Luis Rojas, 38, has pleaded guilty in federal court to making false statements in connection with a fraudulent short sale of his property in Clark County, Nevada.
The U.S. Attorney’s Office for the Southern District of California reported that Rojas paid his brother-in-law cash to act as a straw buyer (non-arms-length buyer) for the short sale purchase of his $935,430 home in Henderson for $288,000. In other words, by completing the purchase, Luis Rojas and his wife, who remained in the house, now own it outright. He was so brazen that just one month after the “short sale”, the brother-in-law transferred the property back to Luis. All of these acts are against the agreements typically required by lenders to effect an acceptable, arms-length short sale and are considered by lenders to be short sale fraud.
Even though he is a criminal defense attorney in Las Vegas – where there is no shortage of crime – Luis Rojas told his lender GMAC he could not longer afford his mortgage payments, which he admitted in his pleading was untrue. He also hid from GMAC that he had liquid assets in a brokerage account valued at over $134,000 when he filed his financial disclosure form.
When he faces U.S. District Judge James C. Mahan on June 1, Luis Rojas faces a maximum sentence of five years in prison and a fine of up to $250,000.
No word as to whether Rojas’ brother-in-law is being prosecuted. And as of the date of this writing, the property is still in the name of Luis Rojas and his wife.
Read the original article in KLAS-TV.