California Real Estate Fraud Report

NOW THE #1 PRIVATE RESOURCE ON GOOGLE FOR REAL ESTATE FRAUD! This blog educates law enforcement and consumers as to real estate crimes being committed in California. Subscribe *for free* to the most comprehensive news source for real estate fraud and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. – Monique Bryher

Archive for the 'Bankruptcy Fraud' Category

“Extreme Greed” says judge to Newport Coast mortgage fraud defendant

April 9th, 2010 at 10:03am

Before imposing his sentence of 5 years on the defendant, U.S. District Court Judge Stephen V. Wilson lectured Lorenzo Espinoza, 43, for having “extreme greed”.

Espinoza pleaded guilty in 2006 to conspiracy to defraud the Department of Housing and Urban Development (HUD) and was ordered to make restitution to HUD of more than $614,000. He also pleaded guilty to bankrupty fraud, money laundering and failing to pay federal taxes for more than ten years. His ill-gotten gains stemmed from the purchases of residential properties using straw buyers and allowing them to go into foreclosure. The bankruptcy fraud occurred when Espinoza did not declare his Rolex watch, his Ferraris or Lamborghini, which he had sold and tried to launder the money for use after the bankruptcy.

Read the full article in the Orange County Register, aka OC Register.

Posted in Bankruptcy Fraud, Mortgage Fraud by: Monique Bryher

Husband and Wife Charged with Mortgage Fraud in San Diego

January 30th, 2009 at 9:10am

A husband and wife were charged  with mortgage fraud, false statements on loan applications, bankruptcy fraud, contempt of court, perjury and money laundering in a recently unsealed federal indictment. The couple, Justine Lorraine Rice, 45, and Wendell Anthony Rice, 45, formerly of Rancho Santa Fe, were arrested in Escondido, according to the U.S. Attorney’s office.

Justine Rice allegedly lied and falsified documents to obtain a mortgage to buy a home in Rancho Santa Fe. When Rice filed for bankruptcy two years later, she arranged for a straw buyer to purchase the home, which was in foreclosure, by falsifying documents. She may have also committed escrow fraud by managing to divert the proceeds to an account controlled by Wendell Rice.

Read the Full Article in the San Diego North County Times.

Posted in Bankruptcy Fraud, Escrow Fraud, Loan Fraud, Mortgage Fraud, Real Estate Crimes by: Monique Bryher

© Copyright 2007-2012 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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