California Real Estate Fraud Report

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Defrocked Mortgage Broker Connected toTwo Prosecutions

Scott Stober, a Nevada County mortgage broker whose California real estate broker’s license was revoked by the DRE in 2010, is now a subject in two prosecutions involving hard money loans.

Stober procured investors Richard and Minta Cramer for Robert St. Germain’s Granite Hill Court project. A civil suit by the Cramers against St. Germain and Stober alleges that Stober knew that the project was underfunded and that contractors and subcontractors were not paid. In addition, the Nevada County District Attorney’s Office has refiled a previous charge of misappropriating funds against Robert St. Germain.

In a second hard money loan case, Scott Stober was the broker who found investors for Leo Wheeler, a contractor who has been charged in a federal fraud case in Lake County. Investors for Wheeler’s residential development project claim $1.5 million in losses.

No criminal charges have been filed against Scott Stober to date.

Read the original article in the Union of Grass Valley.

© Copyright 2007-2018 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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