California Real Estate Fraud Report

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16
Jul

Loan Officers Plead Guilty to Mortgage Fraud in Carlsbad

Simon Saeid Koli, 41, of San Diego, and Kian Ashkanizadeh, 49, of Laguna Niguel have entered guilty pleas in a mortgage fraud case involving four expensive homes in the Carlsbad neighborhood of Aviara.

The two admitted criminals, who co-owned Southern California Finance, pleaded out to conspiracy to commit mail fraud, wire fraud and money laundering, according to U.S. Attorney Stephen Clark. They invented consulting fees and construction fees and then diverted them from escrow for their own use.

No word yet as to whether the straw buyer friends and family will be prosecuted.

Read the original article in North County Times.

This entry was posted on Monday, July 16th, 2012 at 9:40 am and is filed under 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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