California Real Estate Fraud Report

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20
Sep

Three from San Gabriel Valley Charged in Loan Modification Fraud

Eleven defendants have been indicted for allegedly running a loan modification fraud that prosecutors say brought in $7 million from the homeowner-victims.

  • Iris Melissa Pelayo, 42, of Upland
  • Michael Lewis Parker, 34, of Pomona
  • Catalina Deleon, 35, of Glendora
  • Hamid and Reza Shalviri, 50, Montebello
  • Albert DiRoberto, 59, of Fullerton
  • Crystal Taiwana Buck, 37, of Long Beach
  • Christopher Paul George, 42, of Rancho Cucamonga
  • Yadira Garcia Padilla, 35, of Rancho Cucamonga
  • Mindy Sue Holt, 53, of San Bernardino
  • Michael Bruce Bates, 61, of Moreno Valley

According to prosecutors, the scam operated out of 21st Century Real Estate Investment Corp. in Rancho Cucamonga. The defendants were alleged to have persuaded more than 4,000 homeowners in distress to pay them to “negotiate” loan modifications between June 2008 and December 2009. Most of the victims lived in Los Angeles or Orange County.

The indictment charges that vulnerable homeowners were told that 21st Century Real Estate Investment Corp. could somehow hold off foreclosure and repossession of their homes, “falsely representing that 21st Century was operating a … program sponsored by the United States government.” They were told to stop making mortgage payments, yet allegedly did little or nothing to actually prevent foreclosure.

The indictment says the alleged mastermind of the scheme was Andrea Ramirez, 44, a Rancho Cucamonga resident. Christy Romero, special inspector general for the federal Troubled Asset Relief Program (TARP) said “Ramirez and her co-conspirators are charged with fraudulently operating 21st Century to exploit the hardships of homeowners fighting to keep a roof over their head.” And “(We) are committed to shutting down schemes that prey on those who can least afford it by falsely claiming an affiliation with TARP’s housing programs.”

Read the original article in the Walnut Patch.

© 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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