California Real Estate Fraud Report

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Anthony Symmes Sentenced to Prison for Real Estate Fraud

Tony Symmes, 61, once one of the largest home building operators in Chico, has been sentenced to 2 years 11 months in prison for conspiring to commit fraud and for money laundering. He must also pay restitution of$4 million dollars.

Symmes conspired with Garret G. Gililland III and other defendants to sell 62 homes to Gililland’s straw buyers for inflated prices (appraisal fraud) between 2006 and 2008. After escrow closed, the overage was returned to Gililland’s storefront companies and disbursed among the defendants. Of course, the lenders who financed the loans were unaware of this real estate fraud scheme.

Garret G. Gililland III, Shane Burreson, William Baker, Niche S. Fortune and others have already pleaded guilty for their roles in defrauding the lenders (loan fraud, mortgage fraud).  Kesha Danine Fortune Haynie, who is Niche Fortune’s sister did not plead out and was convicted of mail fraud in March 2012.

The investigation and prosecution were a cooperative effort by the FBI, IRS Criminal Investigation Division and the Butte County District Attorney’s Office.

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© 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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