California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. *** AS OF NOVEMBER 2017, THE CALIFORNIA REAL ESTATE FRAUD REPORT IS 10 YEARS OLD! ***

03
Oct

Downey Man Charged with Ponzi Scheme Against Latino Investors

Juan Rangel, 46, the owner of Financial Plus Investments, has been indicted by a federal grand jury of targeting Latinos through Spanish language television, radio and print media to advertise his business that allegedly ripped off the victims for more than $20 million.

Rangel was convicted last year of bribing a bank manager at Bank of America (Dony Gonzalez), a crime for which he could face 95 years in federal prison once he is sentenced. The new charges could add up to 232 years in prison if he is convicted. Rangel is accused of using his investors’ monies to purchase a Lamborghini, a limousine, cocaine and payments his $3 million home in a Ponzi scheme. With some of his victims, Rangel is alleged to have taken title to their homes in foreclosures, removing whatever equity existed and reselling them to straw buyers using fraudulent loan documents.

Dear Feds: start prosecuting the straw buyers.

Read the full article in the Los Angeles Times and the Downey Patriot.

© Copyright 2007-2018 Monique Bryher

Legal Disclaimer.

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.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.

BLOG POWERED BY SHARP BIZ IMAGE

Copy Protected by Chetan's WP-Copyprotect.