California Real Estate Fraud Report

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Visalia Woman Indicted for Real Estate Fraud, Ponzi Scheme

Obdulia Julie Leon, 44, aka Julie Ochoa, of Visalia, was indicted along with others for stealing more $1.5 million in a make-believe in a real estate investment fraud of Arizona properties that was nothing more than a Ponzi scheme.

Leon has been charged with 18 counts that include conspiracy, mail fraud and wire fraud. Her alleged partner-in-crime is Bonnie Lynn Recinos, 51, aka Bonnie Farr, a Mesa, Arizona resident.

The two women, who worked in the financial services field, solicited funds from the investors and promised 3-5% per month in returns (that should have been the hint that this was fraud!). Instead of investing the money, they used it on themselves and to pay the earlier investors.

Read the original article in the Fresno Bee.

© Copyright 2007-2018 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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