Sean McClendon, 46, a West Sacramento man, pleaded guilty in federal court for his role in committing mortgage fraud.
McClendon was allegedly paid by his co-defendant Anthony Salcedo for falsifying documents in the loan origination process (loan fraud). Another co-defendant, Anthony Williams, is alleged to have helped Salcedo find buyers for four properties either owned or associated with Salcedo. In violation of the law, none of the back door payments were disclosed to the lenders in any of the real estate contracts. In the end, the lenders suffered losses of over $1 million.
Read the original article in the Sacramento Bee.