California Real Estate Fraud Report

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28
Mar

Judge Sends a Signal as Former Executive Gets Prison in Seeno Mortgage Fraud Case

Pray that you are not a white-collar criminal whose sentence is up to Judge Yvonne Gonzalez Rogers.

The Oakland judge sentenced Ayman Shahid, 41, of Rancho Santa Fe, to 46 months in federal prison. Shahid had pleaded guilty in 2015 to conspiracy to commit bank fraud and had cooperated with federal authorities in their efforts to build a case against  the Discovery Sales corporation, which is the sales arm of the Seeno homebuilding empire. Federal prosecutors had asked for a lesser sentence for Shahid.

Judge Gonzalez Rogers said she wanted to make an example out of white-collar criminals because she believes federal financial rules appeared to be going in the direction of deregulation of the mortgage industry.

This is a case that dates back over seven years, which was when federal agents raided the Concord headquarters of the Senno family.

Read the original article in the Mercury News. There are also earlier postings in the California Real Estate Fraud Report about this case which you can search and read.

 

 

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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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