California Real Estate Fraud Report

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13
Jul

North Hills Realtor Charged in Real Estate Fraud / Ponzi Scheme

Celia Gallardo, 42, a Realtor® from the North Hills community of the San Fernando Valley, was arrested and charged with running a multi-million dollar Ponzi scheme in the  Santa Clarita Valley.

The Department of Justice, in its indictment, accused Gallardo of stealing from investor who trusted her with her real estate investment program, which turned out to be nothing more than a Ponzi scheme. Amazing, she promised them returns of 100% in 30 days. Gallardo used most of the money to finace travel, purchasing a residence and keeping a lot of cash in her wallet.

Read the full article in the Daily News.

This entry was posted on Friday, July 13th, 2012 at 10:49 am and is filed under Ponzi Schemes, Real Estate Fraud, Real Estate Investment Fraud. Responses are currently closed, but you can trackback from your own site.

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© Copyright 2007-2013 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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