California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource 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 and elder financial fraud.

10
Oct

Fugitive Defendant in One Rincon Hill Real Estate Theft Arrested in Watsonville

Jay Shah, 48, who was convicted of stealing three luxury condominiums in San Francisco’s One Rincon Hill tower, was arrested in Watsonville at a Days Inn motel.

After his conviction in September on over a dozen felony counts, including grand theft, Shah fled.

Shah and his co-conspirators Melvin Emerich (Shah’s attorney), Winston Lum, and Kaushal Niroula played various roles in order to fool real estate agents and steal the properties (title fraud) from their owner Shirley Hwang. They then duped lenders into extending them a $2.2 million equity loan (loan fraud, mortgage fraud), which they divided among themselves.

Hwang alerted authorities when mail to one of the defendants was sent to her address and has since recovered title. All three of the condos are worth in excess of $6 million.

Kaushal Niroula was recently convicted in Riverside County for conspiring along with attorney David Replogle, Daniel Carlos Garcia and Miguel Bustamante for murdering Palm Springs retiree Clifford Lambert and stealing title to Lambert’s home and art work and looting his bank accounts. Craig McCarthy pleaded guilty in 2010 to voluntary manslaughter and turned state’s evidence on his former friends; he is awaiting sentencing this month. Art dealer Russell Manning pleaded guilty to fraud related to the theft of the art and received a five-year prison sentence.

Read the original article in the Silicon Valley Mercury News. More details of Jay Shah’s crimes can be found in this article in SFGate and KESQ.com and there are numerous postings on the California Real Estate Fraud Report about the Lambert murder and David Replogle.

© Copyright 2007-2017 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 Chetan's WP-Copyprotect.