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.


Straw Buyer Sentenced in Mortgage Fraud

Straw buyers are integral players in mortgage fraud. Criminals who devise schemes are dependent on the straw buyer to “rent” his or her good credit, in exchange for what is no less than a bribe, in order to defaud lenders.

It is unfortunate that the justice system in most cases looks at straw buyers as non-essential players and often trades their testimony for no jail time in order to catch the operators of the schemes. This has certainly been true in California.

A case in Alabama highlights that it is possible to get critical testimony from straw buyers and still make them pay for their crimes. Rodger A. Gulledge testified against his ex-wife Melissa Gulledge and ringleader Lance A. Collins in a sophisticated mortgage fraud case in which the participants defrauded banks and the retirees who unwittingly invested in their scheme (elder financial abuse, real estate investment fraud). Collins pleaded guilty, and for his testimony, Rodger Gulledge received a sentence of one year and 10 months.

It’s time for prosecutors in California to treat straw buyers with the same seriousness as their colleagues in Alabama.

Read the original article in

© 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.