California Real Estate Fraud Report

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Multiple aliases allegedly used in Sacramento area to commit mortgage fraud

Five men in the Sacramento area have been indicted by a federal grand jury on multiple counts of mail fraud as a part of a mortgage fraud scam they allegedly ran. In a blast of creativity, the five changed their names to Muslim names for the purposes of obtaining fresh credit and to conceal from lenders their bad credit in their given names. The accused used their Muslim names to purchase homes and then changed their names again once the properties went into foreclosure.

Glenn Watkins, 40, aka Rasheed Khaleb, aka Jason Johnson; Kevin Watkins, 25, aka Jamal Ali, aka Calvin Carter; Frederick Davis, 40, aka Ammar Rashad, Corey Green; and Paul Yearby Jr., 29, aka Malcom Ali. , Jake Weathers, 34. The “mastermind” (probably an overstatement) Jake Weathers, 34, ran an unlicensed mortgage brokerage called Weathers & Associates and concocted the scheme so that he could receive loan commissions and other fees from sellers outside of escrow.

Read the full article in the Sacramento Business Journal.

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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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