California Real Estate Fraud Report

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Former Countrywide Home Loans employee pleads not guilty in conspiracy case

Joseph John Pugliese has been indicted for conspiracy to commit mail fraud along with 17 other individuals who were real estate agents, loan officers or bank employees. He has pleaded not guilty and could be sentenced to 30 years in prison and receive a $1 million fine if he is convicted.


According to federal prosecutor Jeffrey Rabkin, “Pugliese, together with others, fraudulently inflated the creditworthiness of the borrowers by falsifying personal and financial information that was material to the mortgage lenders in making their lending decisions.” Rabkin states further that Pugliese”who was at the time an area manager of Countrywide Home Loans, Inc. – regularly purchased forged and falsified documents such as W-2 statements and bank records that were then used to support false and inflated information listed in the borrowers’ loan applications.”


Countrywide Home Loans was a major subprime lender that was absorbed by Bank of America.


Read the full article in the Marin Independent Journal.

© 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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