California Real Estate Fraud Report

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Van Nuys Man Gets 8 Months for Foreclosure Fraud

A Van Nuys man who, along with two alleged co-conspirators, carried on a foreclosure fraud that ripped off victims for $1,500 per month, lucked out with the sentencing judge.

Although he wasn’t too old or too sick to commit his crimes, 75-year old Darwin Bowman caught the sympathy of U.S. District Judge Stephen V. Wilson, who sentenced him to four months in a halfway house and four months in home confinement, followed by three years under supervised release.”

According to prosecutor Assistant U.S. Attorney Evan J. Davis, Darwin and his co-defendants Irving Cohen and Robin Phillips cooked up a scheme to delay foreclosures on $725 million worth of mortgages by filing bankruptcies on behalf of homeowners who had defaulted on their loans. They did this by having the homeowners sign a grant deed for 1/8 interest in their home to a non-existent party. Then they filed the bankruptcy

After collecting the first fee installment, the defendants had the property owner sign a deed that granted a one-eighth interest in the home to a fictitious person. They would then file a bankruptcy, supposedly without the knowledge of the homeowner.

Read the original article in the Daily 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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