California Real Estate Fraud Report

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Corona Trio Convicted of Fraud against Seniors

A Corona, California jury returned hundreds of guilty verdicts today against three men for running a $190-million investment scheme that defrauded the elderly of their life’s savings. According to prosecutors, the men ran their investment scam from offices located in Los Angeles, Orange and Riverside Counties. The victims numbered approximately 1,600 over the 10-year period the fraudsters were in operation.

Daniel W. Heath, 51, President of Daniel W. Heath & Associates, his 81-year-old father and a former business associate were convicted on all but one of the 400 charges of fraud, money laundering and other crimes. Heath Jr. could face up to 100 years in prison at his upcoming sentencing hearing in March. Papa John Heath and friend Denis T. O’Brien, 53, could face up to 30 years in prison each when they are sentenced next month.

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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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