California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud.


Prison Time for Roseville Man in Ponzi Scheme

Barry Winnett, 49, the man who operated Countour Escrow Services for co-conspirator Royce Newcomb, has been sentenced to prison for three years and two months.

Winnett, who is unlicensed and therefore ran an illegal escrow company (escrow fraud), was convicted of wire fraud for his role in Newcomb’s Ponzi scheme. Newcomb solicited money from investors to purchase foreclosed homes but in reality laundered the money through Contour Escrow Services and returned portions of it to earlier investors (real estate fraud). The sum lost to the 22 investors was nearly $3 million.

Newcomb began serving a five year two month sentence in fall 2011.

You can find earlier posts about Royce Newcomb and Barry Winnett by searching this blog.

Read the original article in the Roseville Press Tribune.

© Copyright 2007-2017 Monique Bryher

Legal Disclaimer.

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.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.


Copy Protected by Chetan's WP-Copyprotect.