California Real Estate Fraud Report

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San Martino Man Sentenced to 10 Years for Mortgage Fraud

Scott Dority, 54, a San Marino man who pleaded guilty in March 2011 to stealing $9 million from lenders by using straw buyers to purchase properties with falsified loan documents (loan fraud, mortgage fraud), has been sentenced to 121 months in federal prison. Dority used much of us ill-gotten gains to buy houses and splurge on Ferraris and Lamborghinis.

United States District Judge R. Gary Klausner imposed the sentence after Dority pleaded guilty wire fraud, conspiracy, aggravated identity theft and two counts of tax evasion. He was also required to allocute that the fraud he perpetrated resulted at least $4 million in losses to mortgage lending institutions (mortgage fraud) and $5 million to lenders who specialized in loans for cars (Ferrari fraud?).

The Scott Dority case was investigated jointly by the FBI, the IRS – Criminal Investigation Division (IRS-CID) and the United States Secret Service.

Read the original article in the Pasadena Star News.

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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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