California Real Estate Fraud Report

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13
Oct

Nancy Russell Kempis, 64, of Santa Clara, has been sentenced for more than six-months in jail for scamming a family out of their home and defrauding four banks.

The former real estate agent  convinced the family to sell her their home at a “dramatically reduced price” in order to avoid foreclosure. She rented them the home and promised to return it. Instead, she secured a number of fraudulent mortgages, sucking all the equity out of the house and defaulting between 2006 and 2009. The home was then lost to foreclosure and the family evicted.

Kempis’ scam cost lenders $750,000.

Kempis eventually fled to New York, went into hiding under the false name Morpheus Daw Pud Ko and helped run a women’s ministry.

“Ms. Kempis scammed hundreds of thousands of dollars and drove a family into homelessness,” Santa Clara County Deputy District Attorney Charles Huang said in a statement.

Read the original article in KRON4.com

© 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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