California Real Estate Fraud Report

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Antioch Family Investigated in Real Estate Fraud

The brother of an Antioch man who has been arrested and charged with stealing from fellow Latinos in the San Francisco area has also been charged in the same case.
Edwin Parada, who worked simultaneously as a real estate agent, restaurant owner and Spanish language radio host, was arrested first, in 2008. Now his brother Carlos Parada has been arrested and is facing multiple counts of conspiracy, grand theft, money laundering and elder abuse. Carlos’ daughter Karla is also a subject of the investigation, according to and article in
Authorities believe the Paradas collectively may be involved with taking as much as $2.2 million from 31 people, the latest being an elderly woman who sought a loan from Carlos, also a real estate agent and pastor, to help pay her husband’s funeral expenses. Instead, authorities allege that Carlos diverted some of the money out of escrow from the refinancing of the woman’s home (escrow fraud).
Note: I could find no indication that either Carlos Parada or Edwin Parada hold a real estate license in California. Karla Parada does have a real estate license.

© 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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