California Real Estate Fraud Report

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15
Dec

Chatsworth Father and Daughter Convicted in $30 Million Family-Owned Mortgage Relief Fraud Scheme

Jamie Matsuba, 33, and Thomas Matsuba, 67, were found guilty in Los Angeles federal court of conspiracy to commit wire fraud, making false statements to federally insured banks and committing identity theft, according to the U.S. Department of Justice. They were also convicted of one count of making false statements to federally insured banks.

Dorothy Matsuba, 66, of Chatsworth, who is the mother of Jamie Matsuba and Thomas Matsuba‘s wife, and their daughter, Jane Matsuba-Garcia, 41, of Camarillo, both previously pleaded guilty. A fifth defendant, Young Park, of Los Angeles, is a fugitive.

Dorothy MatsubaJamie Matsuba, and Jane Matsuba all hold either current or expired licenses with the California Bureau of Real Estate.

The family ran business named Ownership Management Service LLC and Trust Holding Service LLC from January 2005 to August 2014. The companies promised homeowners get help for distressed homeowners by doing short sales with the lenders. The homeowners were told to deed their homes to trust controlled by the Matsubas, who further promised the homeowners they would pay their mortgages during the negotiation period with the banks.

Read the original article in SatPRNews and MyNewsLA.com

 

© 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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