California Real Estate Fraud Report

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Archive for the 'Mortgage Rescue Scams' Category

Brea Man Sentenced by Federal Judge to Long Prison Time for Multi-Million Dollar Mortgage Modification Scam

April 14th, 2017 at 9:41am

Despite the pleas of high-powered defense attorney Manny Medrano for an 18-month sentence, Bryan D’Antonio was sentenced to over eight years in prison for a operating a mortgage modification scam.

In imposing the sentence, U.S. District Judge David O. Carter ordered D’Antonio to not only serve 97 months in prison, but also 12 months in a halfway house, three years of supervised probation and to restitution of $3.8 million. Judge Carter noted that D’Antonio was still on supervised release after a four-year conviction for a previous medical-billing scheme.

Bryan D’Antonio was the owner and operator of Rodis Law Group and agreed last year to plead guilty to defrauding more than 1,500 people out of $9 million.

Although D’Antonio apologized to the court, Assistant U.S. Attorney Joseph McNally characterized Rodis Law Group as a boiler room, telemarketer operation that lured desperate homeowners by advertising a non-existent team of attorney who would help the homeowners renegotiate their interest rates and principal balances.

Co-defendants Charles Wayne Farris of Aliso Viejo and Ronald Rodis of Irvine have, like D’Antonio, pleaded guilty to felony conspiracy to commit mail and wire-fraud charges and have yet to be sentenced.

Read the original article in the Orange County Register.

“Assistant Coach Bandit” Pleads Guilty in Loan Modification Scam

March 30th, 2017 at 3:01pm

Huntington Beach resident James Allen Ramsdell, called the “Assistant Coach Bandit” by the FBI for robbing banks in Southern California, has pleaded guilty to defrauding people who sought loan modifications.

In 2009, Ramsdell, 51, received a three-year sentence in federal prison for robbing banks in Anaheim, Costa Mesa, Huntington Beach and San Diego County.

A youth coach as well as a sub-prime mortgage broker, Ramsdell now faces 6 months in county jail following his guilty plea to eight felony counts including grand theft and a sentencing enhancement for his prior bank robbery conviction. There were six victims, from which he took $40,000 for illegally charging upfront/advance fees for loan modification services he did not perform.

Read the original article in the Orange County Register.

 

Attorney Stephen Siringoringo Sentenced in San Bernardino Loan Modification Scam

March 2nd, 2017 at 10:36am

Stephen Siringoringo, a Westminster attorney who targeted poor and Spanish-language victims in San Bernardino County in a loan modification fraud scheme, is going to prison for seven years and ordered to pay $108,000 in restitution.

Siringoringo, 35, who was disbarred in March 2015, pleaded guilty to to grand theft and money laundering for his role in the $44 million scam. He found his victims by advertising on radio and television and gaining their trust for his “mortgage relief” services by telling them he was an attorney.

San Bernardino County District Attorney officials said in the news release, “Siringoringo, in particular, preyed on the victims by using his position as an attorney to gain their trust and charge large unlawful upfront fees and monthly payments. Most of the victims never received any loan modification, and many who had lost their money with Siringoringo, Cobb and Clausen sought assistance through other means.”

The investigation was conducted by the San Bernardino County District Attorney’s Office-Bureau Real Estate Fraud Unit. In addition to his conviction, Stephen Siringoringo was ordered by the Consumer Financial Protection Bureau (CFPB) to provide $20,825,000 in restitution to victims outside of the county.

Read the original article in 24/7 and Highland News.

 

Ventura Resident to Jail for Foreclosure Consultant Fraud

March 2nd, 2017 at 10:18am

Patrick Iturra, who was a partner in a firm called Mercury Business Group, has been sentenced to one year in jail after he was convicted of five counts of foreclosure consultant fraud and grand theft.

Mercury Business Group claimed to help homeowners who were having trouble paying their mortgages. According to prosecutors, there were eight documented victims, seven of whom lost their homes to foreclosure.

Read the original article in KCLU.

Owner of Global Home Investments Pleads Guilty in Foreclosure Scam Prosecution

January 20th, 2017 at 11:13am

Fontana resident Jose Armando Rodriguez, 57,  has pleaded guilty to grand theft, foreclosure consultant fraud and recording a false instrument.

Rodriguez, the owner and operator of Global Home Investments, told his five victims that he would save their homes from foreclosure, according to Senior Deputy District Attorney Tony Wold of the Ventura County District Attorney’s Office. Wold said that from 2010 to 2012 Rodriguez stole thousands of dollars from the victims, all located in the Oxnard area, but he never helped them.

When the victims later tried to short sell their homes, they found out that Rodriguez also filed false trust deeds and assignments of rent on their homes, all of which were lost to foreclosure.

Read the original article in the Ventura County Star.

 

Operator of Mercury Business Group Pleads Guilty in Foreclosure Consultant Fraud Case

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.

 

Petaluma Man Sentenced for Mortgage Modification Scam in Front of His Victims

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

 

Long Beach Man Sentenced for “Stay In Your Home Today” Mortgage Fraud

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.

Roseville Woman Prosecuted by Michigan AG for Mortgage Fraud

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.

4 Chatsworth residents charged in alleged $30 million mortgage relief fraud and short sale fraud scheme

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.

 

© 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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