Stefan Mahaley, 52, Moreno Valley, California, suspected of committing real estate fraud, was arraigned on multiple counts of Forgery and Procuring and Offering False or Forged Instrument.
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Christian Hidalgo, Chula Vista, California, was sentenced to 57 months of custody by District Court Judge William Q. Hayes for a mortgage loan-modification scheme that cheated over 120 people out of over $670,000, and resulted in the loss of many homes to foreclosure.
Safieh Fard, 52, Escondido, Calif., was sentenced to 63 months in prison by U.S. District Judge Cormac J. Carney. Fard was also ordered to pay $594,000 in restitution to the Internal Revenue Service (IRS) for unpaid individual income taxes.
Jason Sterlino, 34, Hercules, California, pleaded guilty in federal court in San Francisco, California, to paying bribes to a bank official in order to procure residential mortgage loans.
Timothy E. Shannahan pled guilty to conspiring to commit mortgage fraud by acting as a straw buyer in a $5 million mortgage fraud scheme.
Andrew B. Katakis, Danville, California, is now the subject of a superseding indictment charging him with obstruction of justice related to a federal investigation into conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, California.
Jacob John Cunningham, 26, and John D. Silva, 28, both from Irvine, California, Justin Dennis Koelle, 23, Costa Mesa, California, and Dominic Adam Nolan, 32, Irvine, were convicted on May 8, 2013, of defrauding hundreds of victims in a real estate scam that included fraudulently collecting upfront fees for loan modification services and sending fake letters with the CitiFinancial or CitiMortgage logos offering home loan modification assistance.
Valeri Kalyuzhnyy, 41, Orangevale,California, was indicted by a grand jury and charged with making false statements on a loan and credit application and money laundering.
Ricardo Fabian Salinas, 34, Los Angeles, California, pleaded guilty to bank fraud in connection with a mortgage fraud scheme perpetrated in Bakersfield, California.
Shervin Neman, whose given name is Shervin Davatgarzadeh, 31, Century City, California, was arrested by FBI special agents after he was charged with running a Ponzi scheme and then bilking another victim out of millions of dollars that he used to pay back earlier victims after the S.E.C. took him to court.