California Real Estate Fraud Report

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Carmel real estate broker arraigned in massive fraud

Joseph O’Meara, 63, a former Carmel real estate broker, has been arrested and arraigned on 32 counts of wire fraud, mail fraud, conspiracy and money laundering, according to U.S. Attorney Joseph P. Russoniello and Monterey County District Attorney Dean D. Flippo.

The indictment charges that O’Meara defrauded his private investors out of $16 million in a golf course development project from 2004 through 2007 that never happened. Known as the Running Horse Golf and Country Club (the Running Horse Development), O’Meara and his business partner solicited Jack Nicklaus’ company, Nicklaus Design, to design the 18-hole golf course, which would have an adjoining 780 new homes constructed. According to the indictment, O’Meara used the commercial loans he had received for his own use and then solicited the private investors for funds to pay for the construction instead of the commercial loans.

Read the full article in 7th Space Interactive.

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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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