California Real Estate Fraud Report

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26
Mar

Fontana women ran con to buy luxury cars, gamble

The U.S. Attorney’s office has announced sentencing for two Fontana women, who used the proceeds from a mortgage fraud scheme to buy luxury cars for themselves and to cover gambling debts.

US District Judge Florence-Marie Cooper sentenced Angela Cotton, 38, to five years in the federal penitentiary for operating the title company involved in the mortgage fraud conspiracy. Cotton found the properties used in the scheme and then used the credit of straw buyers such as Lisa Lievanos to secure loans and purchase the properties. For her part in the crimes, Lisa Lievanos, 45, received a sentence of a year and a day in prison.

Two others convicted in ripping off the banks were Terral Toole, 42, and Miles Davis, 47, a loan processor formerly from Reseda. Davis was sentenced to three years of probation, including six months of home detention, by Judge Cooper. Toole was sentenced to 85 months in prison by U.S. District Judge John F. Walter.

Both judges ordered restitution to the banks.

Read the original sentencing press release by the U.S. Attorney’s Office and a recent article in the San Bernardino Sun.

© 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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