California Real Estate Fraud Report

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Santa Cruz Woman Sentenced to Prison for Real Estate Investment Fraud

Tara Denise Bonelli, 33, has been sentenced to 37 months in prison by United States District Judge Edward J. Davila in San Jose.

Bonelli pleaded guilty on February 12 to wire fraud in violation of 18 USC § 1343. U.S. Attorney Melinda Haag said she defrauded investors of more than $3 million in a mortgage assistance scam.

Bonelli is the founder of Vista Holding Company, which at one time owned and operated eight entities, including Vista Funding Inc.

Her other companies, all operating under Vista Funding Inc., were Independent Financial, which bought mortgage notes from banks; Equity Advisors, a mortgage company that matched lenders with borrowers; Bonelli Properties, a real estate company; Lost Dollar Services, a company formed to facilitate collection of homeowner overages; Equity Inquiries, a real estate research company; Outlook Enterprises, a development company; and Sovereign Property Management, a property management company.

On August 5, Tara Denise Bonelli will appear at a hearing to determine the restitution she must pay her victims.

Read the original article in the Imperial Valley News and The Californian.

© 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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