California Real Estate Fraud Report

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27
Jan

Last Defendant in Central Valley Mortgage Fraud Case Pleads Guilty

Arthur Menefee, 56, a Stockton-based real estate agent, has pleaded guilty to wire fraud in a mortgage fraud scheme that involved at least 31 properties.

Menefee, who surrendered his real estate license to the California Bureau of Real Estate in 2013, was accused of recruiting friends and fellow church-goers to purchase properties. The lure was that Menefee took care of the mortgage payments or down-payments; the loan applications he prepared indicated the persons worked at a business that didn’t exist.

Five of Arthur Menefee‘s co-defendants have already pleaded guilty and have been sentenced as follows:

Jannice Riddick, 34, of Sacramento (two years and 11 months in prison);

Florence Francisco, 65, of Houston, Texas (one year in prison);

Adil Qayyum, 34, of Rosele, Illinois (three years of probation);

Elsie Pamela Fuller, 41, of Richmond (one year and nine months in prison); and,

Leona Yeargin, 49, of San Pablo (18 months in prison).

Two other defendants await sentencing after pleading guilty: Valeriy Vasilevitsky, and Ruth Willis

Read the original article in the Central Valley Business Times.

© 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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