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.

28
Jan

Attorney and Wife Convicted of Elaborate Real Estate Fraud in Fresno

A Fresno attorney, his wife and a third person have been convicted in a scheme that covered multiple areas of real estate fraud: title fraud, escrow fraud and use of straw buyers to commit mortgage fraud.

In a joint announcement, U.S. Attorney José Angel Moreno, FBI Special Agent in Charge Richard C. Powers and Internal Revenue Service-Criminal Investigations Special Agent in Charge Rodney E. Clarke, said that a jury in U.S. District Judge Sim Lake’s Courtroom found Vincent Wallace Aldridge, Tori Elyse Aldridge and Gilbert Barry Isgar guilty of multiple charges of wire fraud and money laundering.

Vincent Aldridge is a former fee attorney for First Southwestern Title Company and attorney for Aldridge and Associates. Tori Elyse Aldridge worked for First Southwestern Title Company and Gilbert Barry Isgar, a co-owner of Waterford Homes.

The sophisticated real estate fraud began with Isgar inflating the prices of the homes he was selling and Vincent Aldridge recruiting straw buyers for a so-called property investments. He submitted false loan applications to lenders and promised $10,000 to the straw buyers for the use of their credit after escrow closed on the homes. Both Aldridges controlled First Southwestern Title, which they used to fabricate additional attorney’s fee and contractor work (on new homes!) as part of an agreement between themselves and Gilbert Isgar. They then laundered the money to Aldridge’s law firm. None of the illegal proceeds were reported on the HUD Settlement Statements, so lenders were unaware of them.

Read the full article in Fort Bend Now.

© 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.

BLOG POWERED BY SHARP BIZ IMAGE

Copy Protected by Chetan's WP-Copyprotect.