California Real Estate Fraud Report

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Redding Man Pleads Guilty to Real Estate Investment Fraud

Robert Rosenau, a Redding-area man who ran  Rosenau Investments Inc., pleaded guilty in Sacramento federal court  to one count of mail fraud.

Rosenau Investments Inc., was a hard money lender that made short-term loans for the purpose of rehabbing residential real estate. It pooled money from its investors using the properties as collateral and told the investors that it had a first-position lien on the properties. According to prosecutors, Rosenau Investments did not always have liens on the properties and in some cases was soliciting money from the investors on properties it had already foreclosed on due to the borrower failing to make loan obligations (hard money loan fraud). One of the loans was even for a property Robert Rosenau owned through another company and which was highly over-leveraged. None of these facts was disclosed to the investors (real estate investment fraud).

U.S. District Judge William B. Shubb will be sentencing Robert Rosenau in December.

Read the original article in the Sacramento Bee.

© 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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