California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. *** AS OF NOVEMBER 2017, THE CALIFORNIA REAL ESTATE FRAUD REPORT IS 10 YEARS OLD! ***


Bakersfield Man Pleads Guilty in Real Estate Development Fraud Case

 U.S. Attorney Benjamin Wagner announced that Antonio Perez-Marcial, 41, a Bakersfield man, has entered guilty pleas to conspiracy to commit bank fraud, mail fraud, and wire fraud in a large mortgage fraud conspiracy case in Bakersfield.

In this case, Perez-Marcial admitted conspiring with other persons to procure straw buyers to purchase Bakersfield homes developed by Jara Brothers Investments and Pershing Partners LLC. Jara Brothers is owned by Eliseo Jara and Sergio Jara and Pershing Partners is owned by Lucia Chavez, all of whom are defendants who have pleaded not guilty.

According to Perez-Marcial, he was paid a “consulting fee” of $20,000 to $30,000 for finding the straw buyers and funding their down-payments, which, along with false income and asset information, was used to obtain loans. He admitted his role cost the lenders approximately $3,455,250 in losses.

Read the original article in the Central Valley Business Times.


© Copyright 2007-2018 Monique Bryher

Legal Disclaimer.

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.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.


Copy Protected by Chetan's WP-Copyprotect.