Real Estate Agent Charged with Fannie Mae REO Fraud

Rachel Dollar —  September 1, 2016 — 9 Comments

Spenser Iatridis, 30, Scottsdale, Arizona, was charged by Information with Conspiracy to commit mail and wire fraud on August 26, 2016 in the United States District Court for the District of Arizona.

According to the Information, Daphne Iatridis aka Daphne Trilling, aka Daphne Telles, 57, Scottsdale Arizona has been a real estate agent in Phoenix, Arizona for 18 years and Arthur Telles, 57, Scottsdale, Arizona, her husband, is also a real estate agent.  Brendyn J. Iatridis, aka Brendyn Trilling, 26, Scottsdale Arizona is the son of Daphne and also a real estate agent.  Spenser  is also a real estate agent and is the son of Daphne and brother of Brendyn.

Daphne, Telles and Brendyn were charged separately.

In 2008, Daphne was a designated listing agent for Fannie Mae REO properties.  Daphne knew that neither she nor her relatives could purchase the properties she marketed and sold for Fannie Mae and that Fannie Mae had certain restrictions that agents had to comply with in order to purchase an REO property they were listing.

Unbeknownst to Fannie Mae, the Iatridises purchased 28 properties for their own purposes.  They did this by purchasing 18 of the properties in the name of Spenser’s aunt.  Spenser knew that his aunt did not provide her permission to purchase the properties in her name and was not compensated in any manner for the purchases. Spenser knew that Brendyn falsely notarized his aunt’s name by either forging her signature or cutting and pasting a known signature onto documents.  On each of the properties purchased, defendants falsely listed his aunt as the trustee of a trust that they designated.  Once they had purchased the properties, they transferred them into the name of a deceased relative in order to conceal their ownership.  When Brendyn was notified that federal agents wanted to review his notary book, he misrepresented that it had been lost or stolen.

Defendants also committed a similar fraud with respect to at least nine homes that Brendyn purchased in the name of Brendyn Triling.  The defendants cut and pasted the signatures of known notaries on the documents.

Defendants committed the same fraud by purchasing homes in the name of Sing Lea Trust with Spenser’s former girlfriend as the trustee.  Defendant forged her signature and falsified notarized documents to complete the purchases.  They later transferred the properties to a trust under their control.

Defendants also submitted false invoices for repairs and rehabilitations of the properties to Fannie Mae.

Once they obtained the properties, Defendants installed renters for the purpose of obtaining rental income.  Because they were concealing their ownership of the properties, Spenser knew that they intentionally failed to report the rental income on their tax returns.

 

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Rachel Dollar

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9 responses to Real Estate Agent Charged with Fannie Mae REO Fraud

  1. I live just up the block from them. I was home the morning the F.B.I. raided their gated compound and read about their crimes in the local paper.

  2. It sounds like the judge wants it to go to trial. Is this case available for the public to view? If so, is there a link and case numbers to follow?

    • Bob….can I ask you your interest in this case. Do you know the family or have they done something to you? The documents can be viewed at the Federal Court or you can create an account on Pacer but they charge you to view the documents which adds up quickly.
      There are no links to follow. Here is the case # cr-15-01062-PHX-NVW. If this goes to trial then all 18/19 counts of the indictment are back in play which would include identity theft. The defendants did pay the IRS with a check for $215,000 for tax evasion and penalties. These people have a lot of money so that was a drop in the bucket for them.
      And they continue to work as realtors in Phoenix! Stay tuned! The son Spenser is married to Elissa Kirk who’s father is Stuart Kirk who owns McCormick Ranch Golf course in Scottsdale. What a saga of greed!

  3. Are there any updates?

    • You would not believe what happened in court. The judge does not want to accept the plea bargains because he feels that the defendants should not have to forfeit the properties even though they were acquired by fraud! He must have repeated this 15 times. The court was so unorganized it was like watching a circus! The judge also did not like the fact that Brendyn and Spenser get Diversion since they “participated in a long running organized conspiracy of fraud and the forgery was breathtaking”. He said the sons pretty much walk because their parents have plenty of money to negotiate with their 4 attys. The attys asked the judge to accept the pleas and that the forfeiture was valid. In the end the judge requested a briefing on forfeiture due April 14th and sentencing set for April 27. Looks like this is headed to trial and all defendants may be looking at jail time.

  4. All defendants filed a motion to push the sentencing out again but the motion was denied.
    I will attend the sentencing. March 27th, 2017 at 1:30, 2:30 and 3:30. Spenser will be sentenced at 11 am.
    I will be very disappointed if they get a slap on their wrists.
    These 4 people are arrogant and feel that they are untouchable…..we shall see.

  5. They are all crooks! They also falsified real estate documents to try and steal another sisters home..the information is contained in the plea bargain. Sentencing is set for Feb 13, 2017.

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