California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. *** AS OF NOVEMBER 2017, THE CALIFORNIA REAL ESTATE FRAUD REPORT IS 10 YEARS OLD! ***


Gang member pleads guilty in San Diego mortgage fraud

In a plot that has been repeated many times in the California Real Estate Fraud Report, a gang member pled guilty in federal court to operating a mortgage fraud ring that included at least 24 people. It entailed straw buyers, phony appraisals, fraudulent applications for mortgages and falsified escrow documents as well as the services of a real estate broker, Stanley Gentry, who allegedly sold access to the MLS for $10,000 / month. Estimates of the losses for the over 100 properties in San Diego County range between $20 million and $50 million.

Darnell Bell pled guilty to participating in a racketeering conspiracy involving bank fraud, money laundering and other crimes, for which he faces up to 20 years in prison. His co-conspirator, Michael Ivy, owned the Real Estate Center in La Mesa. Ivy pled guilty earlier to conspiracy and is awaiting his sentence.

Read the full story in the San Diego Union Tribune.

© Copyright 2007-2018 Monique Bryher

Legal Disclaimer.

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.

ALL RIGHTS RESERVED. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without written permission from the author, except for the inclusion of BRIEF QUOTATIONS in a review.


Copy Protected by Chetan's WP-Copyprotect.