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.