California Real Estate Fraud Report

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Real Estate Agent Pleads Guilty in Illegal Home Flipping Case

Joshua Clymer, pleaded guilty  in U.S. District Court in Sacramento to conspiracy to commit mail and wire fraud in connection with mortgage fraud between 2006 and 2008.

Clymer, 28, was indicted in February 2012, after a federal grand jury indicted him on three counts for fraud and money laundering. While house flipping is not illegal per se, Clymer had made side payments to individuals that he did not disclose to lenders and also submitted fraudulent financial documents to lenders on behalf of buyers, many of whom later defaulted.

Clymer’s real estate license with the California Bureau of Real Estate has been in conditional suspension since 2007 for failing to meet continuing education requirements.

The case was investigated by the Butte County District Attorney’s Office, the FBI and the IRS – Criminal Investigation.

Read the original article in the Sacramento Business Journal.

© 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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