California Real Estate Fraud Report

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15
Mar

Bay Area Real Estate Agent, Two Others, Indicted in Real Estate Fraud Case

Back to fraud committed by “the little people” (see posting preceding this post).

A father, his son and a third person have been indicted by a federal grand jury with committing mail fraud, bank fraud and false statements on a loan and credit application (loan fraud).

Charged are real estate agent Rajeshwar Singh, 38, of Pleasanton; his father Surjit Singh, 66, of Dublin; and Anita Sharma, 51, of Gilroy. If they are convicted, they could receive sentences of up to 30 years in prison (doubtful) and a $1 million fine (also doubtful).

The indictment accuses Surjit Singh of recruiting persons with good credit to act as straw buyers for homes his family or friends owned. The Singhs are alleged to have received more than $2.1 million in residential loans as a result of falsifying the buyers’ financial statements. Anita Sharma is alleged to have been one of the straw buyers of the properties, all of which went into foreclosure.

Read the original article in The Oakland Tribune.

© 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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