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More Mortgage Fraud: California

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Julio E. Sune Jr. (FL)

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Florida
MORE MORTGAGE FRAUD IN LOS ANGELES

Seven people were arrested Thursday, January 23, 2003 involving a mortgage fraud scheme in Kern, Ventura, Los Angeles and San Diego counties, federal officials said. The victims may have lost as much as $350,000 and the fraud generated about $13.4 million in fraudulently obtained loans.

Over the past seven years, the those arrested allegedly used a number of different methods to defraud banks and individuals to obtain at least 85 fraudulently obtained loans.

The people arrested were Elisa Lugo, 42; her daughter, Gabriela Orozco, 21;, and Manuel Ponce, 56, all of Port Hueneme; Francisco Astorga, 30, and Margarita Zapico, 24, both of Oxnard; Shari Dominguez, 44, of Mission Hills; and Maria Gregoria Zavala, 36, of Covina.

All were booked on suspicion of conspiracy to commit bank fraud, Giles said. (APWIRE12303)

MORAL

Reads like January has been a busy month for fraud.

REAL ESTATE BROKER ARRESTED IN CORONA, CA FOR MORTGAGE FRAUD

A real estate broker, Hubert Jean Turner, 34, of Corona used his clients' personal information to purchase high-end homes in Riverside, San Bernardino and Orange counties then selling them to make money, Corona police said. The homes were worth up to $820,000. Turner was arrested on suspicion of identity theft, theft by false pretense and possession of false financial statements.

Search warrants were served early Wednesday, January 22, 2003 at Turner's former place of employment, The Mortgage Place in El Monte, California.(apwire12302LA)

:evil: :evil: :evil:
 
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