California
Mortgage Fraud - California
Monday, August 16, 2010
8 Charged in Real Estate Investment Fraud Scheme
Akbar Bhamani, 56, Carmichael, California, Aly Khan Bhamani, 28, Carmichael, California, Zainulabidin Akbar Bhamani, 30, Sherman Oaks, California, Laila Bhamani, 57, Tracy, California, Feroza Bhamani, 55, Carmichael, California, Ken Sarna, 46, Vallejo, California, John Pierre Quintana, 30, Dixon, California, Shaun Bhamani, 26, Valencia,...
Tuesday, July 06, 2010
5th Person Pleads Guilty in Mortgage Fraud Case
Christopher Stovall, 37, Bakersfield, California, pleaded guilty to four counts of mail fraud in connection with a mortgage fraud scheme involving Crisp & Cole Real Estate. Four other persons, including Megan Balod, Leslie Sluga, Kevin Sluga, and Jerald Teixeira, have previously pleaded guilty in related cases.
In pleading guilty, Stovall...
Friday, June 25, 2010
Short Sale Fraud on the Rise
A warning has been issued to homeowners about an alarming rise in short sale fraud across California in a field "rife with scam artists".
A short sale is an arrangement in which a homeowner sells his or her home for less than the outstanding mortgage, with the consent of the lender.
Attorney General Edmund G. Brown Jr. joined the California...
Wednesday, June 23, 2010
Law Enforcement Cracks Down on Mortgage Fraud
The two cases involving mortgage fraud in Ventura, California, name a total of 14 defendants, all of whom face potential sentences of hundreds of years in prison if they are convicted in the schemes that cumulatively helped unqualified and straw borrowers obtain tens of millions of dollars in fraudulent mortgage loans.
Peter Morris, a California...
“Operation Stolen Dreams” Targeting Mortgage Fraudsters in California
Fifty-six individuals in the Northern District of California are facing mortgage fraud related charges as a result of Operation Stolen Dreams.
Nearly $44 million in losses were inflicted by the mortgage fraud schemes employed by the alleged fraudsters in the Northern District of California. Seven individuals in the District have pled guilty to...
Tuesday, June 22, 2010
Man Charged with Real Estate “Advance Fee” Scheme
Tony Huy Havens, 36, Modesto, California, has been charged in a 30 count indictment with wire fraud and criminal forfeiture.
According to the indictment, Havens targeted victims in at least eight states who were seeking multi-million dollar loans for large construction projects that were in danger of foreclosure. Havens provided the victims with...
Monday, June 21, 2010
Nevada Man Indicted for Foreclosure Rescue Scheme
George M. Eggleston, 63, Las Vegas, Nevada, has been charged with wire fraud and mail fraud in a foreclosure rescue scheme. A federal grand jury returned the indictment on June 10, 2010 and was unsealed after Eggleston's arrest. The indictment also seeks forfeiture of all property and proceeds obtained directly or indirectly in the scheme....
Trio Indicted for Mortgage Loan Scheme
Albert Lewis Ellis, 46 Fresno, California, Richard Keith Hanna, 42, Elk Grove, California, and Wrenl Burge, 38, Fresno, California, have been charged with conspiracy to commit mail fraud, three counts of mail fraud, and one count of identity theft. The indictment also seeks forfeiture of all property and proceeds obtained directly or indirectly...
Builder and 7 Others Indicted for Mortgage Fraud
Garret Griffith Gililland III, 28, formerly of Chico, California, now in federal custody, Nicole Magpusao, 30, also formerly of Chico, California, and now in federal custody, and eight additional defendants, in connection with a large mortgage fraud scheme in the Chico, California area. As previously reported on Mortgage Fraud Blog, defendants ...
Tuesday, June 15, 2010
Sisters Plead Guilty to Straw Buyer Scheme
Ralondria Stafford, 36, and Necole Ward, 31, both formerly of Vallejo, California, pleaded guilty to Bank Fraud.
According to court documents and as previously reported on Mortgage Fraud Blog, from 2004 through 2006, Stafford and Ward, who are sisters, operated RN Realty, a real estate office located in Vallejo, California, from which they...
Monday, June 07, 2010
Voodoo Used to Influence Outcome of Mortgage Fraud Case
Ruben Hernandez, 34, California, owner of Downey Motorcars, and co-defendant Joel Rodriguez, 45, a California resident, owner of Coast to Coast Mortgage, were sentenced in a mortgage fraud case. Hernandez and Rodriguez were convicted by a jury on May 6, 2010. Hernandez was found guilty of four counts of filing a false application and three...
Friday, June 04, 2010
6 Charged With Submitting False Loan Applications
Brian Andrew La Porte, Daniel John Schuetz, Michael Wayne Wickware, Roxanne Yvette Hempstead, Darryl Anthony Wallace, aka Darryl Anthony White, and Terrence Smith, aka Terry Lee Smith, California residents, have been charged with submitting false and fraudulent mortgage loan applications and related documents to banks and other lending...
Man Admits Selling Loan Mod Services
Glenn Steven Rosofsky, a California resident, pleaded guilty to a superseding information charging him with one count of conspiracy to commit wire fraud and money laundering, one count of money laundering, and one count of filing a false tax return. These criminal charges stemmed from Rosofsky's operation of a fraudulent telemarketing operation...
Wednesday, May 26, 2010
Three Indicted in Loan Modification Scam
Rene Alvarez, 39, Mariano Ortega, 34, both from San Jose, California, and Cydney Sanchez, 60, Los Angeles, California, have been charged in an 83 count indictment charging them with defrauding 45 homeowners in eight northern California counties over a one year period. Those victims were part of a larger scheme that involved the theft of over $2...
Tuesday, May 25, 2010
Guilty Plea Entered in Case Inlving Theft of $336,000
Diana Marks, 45, a California resident, pleaded guilty to felony charges including Grand Theft, Recording False Instruments, Perjury, and Creating False Financial Documents.
Defendant Marks, who is currently in custody, is facing a four year prison term sentence. The charges were the result of an investigation by the Santa Clara County,...
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
