California Real Estate Fraud Report

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Bank of America Employee Sentenced for Real Estate Fraud

Venedie Roberto Valencia, 27, a former Bank of America employee, was sentenced to 15 months in federal prison for his part in a mortgage fraud scam that included two co-conspirators and the use of stolen identities.

Valencia, of North Hollywood, was ordered by U.S. District Judge Dale S. Fischer to pay $51,688 in restitution to his victims.

Felix Pichardo, 29, a Lancaster real estate agent whose license was revoked, was previously convicted for submitting fraudulent loan applications (loan fraud) using the stolen identities to AmTrust. The properties that were being purchased were not available for sale.  Latrice Shaunte Borders, 31, of Long Beach was sentenced to two years in prison.

Read the original article in the Los Angeles Daily News.

© 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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