California Real Estate Fraud Report

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Four Indicted in Rancho Cucamonga Real Estate Fraud

U.S. Attorney’s Office spokesman Thom Mrozek announceed that four Southern California residents have been indicted for operating a scheme that included obtaining mortgage loans to purchase properties that were not for sale.

The indicated individuals are Angela Cotton, 38, of Fontana; Lisa Lievanos, 44, of Fontana; Terral Toole, 40, of Irvine; and Miles Davis, 45, of Glendale. They are charged with conspiracy, money laundering and wire fraud. Cotton in particular is accused of locating properties that were the subject of a lis pendens (pending action) and fraudulently obtained about $4 million in loans to purchase the properties, even though they were in fact not for sale.

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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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