California Real Estate Fraud Report

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04
Jan

Monique’s Published Letter to the Editor – Los Angeles Times

Note: the letter is in response to the December 31, 2007 article in the Los Angeles Times regarding the Beverly Hills real estate fraud ring. See the abstract of that article in my blog below.

Victims or accomplices? Re: “How a bank fell victim to loan fraud,” Dec. 31.

This fraud would not have been possible had Lehman Bros. Bank observed proper checks and balances and hired its own appraisers before funding loans for the properties. According to the article, Lehman Bros. also was contacted by two local real estate agents reporting questionable valuations of area homes, yet it chose to ignore the concerns raised.

Ditto for the straw buyer, Kathy Moore of Utah. She sold the use of her identity and credit to help make one of the deals happen; she was no more a victim than Lehman Bros. and was just as greedy as the other players.

Letters to the Editor

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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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