California Real Estate Fraud Report

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30
Dec

FBI Agent Goes to Prison for Mortgage Fraud

A man who came from a poor family and rose to serve with the Los Angeles Police Department and then the FBI has seen all his hard work crumble.

Darin McAllister, a church-going, Bible-clutching law enforcement officer, has been sentenced to four years in prison for lying on his loan applications (loan fraud, mortgage fraud).

After the FBI transferred him to Nashville, McAllister and his wife used the profit from selling their Los Angeles home to purchase a new one and to purchase, rehabilitate and rent out duplexes. When the real estate market began its descent, the McAllisters lost tenants and fell behind in the loan payments for the properties. That’s when bank examiners took a closer look at the loan applications he had signed and contacted the FBI as well as the Office of the Inspector General for the Justice Department which charged him with 19 counts of wire fraud, false declarations and other crimes.

Read the original story (a fascinating one) in the Los Angeles Times.

© 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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