California Real Estate Fraud Report

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19
Jun

Camarillo Woman Sentenced to Prison for Mortgage Fraud

United States District Court Judge John A. Kronstadt sentenced Rosa Fernandez, 38, of Camarillo, to 97 months in federal prison for the role she played in defrauding banks by falsifying applications by borrowers.

After being arrested in 2010 and charged along with nine other persons, Fernandez pleaded guilty in February 2012 to three counts of bank fraud. Shockingly, while awaiting sentencing, Fernandez defrauded a lender on one of her own properties while attempting a loan modification, for which she later pleaded guilty.

As part of her punishment, Rosa Fernandez must pay restitution to the banks of $3,646,485.

This large mortgage fraud scheme was investigated by numerous local and federal agencies, as follows: the FBI Ventura Resident Agency and the Ventura County District Attorney’s Office, IRS-Criminal Investigation, the U.S. Department of Housing and Urban Development-Office of the Inspector General, the Federal Housing and Finance Administration-Office of the Inspector General, the U.S. Secret Service, and U.S. Immigration and Customs Enforcement’s Homeland Security Investigations.

Read the original article in the Imperial Valley News.

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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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