California Real Estate Fraud Report

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01
Jul

Vacaville Developer Facing New Charges

Vacaville real estate developer Richard D. Lamphere, 50, facing a number of criminal charges in relation to allegations of ripping off two private investors, has had his arraignment in Solano County Superior Court postponed temporarily by Judge Wendy G. Getty.

The criminal charges include grand theft, obtaining money by false pretenses, selling unregistered securities, making false statements and omissions and the sale of a security by willful and fraudulent use of a device, scheme or artifice to defraud.

Lamphere is out on $100,000 bond from an earlier case, in which he was ordered to pay a civil judgment of close to $2 million to Ronald Nicoli, who had invested almost $1.3 million with Lamphere to buy property along the Feather River in Oroville.

The new criminal charges arise from allegations by a retired airline pilot in Minnesota who said he invested $300,000 with Richard Lamphere for the same Oroville project. When investigators reviewed his bank records, they discovered that Lamphere had spent the entirety of the pilot’s investment on personal expenses.

Read the original article in The Reporter.

© 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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