California Real Estate Fraud Report

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Civil Suit Claims Del Baggio Lied to Get Loans

A San Jose investment firm that extends loans to businesses has filed a lawsuit against society man and investor William “Boots” Del Biaggio III, accusing him of defauding it out of $3 million in a phony loan transaction.

 The lawsuit, filed in Santa Clara County Superior Court by DGB Investments, accuses Del Baggio, 40, of concocting a loan scam that included fabricating documents and claims, and then refusing to return the money after he was confronted.

Del Biaggio has resigned from Sand Hill Capital, a Silicon Valley lending firm he co-founded in 1997. Before the scandal, he was known as a local philanthropist and owned a minority interest in the San Jose Sharks pro-hockey team.

Read the Full Article  by Howard Mintz and Pete Carey in the San Jose Mercury News

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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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