California Real Estate Fraud Report

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08
Jan

Laguna Beach father and son charged with appraisal fraud

A father and son team of appraisers who worked closely with subprime lender Quick Loan Funding in Costa Mesa have been charged with appraisal fraud by the Orange County District Attorney’s Office. the California Office of Real Estate Appraisers also participated in the investigation.

Landmark Equities Group owner James Meritt Eaton, 60, and his son Brian Changler Eaton, 28, have been charge with more than 20 felony counts of grand theft, conspiracy and fraud. The two men, along with their associate Michael John Bell, are accused of overstating the prices of properties they appraised for Quick Loan Funding, where they had an office. Shockingly, Eaton Sr. is alleged to have gone so far as to fly to his branch office in Dublin, California, where he personally fired an employee for refusing to give him the passwords of other employees so that he could access and change the values of appraisals those employees had performed.

Read the Full Article in the Orange County Register.

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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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