California Real Estate Fraud Report

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Escrow Fraud Guilty Plea for Loan Officer in Emeryville

As a result of a year and a half investigation by the IRS’ Internal Crime Investigation Division, Renato Gonzales Quiazon of Hayward has pled guilty to one count of wire fraud and four counts of filing tax returns.

Quiazon, formerly of New Century Mortgage, admitted that he concoted a plan to receive loan kick-backs, commissions and other fees fraudulently from the escrow accounts to the tune of more than $500,000. He not only defrauded the borrowers, he defrauded New Century out of mortgage broker’s fees to which he was not entitled, and he defrauded the mortgage broker whose license he used to commit his crimes.

Let’s hope the U.S. Attorney’s office gets Mr. Quiazon the maximum sentence.

Read the Full Article in Identity Theft Daily.

© 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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