California Real Estate Fraud Report

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17
Sep

Orange County man and business partner plead guilty in mortgage modification fraud

Irvine-based Ped Abghari and Justin Romano of Blue Point, New York, have each pleaded guilty to wire fraud and conspiracy to commit wire fraud in a loan modification scam.  Abghari, who also uses the name Ted Allen, additionally pleaded guilty to misprision of a felony.

The indictment, brought by the Office of the U.S. Attorney for the Southern District of New York, alleges that Abghari offered mortgage modification services through the Irvine company he owned and that Romano did the same as the president of two “purported” law firms in New York. The men found their customers by purchasing the contact information of homeowners in distress and hiring a telemarketing firm to solicit their services to those homeowners. In all, the two men and their firms collected over $18.5 million from over 8,000 homeowners/victims.

Read the original article in HousingWire.

 

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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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