California Real Estate Fraud Report

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Mother-Son Team Arrested for Real Estate Securities Fraud in San Luis Obispo

After a six-month investigation, local prosecutors have charged Karen guth and her son Joshua Yaguda of Estate Financial with 26 felony counts of fraud. The investigation included agents from the FBI, the Internal Revenue Service, the San Luis Obispo County District Attorney’s Office, the California State Department of Corporations and the California Department of Real Estate.

Estate Financial was a hard-money lender that solicited money from investors to make high-interest/high-risk loans to developers. At the time of the company’s collapse, it is reported that they had funded hundreds of millions in housing and condominium subdivisions, hotels and winery developments in San Luis Obispo County. Their war chest of $340 million real estate portfolio was built with money from more than 3,000 investors, almost 30% of whom lived locally.

Read the Full Article in The San Luis Obispo Tribune.

© Copyright 2007-2018 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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