California Real Estate Fraud Report

You have just entered the #1 private-sector resource on Google for real estate fraud in California. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over into the Dark Side, the realm where dishonesty, conniving and evil are the order of the day and downright common. Sign up for a free subscription to this comprehensive news source and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud, rent skimming and elder financial fraud. No advertising is accepted so that my subscribers know my writing is free of influence by deep-pocket institutions.

13
Jul

All Fund Mortgage’s Manager Goes to Prison for Mortgage Fraud

The former manager of All Fund Mortgage of Murrieta and Anaheim Hills has been sentenced to 12 years in prison and three years of supervised release after pleading guilty to wire fraud and tax evasion in a mortgage fraud conspiracy.

Gregory Flores was also ordered by U.S. District Judge J. Virginia Phillips to repay over $1 million in restitution to the homeowners he ripped off and another $98,000 to the Internal Revenue Service.

All Fund, Advantage 2000, Crown and Associates, Ichthommol Trust, B Owned and Right Way, companies with which Gregory Flores was affiliated, convinced the homeowners that they could hold on to their properties by adding straw buyers to the homes’ title in order to improve the homeowners’ credit. Lenders were then solicited to refinance the homes. According to the U.S. Attorney’s Office, title was not transferred back to the homeowners nor were the banks paid their mortgages (loan fraud, mortgage fraud).

Read the original article in the Press Enterprise.

 

This entry was posted on Friday, July 13th, 2012 at 10:33 am and is filed under Loan Fraud, Mortgage Fraud. Responses are currently closed, but you can trackback from your own site.

«
»

Comments are closed.

© Copyright 2007-2013 Monique Bryher

Legal Disclaimer.

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.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.

BLOG POWERED BY SHARP BIZ IMAGE

Copy Protected by Chetans WP-Copyprotect.