Seven suspects who have been charged in a mortgage fraud scheme that defrauded more than 1,550 Inland Valley, California, homeowners seeking loan modification services during the foreclosure crisis have been arrested.
Archives For November 30, 1999
Carlyle “Carl” Lee Cole, 66, Bakersfield, California, was sentenced by United States District Judge Lawrence J. O’Neill to 17 years and seven months in prison and Caleb Lee Cole, 37, Bakersfield, was sentenced to six months in prison for charges stemming from their involvement in an extensive mortgage fraud scheme that ran from January 2004 to September 2007.
Claudia Montes, 41, San Diego, California, was sentenced to 20 months in prison and ordered to pay $1,337833.16 in restitution for her role as a straw buyer in a mortgage fraud scheme.
Ismael Cancinos and Mercedes Alvarez have been arrested and charged with 86 felony counts of real estate fraud.
Jun Michael Dirain, 41, Antelope, California, pleaded guilty to conspiracy to commit wire fraud in connection with a mortgage fraud scheme.
Christopher Jackson, 46, Elk Grove, California, after a seven day trial, was found guilty of all six counts charged against him.
James Lee Lankford, 74, Modesto, California, a former real estate broker, was sentenced by Senior U.S. District Judge Anthony W. Ishii to 10 years in prison for orchestrating an 11-year mortgage fraud scam that looted elderly homeowners and lending institutions of close to $10 million dollars.
Minerva Sanchez, 47, Fremont, California, was arrested at her home for allegedly conspiring to commit bank fraud in connection with a fraudulent short-sale scheme.
David Foley, 48, Los Gatos, California, was sentenced to two years in prison and ordered to pay a $5,000 fine for engaging in a conspiracy to commit mail and wire fraud, and conspiracy to commit bank fraud.
Kathryn Sylvester, San Diego, California, pleaded guilty to participating in a mortgage fraud conspiracy in which she and several co-conspirators caused more than $6 million in losses associated with various properties in San Diego County and elsewhere.