California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. *** AS OF NOVEMBER 2017, THE CALIFORNIA REAL ESTATE FRAUD REPORT IS 10 YEARS OLD! ***


President of Real Estate Investment Club Pleads Guilty to Ponzi Scheme

The president of a real estate investment “club” that took in $2.2 million from investors has pleaded guilty to running a Ponzi scheme.

Garry Bradford, 62, ran the  Millenium Capital Group in the Sacramento area between 2004 and 2008, purportedly to invest in commercial real estate. He admitted that the money he took in from investors was used to repay earlier investors. Many of the victims had pulled equity from their homes or cashed in their retirement plans in order to invest with Bradford, who promised 18% returns.

The case was prosecuted by the office of U.S. Attorney Benjamin Wagner and heard by U.S. District Judge Garland Burrell Jr.

Bradford could receive 20 years for each of the four counts of federal wire fraud for which he pleaded guilty and a $250,000 fine.

Read the original article in the Sacramento Bee.

© Copyright 2007-2018 Monique Bryher

Legal Disclaimer.

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.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.


Copy Protected by Chetan's WP-Copyprotect.