California Real Estate Fraud Report

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Hunt Underway for Sacramento Man Indicted for Mortgage Fraud

A nationwide manhunt is being conducted for a Chico man who was indicted by a federal grand jury in August for making false statements on loan applications  and engaging in a monetary transaction with cash derived from an unlawful activity.

Garret Griffith Gililland III, described in the indictment as “an unlicensed mortgage broker” has ties to Loomis Wealth Solutions, a Roseville-based company that holds itself out as a financial planner and claims that is (paid-)subscriber members cash flow on properties purchased in 2008.

The Web site has postings by Loomis members who claim otherwise.

Read the Full Article in the Sacramento Bee to learn why the Internal Revenue Service and FBI agents raided Loomis’ Roseville last month.

© 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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