California Real Estate Fraud Report

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Mountain View Men Plead Guilty to Defrauding Real Estate Investors

Three men have pleaded guilty in San Francisco federal court to conspiracy to commit wire fraud and mail fraud in a real estate investment fraud scheme.

According to United States Attorney Melinda Haag, Stanley Ward, Edward George Locker, and Richard Ferguson Tipton, confessing that they deceived private money lender Jim Ward & Associates, Inc. and its successor, JSW Financial, Inc. They had promised the investors that they would service loans made to borrowers building single family homes. In addition, the investors were provided documentation that showed that the loans were secured by real estate deeds of trust in the Blue Chip Realty Fund, LLC and Shoreline Investment Fund, LLC, which was not true.

Read the original article in Real Estate Rama.

© 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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