Richard Nazabal, 51, a Rancho Cucamonga, California, real estate agent, was sentenced to nine years in state prison and ordered to pay restitution to his victims as well as Franchise Tax Board. The total amount of restitution is still being determined.

Nazabal pleaded guilty to four counts of grand theft and one count of state income tax evasion.

The Franchise

Veronica Sanchez Gallegos, 28, Ventura, California, a licensed real estate agent, pled guilty on August 6, 2009, to one felony count of theft from an elder, five felony counts of grand theft, and admitted a special allegation of taking more than $500,000.

In an investigation conducted by the District Attorney’s Office Bureau of Investigation, it was determined that Gallegos conducted

386 mortgage foreclosure consultants have been threatened by possible criminal and civil prosecution unless they post $100,000 bonds and register with California Attorney General Edmund G. Brown Jr.’s office. Additionally, more than two dozen companies were ordered to justify suspicious loan modification claims made in “slick advertising,” online and through the mail.

Brown has sent letters directing 386 mortgage foreclosure consultants to register with his office within 10 days and

Anita Mendoza, 44, Chino Hills, California, has been arrested by Investigators with the San Bernardino County District Attorney’s Real Estate Fraud Unit for eight felony counts including grand theft, forgery, and filing forged documents with the County Recorder’s Office.

In 2006, Mendoza allegedly forged the victim’s signature on a Grant Deed and Deeds of Trust. Two

Gilfert Welton Jackson, 64, Los Angeles, California, was arrested without incident at a homeowner’s residence in Los Angeles by Los Angeles County Sheriff’s deputies and turned over to special agents with the Federal Bureau of Investigation. Jackson was taken into federal custody on charges that he has been defrauding homeowners by falsely promising them that he could prevent

Capmark Finance Inc., a California mortgage lender, has been charged for violating the False Claims Act by making false statements on applications for federal mortgage insurance covering residential nursing homes. The lawsuit, filed in United States District Court in Los Angeles, relates to a federal program under which the U.S. Department of Housing and Urban Development (HUD) guarantees mortgage loans used to acquire healthcare

Maria Sanchez, 36, El Monte, California, has been found guilty on 14 counts contained in an indictment, including conspiracy, money laundering, wire fraud and aggravated identity theft. Sanchez, a real estate agent, was convicted on fraud and money laundering charges for scheming with her sister to falsify home loan applications and fraudulently generate more

Lisa Lievanos, 45, Fontana, California, has been convicted of five felony counts – conspiracy, two counts of wire fraud, money laundering and making false statements to special agents with the Federal Bureau of Investigation.  As previously reported on Mortgage Fraud Blog, Continue Reading...