California Real Estate Fraud Report

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27
Oct

Prison Sentence for West Covina Woman for Real Estate Investment Fraud

Guadalupe Valencia, a 47-year old West Covina woman who pleaded guilty in 2011 to charges related to operating a real estate Ponzi scheme, has been sentenced to nine years in prison.

Valencia operated two companies in Downey called Real Estate & Loan Consultants and R.E. Equity Group, Inc. Through these firms, she solicited investors to fund two pools: one for providing short-term capital to businesses and the second for real estate loans.

The U.S. Attorney’s Office said Valencia took in $6.9 million in investor funds (real estate investment fraud) from 150 persons and made returns of approximately $1.7 million. In addition to the sentence meted out by U.S. District Judge S. James Otero, she was ordered to repay her victims $5.2 million.

Read the original article in the San Gabriel Valley Tribune.

© 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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