California Real Estate Fraud Report

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23
Apr

San Diego telemarketer sentenced in real estate investment fraud

San Diego U.S. Attorney Karen P. Hewitt announced that Michael Alexander, who owned several San Diego telemarketing companies involved in a real estate investment fraud scam, was sentenced to serve 30 months in prison after pleading guilty to mail fraud and filing a tax return. Alexander was also ordered by U.S. District Court Judge Roger T. Benitez  to pay restitution of $1,799,580.78 to his victims of the fraud scheme and to the Internal Revenue Service (IRS).

Alexander pleaded guilty two years ago to mail fraud and filing a false tax return using the Rose Fund, LLC to solicit money from investors. He then set up TRF Holdings, Inc., to capitalize the Rose Fund. The lead salesman Alexander hired was a convicted felon named William Wright.

This case was a joint investigation by the Internal Revenue Service Criminal Investigation Division, the U.S. Postal Inspection Service, and the Federal Bureau of Investigation.

Read the Full Article in Webnewswire.com

© 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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