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.


Sacramento Man Gets 18 Years for Ponzi Scheme of Elderly

A 42 year-old Sacramento-area man was sentenced today to a prison term of 18 years after pleading guilty to 13 counts of grand theft.

Most of William Arthur Sassman II’s investors were senior citizens who he apparently targeted using his book “Secrets of a Worry Free Retirement” in a $4.45 million Ponzi scheme that promised high-yield returns from investing in foreclosured properties and other properties in Mare Island (Vallejo) and commercial properties in El Dorado. Sassman, 42, was so greedy that he did little, if any investing, instead using the funds to enjoy a lavish lifestyle that included Ferraris and expensive clothes. He even had relatives gain access to the stolen funds to support his family and put funds in his jail commissary account.

The investigation was conducted jointly by the Department of Justice, with assistance from the California Department of Insurance and the Department of Corporations.

Read the press release by the California Office of the Attorney General.

© Copyright 2007-2017 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.


Copy Protected by Chetan's WP-Copyprotect.