California Real Estate Fraud Report

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Married Couple Plead Guilty to Elder Financial Abuse in Modesto

James Lee Lankford, the former owner of Century 21 Apollo in Modesto, has agreed to plead guilty to seven counts of mail fraud, which could result in a prison sentence of eight or more years.

His husband since July, Jon Vance McDade (aka Jon Lankford) pleaded guilty to one count of bank fraud but will be sentenced to only one day in prison.

According to what was originally a 49-count indictment, the two men stole $7 million from elderly property owners in Modesto and Hughson from 1999 to 2010 (elder financial abuse).  They gained the trust of the seniors and then fleeced them and lenders by applying for and receiving fraudulent loans against the victims’ properties. Some of the elderly homeowners later lost their homes to foreclosure.

James Lee Lankford has surrendered his real estate license.

Read the original article in the Modesto Bee. There are earlier postings in the California Real Estate Fraud Report that can be found by clicking here, here, and here.

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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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