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AZ Man gets time

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Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Just one little bitty one to add to today's pleasure.

Arizona Man Gets 2 Years For Straw Buyer Conspiracy

Frank Padilla, Tucson, Arizona, was sentenced to two years in prison followed by three years of supervised release. Padilla was also ordered to pay more than $1.1 million to two banks identified as victims in the judgment.

Frank Padilla, 36, Tucson, was indicted along with Carlos Bent, 35, Tucson, Arizona, for conspiracy, wire fraud and engaging in illegal monetary transactions in amounts greater than $10,000. Padilla pleaded guilty to conspiracy.

Bent and Padilla found straw buyers to be the purported purchasers of the properties and paid the straw buyers a substantial fee for their fraudulent participation. Bent, Padilla and others created fraudulent documents, including false employment verifications, bank statements, mortgage loan applications and contractor’s licenses in order to qualify the straw buyers for 23 mortgage loans from financial institutions totaling over $13 million.
 

Mysterman

Freshman Member
Joined
Aug 25, 2007
Professional Status
General Public
State
Arizona
Karl waiting to see that appraiser, that the Az Board continues to "slap hand, take a class, and lastly approve a mentor even if he's unlicensed at the time of his mentor's approval. And no discipline on an Investigators $600,000 over value of property.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Karl waiting to see that appraiser, that the Az Board continues to "slap hand, take a class, and lastly approve a mentor even if he's unlicensed at the time of his mentor's approval. And no discipline on an Investigators $600,000 over value of property.

I think that shortly he'll BEG the Appraisal Board to give him some punishment, hopig that that will relive him from becomeing the Poster Boy for another group of indictments that should be hitting newspapers soon.

PS you keep up the good work & keep him in the fore front. It's the common citizen like yourself that is going to actually make the difference. More fighters like yourself & we wouldn't be in this mess.
 

Hiker

Sophomore Member
Joined
Oct 2, 2004
Professional Status
Certified Residential Appraiser
State
Arizona
I can't tell you how many times I've seen that name on the Az Board's monthly meeting website...
 

Mysterman

Freshman Member
Joined
Aug 25, 2007
Professional Status
General Public
State
Arizona
How about 12 out of 17 board meetings.
 
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