California Real Estate Fraud Report

This report spotlights real estate professionals and businesses lacking the ethics and conscience to treat their fellow humans in a fair, honest and upstanding manner. It is a clearinghouse for real estate fraud, mortgage fraud, loan fraud and appraisal fraud occurring in California, especially Los Angeles and Southern California. - Monique Bryher

14
Aug

FBI Arrests Ringleader for Massive Mortgage Fraud

The FBI arrested a Stockton man on suspicion of mortgage fraud in a case involving more than 100 houses he bought and sold in the past 10 years with the assistance of loan officers and escrow officers with whom he conspired.

Investigators say Ifthikhar Ahmad, 36, worked with Deborah Timmins, 49, formerly of Chicago Title and later with Commonwealth Land Title; Timmins’ twin sister, Denise James; William Bridge, 40, a mortgage broker doing business as The Loan Center in San Francisco; and John Ngo,  a senior loan coordinator with Long Beach Mortgage who approved many of Ahmad’s loans, according to the FBI report. Long Beach Mortgage was a subprime lending arm of Washington Mutual and has been the news for loan fraud by its loan officers.

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This entry was posted on Thursday, August 14th, 2008 at 4:55 pm and is filed under Loan Fraud, Mortgage Fraud, Other R.E. Crimes, Real Estate Fraud. Responses are currently closed, but you can trackback from your own site.

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud and appraisal fraud occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.