California Real Estate Fraud Report

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Woman Who Ran Foreclosure Rescue Scam Ordered to Pay Restitution

A Gonzalez-area woman who admitted operating a Ponzi scheme has been sentenced to three years in prison, but the sentence was stayed by the judge if she completes restitution.

Maria Ponce was sentenced by Judge Adrienne Grover but the judge’s priority is to seek repayment of the stolen funds for the victims, mostly Latinos.

Ponce admitted that her scheme caused $145,000 in losses from 57 people who were in foreclosure. Many of the victims testified to the court as to the devastation caused by Ponce’s loan modification scam, which required upfront fees.

Prosecutors contended that Maria Ponce was very sophisticated and knew exactly what she was doing when she solicited her victims.

Read the original article in the Contra Costa Times.

© 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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