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.

03
Aug

Radio Hosts “Ken and Katie” Get Hard Time for Real Estate Fraud

Kenneth Powell and Kathryn “Katie” Rose, who broadcasted weekend infomercials on the KVTA/1520 AM radion band, have been sentenced to prison for operating one of the biggest real estate fraud schemes ever in Ventura County, according to prosecutors.

In sentencing Powell, 59, and Rose, 63, Ventura County Superior Court Judge Kevin McGee said “The magnitude of the harm here is impossible to overstate.” Powell received 18 years and Rose 12 years 8 months, lengthy sentences, in my experience, for real estate fraud.

Powell and Rose hosted a program called “Academy of Real Estate” and according to Ventura County District Attorney prosecutor Dominic Kardum, almost $3 million was stolen from 15 people living in Los Angeles, Ventura and Santa Barbara Counties. Co-prosecutor Miles Weiss said none of the money was recovered. Judge McGee referred to the crimes, which were presented to the investors as projects to develop vacant lots that had been secured by real estate as a “classic Ponzi scheme.”

The third defendant, Paul Charles Lascola, 70, is set to go before a preliminary hearing on October 10.

Read the original article in the Ventura County Star.

This entry was posted on Friday, August 3rd, 2012 at 10:53 am and is filed under Ponzi Schemes, Real Estate Crimes, Real Estate Fraud, Real Estate Investment 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.