California Real Estate Fraud Report

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17
Feb

San Diego Men Indicted for Family Loan Fraud

Two San Diego men have been indicted by the U.S. Attorney in San Diego for conspiracy, wire fraud, mail fraud, and money laundering in a complex, family-style mortgage fraud case.

U.S. Attorney  Laura E. Duffy made the announcement that Simon Saed Alizadeh and Kian Ashkanizadeh have been arraigned on the above charges with respect to two pricey homes on Triton Street in Carlsbad. Ashkanizadeh  was working with a restricted license from the California Department of Real Estate and Alizadeh does not appear to be licensed with the DRE.

The indictment charges Alizadeh and Ashkanizadeh with recruiting friends and family as straw buyers to sign loan applications and documents as supposed buyers for the expensive home, which they had no intention of purchasing (loan fraud). Alizadeh and Ashkanizadeh invented income and assets for their relatives and then added phony consulting fees and contractor costs, all of which they took for themselves once the loans were approved.

The press release by the FBI does not reveal how it was the two men were caught.

© 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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