California Real Estate Fraud Report

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Real Estate Agent Convicted of Real Estate Fraud

The US Attorney’s office scored a win when a real estate agent from Santa Fe Springs was convicted of falsifying loan applications that reaped more than $1 million in revenue in a mortgage fraud scheme she carried out with her sister. Maria Sanchez, 36, was found guilty by a federal jury of 14 counts of conspiracy, money laundering, wire fraud and aggravated identity theft and faces up to 239 years in prison when she is sentenced. Her big sister, Beatriz Sanchez, 40, served as the straw buyer and will likely get no more than one year in jail for her part in the scheme, for which she pleaded guilty.

Sanchez worked for Lock Realty & Lending in Santa Fe Springs and Online Financial Services in Lawndale as both a real estate agent and loan officer.

Read the Full Article in the Whittier Daily News.

© 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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