California Real Estate Fraud Report

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12
Jan

Glendale Man Admits Guilt in Multiple Mortgage Frauds

Henrik Sardariani, 44, of Glendale has pleaded guilty to three counts of wire fraud, one of conspiracy and one of money laundering for defrauding several private lenders out of $5 million.

Beginning in 2007, Sardariani created forged documents to obtain loans from Foremost Investment Properties,  Bith LLC, and Money USA. He used almost $2 million of the funds to pay his horse racing debts through escrow officer Wanda Tenney, 65, who has pleaded guilty for her role and who is yet-to-be sentenced (escrow fraud). The rest of the money went to himself and his relatives.

Sardariani faces up to 75 years in federal prison when he is sentenced. His brother Hamlet Sardariani, 42, has been charged and is awaiting trial.

Read the original article in the Glendale News Press.

This entry was posted on Thursday, January 12th, 2012 at 12:29 pm and is filed under Escrow Fraud, Loan Fraud, Mortgage 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, 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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