California Real Estate Fraud Report

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25
May

6 indicted for mortgage fraud in San Diego

Six people have been charged with conspiracy to commit wire fraud and wire fraud in a federal indictment.

Brian Andrew La Porte, Daniel John Schuetz, Michael Wayne Wickware, Roxanne Yvette Hempstead, Darryl Anthony Wallace and Terrence Smith are alleged to have submitted false loan applications to OwnIt Mortgage Solutions Inc., WMC Mortgage Corp., Argent Mortgage Company, Countrywide Home Loans and First Franklin, resulting in the loss of almost $21 million to the lenders. The defendants used straw buyers with good credit histories to obtain the loans, then paid themselves and the straw buyers with the escrow proceeds.

Read the full article in San Diego 6 and LoanSafe.

© Copyright 2007-2017 Monique Bryher

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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, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes 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.

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