California Real Estate Fraud Report

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Two Southland Men Will Get Prison for Defrauding Banks, Investors

Henrik Sardariani, 44, a Glendale resident accused of scamming banks and individuals out of millions in a loan fraud scheme, was sentenced to 10 years in federal prison. His co-conspirator and brother Hamlet Sardariani, 42, of Sylmar, will be sentenced next month for the same crimes.

Both brothers pleaded guilty to felony counts of wire fraud, conspiracy and money laundering in the court of U.S. District Judge Virginia Phillips, who ordered Henrik Sardariani to pay $5.4 million in restitution to his victims, along with a $100,000 fine.

Assistant U.S. Attorney Ranee Katzenstein termed the con “sophisticated and complex” and involved Henrik Sardariani creating phony government documents and fraudulent real estate documents that he authenticated by cutting and pasting notarizations (notary fraud). Sardariani secured his loans – which he admitted he had no intention of repaying – using his homes on Paseo Redondo in Burbank and on Maginn Drive in Glendale as collateral.

Wanda Tenney, an escrow officer, helped Sardariani avoid paying one of his loans back by helping him wire almost $2 million to a Hong Kong account (escrow fraud). Tenney pleaded guilty to conspiring to launder money and will be sentenced in October.

You can find an earlier article about the prosecution of Henrik Sardariani and Hamlet Sardariani by using the search window on the left-side or clicking on this link of the California Real Estate Fraud Report.

Read the original article for this post on the Glendale News Press.

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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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