

Moctezuma “Mo” Tovar, 50, Sacramento, California, Jun Michael Dirain, 47, Antelope, California and Sandra Hermosillo, 57, Woodland, California were sentenced today for conspiring to commit wire fraud in a mortgage fraud scheme.

According to court documents, Tovar was the founder and president of Delta Homes and Lending Inc., a now-defunct Sacramento, California-based real estate and mortgage lending company. Delta Homes opened one office in 2003 and eventually had several offices in Sacramento and Woodland, California. As the president of Delta Homes, Tovar managed the day-to-day operations of the company and prepared and submitted residential home loan applications on behalf of Delta Homes’ clients. Dirain was a loan processor at Delta Homes, and Hermosillo was a loan officer at the Woodland office and was also responsible for submitting residential home loan applications on behalf of clients.

Between October 2004 and May 2007, Tovar, Dirain, and Hermosillo conspired along with others to obtain home loans from mortgage lenders based upon false and fraudulent loan applications and supporting documents that falsely represented the borrowers’ assets and income, liabilities and debts, and employment status. They provided money to the borrowers in order to inflate their bank account balances. Once the loans were secured, the borrowers returned the money to the defendants. The aggregate sale price of the homes involved in the overall conspiracy was in excess of $10 million. As a result of the conspiracy, mortgage lenders and others suffered losses of at least $4 million. http://www.mortgagefraudblog.com/?s=Jun+Michael+Dirain

Tovar was sentenced to four years and six months in prison, Dirain was sentenced to six months in prison, followed by six months of home detention; and Hermosillo was sentenced to nine months of home detention.

Co-defendant Christian Parada Renteria, 43, formerly of Sacramento, California pleaded guilty to two counts of concealing felonies related to the wire fraud conspiracy, and was previously sentenced to serve one year in prison.

Co-defendant Manuel Herrera, 39, Davis, California pleaded guilty to conspiracy to commit wire fraud, and co-defendants Jaime Mayorga, 40, and Ruben Rodriguez, 42, both of Sacramento, California, were convicted of conspiracy to commit wire fraud at a jury trial.

Herrera will be sentenced by Judge Shubb on a date to be determined. Mayorga and Rodriguez will be sentenced by U.S. District Judge John A. Mendez on November 5, 2019. Each defendant faces a maximum statutory penalty of 20 years in prison and a $250,000 fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

U.S. Attorney McGregor W. Scott made the announcement.

This case was the product of an investigation by the Federal Bureau of Investigation. Assistant U.S. Attorneys Brian A. Fogerty and Justin L. Lee prosecuted the case.

 

Jaime Mayorga, 40, and Ruben Rodriguez, 42, both of Sacramento, California were found guilty, on Tuesday, after a six-day trial, on one count of conspiracy to commit wire fraud.

On July 14, 2011, Mayorga, Rodriguez, and five others were charged by indictment with conspiracy to commit wire fraud. The defendants, including Mayorga and Rodriguez, worked for Delta Homes & Lending, a Sacramento, California, based real estate and mortgage lending company that falsified home loan applications to obtain mortgage loans for borrowers, many of whom did not and could not qualify for a loan without the lies submitted by Delta employees. Mayorga and Rodriguez were real estate agents and loan officers. The now defunct Delta Homes was founded by co-defendant Moctezuma “Mo” Tovar, 49, Sacramento, California.

According to court documents, Delta opened one office in 2003 and eventually had multiple offices in Sacramento, with additional branch offices in Woodland, Yuba City, and Southern California. Rodriguez and Mayorga both started working at the original Delta office on Enterprise Drive in Sacramento. Later, they both moved to a branch on Franklin Boulevard, and Rodriguez went on to work at other Delta branches, including a large branch office located on Howe Avenue.

According to court documents and evidence presented at trial, Delta targeted the Latino community with advertisements in Spanish that heralded the company’s ability to obtain home loans for borrowers who otherwise would not qualify for a mortgage. In addition to advertisements in which Delta claimed to be “Hispanics Serving Hispanics,” Delta employees solicited clients at flea markets and by going door-to-door through the community.

In order to obtain mortgages, the defendants falsified information on loan applications regarding the clients’ income, occupation, and personal savings. Straw buyers were sometimes used when the true borrower did not have a sufficient credit score to qualify. The defendants also deposited money into borrowers’ bank accounts to meet the lenders’ requirement that the borrower have money on hand, taking the money back after acquiring the verification of deposited funds that the lenders also required.

The evidence at trial showed that the defendants’ fraud was also personally lucrative. During the investigation, Rodriguez estimated that in 2006 alone, he earned more than $400,000. Similarly, Mayorga told agents that although he earned a salary when he started at Delta, he shifted to commission-based compensation and then earned between 50 and 85 % of the brokerage fees. Mayorga stated that he earned more than $500,000 in 2005.

The aggregate sale price of the homes involved in the conspiracy was in excess of $10 million, and as a result of the conspiracy, mortgage lenders and others suffered losses of at least $4 million.

Co-defendants Tovar, Manuel Herrera, 39, Davis, California; Sandra Hermosillo, 57,  Woodland, California; and Jun Michael Dirain, 46, Antelope, California all pleaded guilty to one count of conspiracy to commit wire fraud. Christian Parada-Renteria, 43, Woodland, California pleaded guilty to two counts of concealing felonies related to the wire fraud conspiracy.

Rodriguez and Mayorga are scheduled to be sentenced on August 6, 2019 by U.S. District Judge John A. Mendez. The court has not yet set a sentencing date for Tovar, Herrera, Hermosillo, and Dirain. Parada-Renteria was sentenced to serve one year in prison.

Each of the defendants faces a maximum statutory penalty of 20 years in prison and a $250,000 fine. The actual sentences, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

U.S. Attorney McGregor W. Scott made the announcement.

U.S. Attorney Scott stated: “Mayorga and Rodriguez took advantage of members of the Latino community who hoped to become homeowners and manipulated the real estate process for personal gain. As so often occurs in these cases, the result was losses to the financial institutions and neighborhoods burdened with foreclosed properties. We are grateful for the diligence and professionalism of the FBI in investigating this case.”

This case is the product of an investigation by the Federal Bureau of Investigation. Assistant U.S. Attorneys Brian A. Fogerty and Justin L. Lee are prosecuting the case.

Christian Parada-Renteria, 40, Woodland, California, pleaded guilty to one count of concealing a widespread conspiracy to commit wire fraud and one count of concealing a mail fraud transaction in connection with a mortgage fraud scheme,

According to court documents, Parada-Renteria was a loan officer at Delta Homes and Lending Inc., a Sacramento, California based real estate and mortgage lending company. Delta Homes opened one office in 2003 and eventually had five offices in Sacramento and Woodland, California. Continue Reading…

Moctezuma Tovar, 46, Sacramento, California and Sandra Hermosillo, 53, Woodland, California pleaded guilty to conspiring to commit wire fraud in connection with a mortgage fraud scheme.

According to court documents, Tovar was the founder and president of Delta Homes and Lending Inc., a Sacramento, California based real estate and mortgage lending company. Delta Homes opened one office in 2003 and eventually had five offices in Sacramento and Woodland, California. As the president of Delta Homes, Tovar managed the day-to-day operations of the company and prepared and submitted residential home loan applications on behalf of Delta Homes’ clients. Hermosillo was a loan officer at the Woodland office and was also responsible for submitting residential home loan applications on clients’ behalf. Continue Reading…

Manuel Herrera, 34, Sacramento, California, a licensed real estate agent, pleaded guilty to conspiring to commit wire fraud in connection with a mortgage fraud scheme wherein the defendant and his conspirators conspired to obtain home loans from mortgage lenders based upon false and fraudulent loan applications.

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Jun Michael Dirain, 41, Antelope, California, pleaded guilty to conspiracy to commit wire fraud in connection with a mortgage fraud scheme.

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