California Real Estate Fraud Report

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24
May

OF Lending President Target of Restitution Lawsuit

Prosecutors in the case against William Hogarty are hoping to win restitution for Bay Area homeowners who paid a total of more than $350,000 in fees to him and his company for what is alleged to be a mortgage rescue scheme. He has been charged with 16 criminal counts of grand theft, real estate fraud and perjury; three other suspects face charges as well.

Hogarty, the president and founder of OF Lending, located in Pleasanton, has already surrendered his real estate license. This occurred after an investigation by the California Department of Real Estate  determined that he and his company violated the ban on taking advance fees. Hogarty’s attempt to discharge his debts through bankruptcy were denied by a federal bankruptcy court.

Hogarty was in a Pleasanton court on April 22 for charges of attacking his former roommate. During the hearing, the judge said that a warrant had been issued for his arrest on real estate fraud charges and he was taken into custody.

Twenty-two people have filed a civil lawsuit against him seeking restitution.

Read the original article in ABC7 News.

© 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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