Lillian Marquez, 41, of Stockton, was sentenced by U.S. District Judge John Mendez to three years and one month in prison for conspiring to commit mortgage fraud, according to Acting U.S. Attorney Phillip Talbert. Her co-defendant, Michael Keatts, 59 received the same sentence in September.
Marquez and Keatts operated Colonial Home and Business Services in Stockton and were licensed real estate agents. They supplied false information and documents to lenders on behalf of their clients in order for the clients to receive loans.
They also helped other clients commit short sale fraud by selling those clients’ homes to straw buyers, while the clients remained in the homes.
Read the original article in the Central Valley Business Times.