California Real Estate Fraud Report

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20
May

Visalia Man Pleads Guilty in Real Estate Fraud Case

Jesse Alvin Cripps Sr., 57, a financial adviser based in Visalia, has pleaded guilty to 15 counts of mail fraud and two counts of money laundering.

According the U.S. Attorney’s Office, Cripps defrauded investors by promising them dividends of 10%-12% per month by investing their money in REITs (real estate investment trusts. Instead, he diverted the money for his personal use, causing losses of approximately $2 million.

Read the original article in the Fresno Bee.

© Copyright 2007-2017 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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