California Real Estate Fraud Report

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Three Jara family members plead guilty to Bakersfield mortgage fraud

Bakersfield residents Eliseo Jara Jr., 35, and his brother, Sergio Jara, 33, have pleaded guilty to conspiracy to commit bank fraud, mail fraud, and wire fraud in a $5.6 million mortgage fraud case. Sergio Jara’s wife, Melissa Jara, 34, pleaded guilty to wire fraud in the same case, according to the Office of the U.S. Attorney for the Eastern District of California.

According to prosecutors, from 2007 to 2010, the Jara brothers, who owned Jara Brothers Investments, conspired with other persons to use straw buyers to purchase residential properties in Bakersfield they had developed with Pershing Partners LLC. Straw buyers were paid to purchase the properties from the two firms and they were funded by submitting false documentation to the lenders. Melissa Jara admitted she had submitted fraudulent loan documents to a lender on behalf of a straw buyer in order to finance a property she owned in an LLC.

All three defendants have agreed to financial restitution and relinquishing six properties as part of their sentences, which have yet to be set.

This case is the product of a joint investigation by the Internal Revenue Service‑Criminal Investigation and the Federal Bureau of Investigation. Assistant U.S. Attorneys Kirk E. Sherriff, Henry Z. Carbajal III, and Megan A. S. Richards are prosecuting the case.

Four of the Jara’s co-defendants who have already pleaded guilty are Antonio Perez-Marcial (46 months in prison); Arlene Mojardin (awaiting sentencing); Candace Gonzales (awaiting sentencing); and  Ricardo Salinas (awaiting sentencing).

Read the original article in KERO 23ABC 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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