California Real Estate Fraud Report

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Two Plead Guilty to Sacramento-Area Mortgage Fraud

A man and a woman have pleaded guilty after being charged in 2010 with participating in a mortgage fraud ring that caused losses to the lenders of $5 million.

Ronald Burris Jr., 38, of Elk Grove, admitted he purchased three homes by submitting fraudulent loan applications (loan fraud, mortgage fraud) and that he received $75,000 for his efforts as a straw buyer after the sales closed.

Nicole Dawson, 41, of Oakland, confessed to doing the same with two homes and receiving $64,000 after close of escrow.

Burris and Dawson were charged along with eight other people to purchase 30 homes using 100% financing in 2006 and 2007. According to the Central Valley Business Times, the conspiracy also involves Liberty Real Estate and Investment Company and Liberty Mortgage Company, which are owned by Hoda Samuel, another defendant. Twenty-eight of the homes have since been foreclosed.

Samuel’s real estate license is in good standing with the California Department of Real Estate.

Read the original article in the Central Valley Business Times.

© 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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