California Real Estate Fraud Report

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Three Elk Grove Brothers Plead Guilty to Mortgage Fraud

U.S. Attorney Benjamin B. Wagner announced that brothers Ali Khalil, 32, Amanullah Khalil, 39, and Wahidullah Khalil, 27, have all pleaded guilty to various financial crimes related to mortgage fraud.

Ironically (or not), Ali Khalil was formerly a police officer in Elk Grove and earned a bachelor’s degree in criminal justice. He pleaded guilty to wire fraud and structuring financial transactions to evade currency transaction reporting requirements (the $10,000 limit that triggers reporting requirements.

Amanullah Khalil  pleaded guilty to making false statements on a loan application (loan fraud, mortgage fraud).

Wahidullah Khalil was previously in banking and holds a bachelor degree in criminal justice. He pleaded guilty to structuring financial transactions to evade currency transaction reporting requirements, like Ali did.

Apparently all three defendants embarked on parallel paths of loan fraud and mortgage fraud in order to obtain loans. Each submitted loan applications with false information in order to each purchase or refinance homes. Each took the proceeds and made deposits of less than $10,000 on consecutive days in order to evade the bank reporting requirements. And each got caught.

U.S. District Judge Garland E. Burrell will pronounce their sentences in November.

Read the original article in the Sacramento Bee.

© 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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