California Real Estate Fraud Report

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22
Jul

Tamara Tikal sentenced to prison for KATN mortgage rescue scam

Tamara Tikal, 45, the wife of convicted felon Alan David Tikal,  has been sentenced to 45 months in federal prison for her role in the KATN foreclosure rescue scam run by her husband and Ray Kornfeld. She was previously convicted of conspiring to commit mail fraud in a scheme that defrauded the victimized homeowners of over $5.8 million.

Alan Tikal, 46 was sentenced to 24 years in prison earlier this year after being convicted of 11 counts of mail fraud and one count of money laundering. Ray Kornfield was sentenced to five years in prison in February 2015 and ordered to pay $3 million in restitution, according to a press release by the U.S. Attorney’s Office for the Eastern District of California.

Alan Tikal’s prosecutors accused him of operating a business called KATN between January 7, 2010 and August 20, 2013, which sought “vulnerable and non-English speaking homeowners.” Tikal, who falsely claimed that he was a registered private banker, promised homeowners that he could reduce their mortgages by 75% in exchange for upfront fees and other payments. Prosecutors said there was no evidence that the Tikals or Kornfeld helped to get the mortgage debt of their victims forgiven or paid-off and that in fact they spent the monies they received on expensive cars, clothes and travel expenses.

Christy Romero, the Special Inspector General for the Troubled Asset Relief Program, said that after Alan Tikal was arrested and in jail, he continued to run his scam and that Tamara Tikal helped pay employee salaries, notarized documents and opened and maintained post office boxes and bank accounts that received payments from the homeowners.

Tamara Tikal was also ordered to pay $3,671,000 in restitution to victims of the offense.

“Tamara Tikal was sentenced to 45 months in federal prison for her role in a massive fraud scheme that robbed more than one thousand struggling homeowners out of millions of dollars in savings with false promises of saving victims’ homes from foreclosure,” Romero said. “Those who engage in fraud related to TARP will be brought to justice by SIGTARP and our law enforcement partners.”

Read the original article in HousingWire.

© 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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