California Real Estate Fraud Report

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Del Biaggio Case Yields Fraud Charges Against Broker

The case of bankrupt financier William “Boots” Del Biaggio has all the earmarks of an episode of Dominick Dunne’s “Power, Privilege and Justice”. Del Biaggio, a wealthy Silicon Valley financier and investor in the San Diego Sharks ice hockey team, lived the high life of expensive homes and hung out at fundraisers for charities and casinos before his illegal activities came to the attention of authorities (see previous articles in the California Real Estate Fraud Report).

Now authorities have filed criminal charges against Del Biaggio’s friend,  fired Merriman Curhan Ford stockbroker David Scott Cacchione, for helping Del Biaggio carry out a scheme to receive more than $48 million worth of loans under false pretenses so that Del Biaggio could buy a Nashville-based professional hockey team.

Caccione is also facing a civil lawsuit by the Securities and Exchange Commission (SEC).

Read the Full Article in the Silicon Valley Mercury News.

© 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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