California Real Estate Fraud Report

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11
Jul

Real Estate Fraud Ring in Solano County Arrested

In a case investigated jointly by the FBI, IRS and the California Department of Real Estate that was part of the nationwide “Operation Malicious Mortgage”, 6 individuals have been charged with “mail fraud, making false statements to a financial institution and with engaging in monetary transactions involving more than $10,000 in criminally derived property. ”

The defendants purchased 13 properties in Solano County in 2006 at prices considerably higher than their true value and then used the difference to either pay mortgages on the houses or pocketed it. All the properties are now in foreclosure.

Read the Full Article in The Reporter (Vacaville)

© 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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