California Real Estate Fraud Report

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09
Nov

Real Estate Agent Found Guilty of Running Loan Modification Scam

A former real estate agent from Hacienda Heights is facing serious time in prison after being convicted by a jury of 14 felonies related to a loan modification scam.

Laura Cecilia Carlson, 66, was accused of running a company called Global Team Consulting, which purported to help homeowners reduce the principal to their mortgages. According to prosecutor Dominic Kardum of the Ventura County District Attorney’s Office, she and her employees instead took advance fees from her clients and not only received no services, but in some cases, lost their homes to foreclosure.

It has been illegal to take advance fees for loan modification services since 2009,  when SB 94 was passed.

Kardum obtained convictions against Carlson for consulting fraud, grand theft, filing a forged instrument and money laundering. He had previously obtained convictions against Victoria Santos of Oxnard; Juan Alvarado Cervantes of Los Angeles; and Felipe Carlos Segovia Castro of Los Angeles. Defendant Margie Joanna Vargas, of Orange, avoided trial by pleading guilty to a misdemeanor.

The case was heard before Ventura County Superior Court Judge James Cloninger.

Maria Suarez, a Deputy Real Estate Commissioner with the California Department of Real Estate (DRE), filed an accusation against Carlson in October 2011 seeking to discipline her for her conduct with respect to homeowners Maria Arevalo, RenatoFernandez and Feliciano Betancourt. Laura Cecilia Carlson allowed her real estate salesperson’s license to expire in September 2012.

Read the original article in the Ventura County Star (VC Star).

Victims of fraud committed by a real estate license may be entitled to recover some of their losses from the California Real Estate Recovery Fund, also known as the Real Estate Consumer Recovery Account,  which is run by the DRE. You can read an excellent article about the fund that has been published in Property ID.

© Copyright 2007-2017 Monique Bryher

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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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