California Real Estate Fraud Report

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26
Feb

Lakewood Woman Convicted in Real Estate Fraud

Felicia Muhammad, 45, has been convicted on five felony counts for lying to banks that funded mortgages for three properties, according to the U.S. Attorney’s Office. Muhammad, a licensed real estate salesperson living in Long Beach, was convicted of making false statements to federally-insured financial institutions: U.S. Bank, Countrywide Bank and First Horizon Home Loans — a subsidiary of First Tennessee Bank, causing losses of $662,000 when the properties were foreclosed.

“This defendant lied to three different financial institutions, causing significant losses to all of them,” said U.S. Attorney Eileen M. Decker, in a statement. “The Department of Justice will continue to hold accountable those who would commit mortgage fraud and place U.S. financial institutions at risk.”

 

Read the original article in the Long Beach Press Telegram.

© 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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