December 16th, 2016 at 12:09pm
Two men have been charged by the Santa Barbara County District Attorney’s Office with allegedly committing real estate fraud that cost Fannie Mae and Freddie Mac at least $500,000.
Angelo Gabriel Naemi, 36, was charged with five counts of grand theft by false pretenses, and one count of conspiracy to commit grand theft. Steven Paul Gonzales, 61, was charged with one count of conspiracy to commit grand theft.
“The complaint alleges that Naemi, a real estate salesperson, and Gonzales, a real estate broker, conspired to falsify documents in association with numerous short sale transactions,” the District Attorney’s Office said. The complaint against both men also includes special allegations for aggravated white collar crime and excessive losses.
Gonzales became sole owner of CornerStone Real Estate in Santa Maria in 2012 while Naemi is listed as a sales associate with the firm which has an office at 411 E. Betteravia Road, Suite 101.
Read the original article on Noozhawk.
December 8th, 2016 at 5:39pm
Patrick Iturra, 46, of Canyon Lake, pleaded guilty to two counts of foreclosure consultant fraud and three counts of felony grand theft, according to Ventura County prosecutors.
Iturra, who operated a business called Mercury Business Group, was accused of promising homeowners he could save their properties from foreclosure if they paid him upfront fees.
In addition to facing a possible jail sentence, Iturra “will be ordered to pay restitution to the victims,” say prosecutors.
Read the original article in the Ventura County Star.
December 6th, 2016 at 8:58am
Sonoma County Superior Court Judge Robert LaForge has ordered Miguel Lopez to serve one year in jail and pay nearly $250,000 in restitution to the more than 80 people he victimized by promising to reduce their mortgage payments in exchange for a fee. Teary eyed victims sat in the courtroom watching it all go down.
Lopez, a Petaluma resident, pleaded no contest to grand theft and embezzlement in October. Sixteen of his victims read their statements in the courtroom and many cried about their suffering and how the long ordeal caused them to lose faith in the legal system.
The $250,000, which Lopez’ defense plans to appeal, will only cover the $1,995 each of the homeowners paid him.
Read the original article in ABC7News.com
December 6th, 2016 at 8:37am
Long Beach resident Karl Robinson, 52, was sentenced to four years in federal prison after pleading guilty in August to one count of bankruptcy fraud.
Prosecutors had accused Robinson of operating a five-year scheme under his own name and companies he created such as “Stay In Your Home Today,” “21st Century Development” and “Genesis Ventures Corporation.” He purportedly brought in close to $3 million from the distressed homeowners who fell for his scam, which included false promises by Robinson that he could save their homes.
As part of the scheme, Robinson filed falsified grant deeds with county recorders and other fake documents in state court eviction proceedings to make it appear that fictional debtors held interests in the distressed properties. In a plea agreement, Robinson admitted that he misused notary stamps of other individuals in order to fake signatures on legal documents (notary fraud) and that he charged distressed homeowners additional fees if they wanted to unwind fake filings.
“This scheme was never about providing assistance to distressed homeowners,” said U.S. Attorney Eileen M. Decker said in a statement. “It was about lying to distressed homeowners and collecting fees based on false promises. This defendant abused the bankruptcy system and stole identities to perpetrate his fraudulent scheme.”
The case against Robinson was prosecuted by Special Assistant United States Attorney Kerry L. Quinn of the Major Frauds Section.
November 11th, 2016 at 12:08pm
Asima Khan, 35, owner of Financial Independent Services is going to spend 12 days in jail and have to pay $60,387 in restitution to her clients, after being prosecuted by Michigan Attorney General Bill Schuette.
Khan violated Michigan law by collecting upfront money for her services, which were mortgage modifications.
“We see this time and time again, good people who have fallen on difficult times are taken advantage of by an individual who sees nothing but dollar signs,” Schuette said in a statement. “I am pleased to see this case resolved, but I will continue to seek justice and restitution for victims of this type of crime.”
Read the original article in the Detroit News.
October 28th, 2016 at 9:37am
The following people have been indicted in relation to an alleged mortgage relief fraud scam that brought in $30 million, according to a press release by the U.S. Attorney’s Office for the Central District of California.
Chatsworth residents Yun Soon Matsuba, aka Dorothy Matsuba, 65; Thomas Matsuba, 64; Jane Matsuba Garcia, 40; Jamie Matsuba, 31; and Koreatown’s Young Park, 53, have each been charged with one count of conspiracy to commit wire fraud, make false statements and commit identity theft.
The indictment alleges, the defendants ran businesses from 2005-2014 called Ownership Management Service LLC and Trust Holding Service LLC.
While they claimed to help homeowners get out from underwater mortgages by performing short sales, the defendants allegedly required the homeowners to deed properties to trusts they controlled, failed to continue making mortgage payments and submitted fraudulent and false short-sale purchase offers to the banks instead of performing the promised short sales.
October 28th, 2016 at 6:14am
Franklin Marquez, 52, has been sentenced to 4 to 12 years in prison for his involvement in a mortgage fraud scheme. He was convicted on one count of pattern of mortgage lending fraud, a category “B” felony.
Marquez and his co-defendants – Maria Lorena Anzu, Jose Ben Rodriguez and Gilberto Navidad , were alleged to have operated a criminal enterprise in Las Vegas called Majestic Group, LLC. Their pitch to distressed homeowners was that they could sell their homes to Majestic Group at market value and then the company would sell their homes back to them at lower, more affordable prices. The victims were charged upfront fees along with monthly payments.
Read the original article in News3LV.
October 21st, 2016 at 6:40am
Moses S. Hall, 60, a resident of Blackwood, New Jersey, has been arrested on federal charges of operating a mortgage modification scheme that defrauded more than 75 distressed homeowners in Orange County. Hall, who formerly had a law practice in Fullerton before he was disbarred in 2012, is being accused of inducing those homeowner to pay him for over $1.4 million in services that he allegedly never provided. The indictment is for 16 counts of fraud and tax offenses.
Among other claims, the indictment alleges Hall concealed from victims that he was using their money to pay for personal expenses and that he was a previously convicted felon who had served time in state prison in New Jersey prior to being admitted as an attorney in California. He told homeowners in distress to cease making their monthly mortgage payments and instead send the money to him for the purpose of negotiating with lenders. Some later lost their homes to foreclosure.
The charges stem from a probe by IRS Criminal Investigation, U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI), and the U.S. Secret Service. The Office of Chief Trial Counsel for the State Bar of California also provided assistance with the investigation. The case is being prosecuted by Assistant U.S. Attorney Charles E. Pell.
Read the press release on the U.S. Immigration and Customs Enforcement website and the OC Register.
October 13th, 2016 at 9:32am
Nancy Russell Kempis, 64, of Santa Clara, has been sentenced for more than six-months in jail for scamming a family out of their home and defrauding four banks.
The former real estate agent convinced the family to sell her their home at a “dramatically reduced price” in order to avoid foreclosure. She rented them the home and promised to return it. Instead, she secured a number of fraudulent mortgages, sucking all the equity out of the house and defaulting between 2006 and 2009. The home was then lost to foreclosure and the family evicted.
Kempis’ scam cost lenders $750,000.
Kempis eventually fled to New York, went into hiding under the false name Morpheus Daw Pud Ko and helped run a women’s ministry.
“Ms. Kempis scammed hundreds of thousands of dollars and drove a family into homelessness,” Santa Clara County Deputy District Attorney Charles Huang said in a statement.
Read the original article in KRON4.com
September 30th, 2016 at 7:46am
Victims of a Petaluma real estate agent whom prosecutors ripping off at least 100 persons in the Bay Area in an alleged mortgage fraud scam are outraged at the terms of his settlement with state prosecutors.
Miguel Angel Lopez-Soleta, 44, pleaded no contest to felony grand theft and embezzlement from an elderly person through his Rohnert Park business, Mortgage Modifiers, in 2012.
Lopez-Soleta will only serve one year in jail and receive five years of probation.
According to former client Robert Gillis, whose mother lost her Novato home to foreclosure because of Lopez-Soleta, “It’s totally unacceptable. None of the victims agree with it. They are so upset.”
Caroline S. Chen, the deputy attorney general handling the case for Attorney General Kamala D. Harris, did not return a call Thursday seeking comment.
The only good bit of news is that the real estate license of Miguel Angel Lopez-Soleta has been revoked by the California Bureau of Real Estate.
Read the full article in the Press Democrat.