California Real Estate Fraud Report

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25
Apr

Carlsbad Mother and Attorney Son Sent to Jail for Mortgage Fraud

A Carlsbad woman who is a real estate agent and her son, an attorney, are sitting in jail, awaiting sentencing after they were convicted by a jury of stealing $8 million from lenders.

Aida Agusti Castro, 67, and Stephen Kenneth Chrysler, 46, of Orange County, were both convicted of multiple counts of wire fraud in the sale of 16 homes in Oceanside, Escondido, San Marcos.

Stephen Chrysler was the owner and CEO of SKC Real Estate in Carlsbad. Aida Castro was an officer of SKC and sold real estate. Chrysler’s real estate license with the California Department of Real Estate is expired; I could find no record of Castro possessing a real estate license.

According to the U.S. Attorney’s Office, through various means of falsifying loan statements and applications (loan fraud, mortgage fraud), the pair obtained up to $350,000 in real estate commissions and loan fees in the sales of properties. Considering they both receive 20 year prison sentences and $250,000 in fines, the so-called earned fees seem inadequate.

 Read the original article in Courthouse News Service.

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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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