California Real Estate Fraud Report

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Paso Robles Brokers Charged with Real Estate Investment Fraud

Paso Robles lenders Rod Jarmin and Tammy Jordan have been charged with seven counts of embezzlement and fraud in a real estate investment fraud scheme that may have cost the investors $30 million.

Jarmin and Jordan, both licensed real estate brokers, operated Real Property Lenders (RPL) in Paso Robles and allegedly solicited investors – many of them seniors (elder financial fraud) to purchase securities for projects that the RPL owners knew were in danger of failing.  Rod Jarmin’ s real estate license was revoked in 2003 but reinstated in 2007. Tammy Jordan‘s license shows no disciplinary action.

The California Department of Corporations (DOC) began investigating RPL in 2007 and revoked its license to sell securities in June 2008. Following the DOC action, the San Luis Obispo County District Attorney’s office initiated its own inquiry into RPL after it received complaints about the firm’s practices.

Read the original article in the Cal Coast News.

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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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