A real estate broker and a senior executive at a real estate investment company have been indicted wire and mail fraud conspiracy, wire fraud, mail fraud, aggravated identity theft and criminal forfeiture in connection with a multi-million dollar mortgage fraud scheme.
According to a press release by the U.S. Attorney’s Office for the Southern District of California, Peter Cash Doye, a senior executive at the real estate investment firm known both as Conix and Variant Commercial Real Estate, and Raquel Reid, a licensed real estate broker and notary public, allegedly conned lenders into providing loans for four multi-million dollar mansions in La Jolla and Del Mar.
Court documents indicated that Doye and Reid used numerous forged documents to trick the lenders into believing the loans had been paid off in order to obtain new loans against the properties.
Co-defendants Courtland Gettel, and an Arizona attorney, Jeffrey Greenberg, previously pleaded guilty to their roles in the scheme.
The mansions had been represented to the lenders as rental and investment properties but were lived in by Doye and Gettel and their families.
Read the original article in HousingWire.