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.

31
Jul

Four Orange County Men Get Jail Time for Loan Modification Fraud

The Orange County District Attorney’s Office announced that four men who were prosecuted for operating a phony loan modification business have been sentenced to jail time and probation.

1. Justin Dennis Koelle, 23, of Costa Mesa – nine months in jail and five years of formal probation.

2. Dominic Adam Nolan, 32, of Irvine – six months in jail and five years of formal probation.

3. Jacob John Cunningham, 26, of Irvine – eight months in jail and five years formal probation.

4. John D. Silva, 28, of Irvine – eight months in jail and five years formal probation.

Andrew Michael Phalen, 26, of Mission Viejo, skipped trial and pleaded guilty in June 2012. His sentence was one year in jail and five years of formal probation.

According to prosecutors, the defendants sent out letters to borrowers that appeared to come from their lenders, offering loan modifications. This occured from January 2009 to March 2012.

No loan modifications were ever performed but the homeowners who were duped paid up to $4,600 to the fraudsters.

Read the original article in the Daily Pilot.

© 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.