California Real Estate Fraud Report

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24
Feb

San Bernardino Man Sentenced to 12 Years for Foreclosure Fraud

John Zepeda, 60, who pleaded guilty in 2011 rent skimming, forgery, identity theft and conspiracy to commit grand theft, has been sentenced to 12 years in prison and ordered to pay $6 million in restitution. His brother David Zepeda, 59, has been charged in a related case, along with Carlos M. Torres and Patricia Torres.

John Zepeda held seminars for people in foreclosure and convinced them to transfer title or quitclaim their properties to him so that he could save their homes from foreclosure. Sometimes he just forged the quitclaim deed (title fraud). He took money upfront for his so-called services (loan modification fraud, foreclosure fraud) and victimized people from Los Angeles to San Diego. After illegally acquiring the properties, Zepeda then rented them out (rent skimming) and used the proceeds to enjoy the finer things in life.

Read the original article in 10News.com.

 

 

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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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