California Real Estate Fraud Report

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21
Nov

Commercial Developer Sentenced in $50 Million Securities Fraud

Commercial real estate developer and mortgage broker Bradley Holcom was sentenced to 10 years in federal prison.

Holcom, 57, pleaded guilty in July 2014 to committing wire fraud. He had sold approximately $50 million worth of promissory notes over 150 investors across the U.S., many of whom lost millions, through his Trust Deed Investment Program.

Holcom admitted that he had falsely promised the investors who purchased his notes that they would receive first liens on properties he was developing when he instead conveyed to them a lesser, weaker interest.

Read the original article in the Times of San Diego.

 

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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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