California Real Estate Fraud Report

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11
Nov

Real Estate Broker, Agent Go to Jail for Short Sale Fraud

The following is a press release by the Sacramento County District Attorney’s Office:

The Honorable Curtis Fiorini sentenced Shaima Hadayat and Harpreet Singh to 180 days in county jail for real estate fraud, specifically, short sale fraud.  Singh also received 5 years formal probation and Hadayat received 3 years informal probation.

Broker Shaima Hadayat and Real Estate Agent Harpreet Singh were realtors for multiple short sale transactions in which they signed arm’s length transaction agreements under penalty of perjury.  An investigation by the Office of Inspector General revealed the sellers were related to the buyers and after the transactions were completed, the sellers remained in their homes in violation of the agreements.

Both defendants conspired to facilitate and obtain commissions from these transactions.  Singh also forged proof of funds on multiple offers to various realtors throughout Sacramento County.

Harpreet Singh pled no contest to a felony count of forgery and agreed to surrender his realtor license to the California Bureau of Real Estate.  Shaima Hadayat pled no contest to a misdemeanor count of grand theft and agreed to surrender her broker license to the California Bureau of Real Estate.

The Office of the Inspector General was the investigating agency as the victims, Wells Fargo Bank and Bank of America, N.A., applied for and received federal Troubled Asset Relief Program (TARP) funds under the Capital Purchase Program (CPP).

This case was prosecuted by the Sacramento County District Attorney’s Real Estate Fraud Unit.

© 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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