California Real Estate Fraud Report

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Karma Time for Real Estate Agent Who Ran Ponzi Scheme

Celia Gallardo, the real estate agent from the North Hills section of the San Fernando Valley who pleaded guilty to wire fraud in a Ponzi scheme, is going to prison.

United States District Court Judge Dean D. Pregerson sentenced Gallardo, 42, to five years in federal prison for defrauding her victims out of over $2 million. Judge Pregerson also ordered her to return almost $2.4 million to them.

Gallardo’s businesses were Gold Feather Realty, Gold Credit Investments, Gallardo Property Management and Casa Bella Mortgage. She solicited persons to invest in her real estate program but just used the monies she received to pay earlier investors.

Although Celia Gallardo’s real estate license with the Bureau of Real Estate is still active, the BRE has filed a disciplinary action against her.

Read the original article in the San Fernando Valley Business Journal.

© 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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