California Real Estate Fraud Report

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Sherman Oaks Siblings Surrender in Loan Fraud

Local residents and siblings Monica Elizabeth Frommer and Peter Jerald Frommer have surrendered to federal authorities in a $14 million loan fraud case. Ms. Frommer, 33, received an indictment on 12 charges by a federal grand jury while her brother, Peter Jerald Frommer, 35, surrendered for federal fraud and tax charges.

The charges against the Frommers are unrelated. Monica Frommer’s indictment originated from the roughly $2 million she received by filing “at least six fraudulent mortgage loan applications to National City Bank and Washington Mutual Bank”, according to the Department of Justice.

Her brother Peter Frommer pleaded guilty in a Ponzi scheme in which he is said to have raised at least $12 million from his victims. He is awaiting sentencing in March 2011 by US District Judge George H. Wu and could receive 33 years in federal prison.

You can search for an earlier article on Monica Frommer in the California Real Estate Fraud Report.

Read the full story in the Canyon News.

© 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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