California Real Estate Fraud Report

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Australian Man Gets Prison for $5,000,000 Loan fraud

An Australian man who admitted he conspired with convicted criminals  Henrik and Hamlet Sardariani to steal money from a bank (loan fraud) has been sentenced to four years in federal prison for his role in concealing the proceeds.

Christopher J. Woods, 53, of Sydney, pleaded guilty in November 2011 to conspiracy to commit money laundering and two counts of money laundering. He was sentenced by United States District Judge Virginia A. Phillips, who ordered the former jockey to pay $3,510,000 in restitution as well as a $10,000 fine.

The Sardariani brothers lied to the lender, contending the loan money was to extend an already-existing escrow and to purchase a hospital when in fact they never intended to repay the loan. The bank was lulled into feeling their investment was safe because of of the assurances of Wandy Tenney, an escrow officer. After the lender wire half of the funds to Tenney’s escrow company, Christopher Woods and Henrik Sardariani ordered her to wire $1.9 million to Sardariani’s Hong Kong account. Woods’ proceeds was an additional $1.9 million, which he had wired to an account in Los Angeles.

Henrik Sardariani was sentenced last August to 10 years in prison. His brother Hamlet received 6 1/2 years. Wanda Tenney will be sentenced by Judge Phillips in May 2013 after pleading guilty to conspiracy.

This fraud was investigated by the Federal Bureau of Investigation and the Internal Revenue Service-Criminal Investigation.

Read the original article in the Imperial Valley News and the press release by the US Attorney’s Office Central District of California. There are also four earlier articles posted on the California Real Estate Fraud Report about Henrik Sardariani, Hamlet Sardariani and Wanda Tenney.

© Copyright 2007-2018 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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