California Real Estate Fraud Report

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20
May

Irvine Attorney Convicted in Mortgage Fraud

A federal jury deliberated for only an hour before finding an Irvine attorney guilty in a mortgage fraud scheme that cost lenders $2 million.

Gerald L. Wolfe, 41, is an attorney who also was a real estate broker until he surrendered his license in 2009. He was convicted on one count of conspiracy to commit wire fraud. Wolfe and his co-conspirators, Andrew and William Bohuslavizki, used straw buyers to purchase 15 distressed or foreclosed homes in Orange County. The mortgage fraud was due to not only to not only falsifying the loan applications of the straw buyers (loan fraud) but getting inflated appraisals as well.

The Bohuslavizkis pleaded guilty to the same charge and are awaiting sentencing.

Read the original article in the OC Register (Orange County Register).

© 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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