California Real Estate Fraud Report

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20
Jan

Operators of Capital Access LLC Plead Guilty in $10 Million Mortgage Fraud Case

Vallejo residents Zalathiel Aguila, 42, and Omar Anabo, 53, pleaded guilty to conspiracy to make false statements on loan applications.

Aguila and Anabo ran Vallejo‑based Capital Access LLC. The purpose of the company was to be an interim mortgage rescue program that purported to help distressed homeowners by purchasing their homes using straw buyer investors. The homeowners were convinced to sign title of their homes to Capital Access, which then sold the properties to the straw buyers. The straw buyers obtained loans after promising to occupy the homes and that the down-payment money was not borrowed; neither were true, according to court records.

Read the original article in the Daily Republic.

 

 

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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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