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.

29
May

Oakland Banker Charged with Elder Financial Abuse

Linda Sue Foss, 62, a Dublin-area woman,  pleaded not guilty to 20 felonies after been charged with grand theft, money laundering and elder financial abuse on May 13 in Alameda County Superior Court.

According to authorities and court documents, Foss embezzled over $1 million from at least two customers while she was employed at U.S. Bank in Oakland and from another three other customers when she became a manager at a nearby First Republic Bank branch.

The alleged crimes, which may have begun three years ago, came to light last month when an eagle-eyed wealth manager noticed that one of his client’s statements was altered, with the CD (certificate of deposit) dropping in value from $972,000 to $353,000 appeared altered.

After she was fired from U.S. Bank in March, Foss went to work at First Republic Bank, where she allegedly took over $164,000 from a customer there and used it to cover a theft to one of the U.S. Bank customers. 

Read the original article in ABC7 News and the San Francisco Chronicle.

© 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.