California Real Estate Fraud Report

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Slaps on the Wrist in Tulare Real Estate Fraud

Two women in the Tulare area received what I think were light sentences for conspiring with straw buyers to submit fraudulent loan applications to purchase homes.

Alma Reyes, 41, of Porterville was the purported ringleader, recruiting other crooked real estate agents. She received a two-year sentence after being convicted of 14 felony counts of conspiracy, grand theft, forgery and falsifying loan documents.

Reyes’ partner in crime, Nelda Garcia, 48, served 210 days in County mail, was put on probation for 11 years and is banned from working in the real estate industry. She was convicted of the same charges and also notary fraud.

One couple who acted as straw buyers was able to purchase two homes within five years worth $1.1 million, even though their monthly income was only $3,000.

When are authorities going to get serious and start prosecuting straw buyers? They are no less culpable and there is no deterrent to others considering acting as straw buyers as long as there is no punishment.

Read the original article in the Visalia Times.

© 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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