homesmillbrae.com » Fraud Scheme http://homesmillbrae.com Thu, 20 Oct 2022 03:48:43 +0000 en hourly 1 http://wordpress.org/?v=3.1 4 sentenced in $20M mortgage fraud scheme http://homesmillbrae.com/1476/4-sentenced-in-20m-mortgage-fraud-scheme/ http://homesmillbrae.com/1476/4-sentenced-in-20m-mortgage-fraud-scheme/#comments Sun, 13 May 2012 09:02:41 +0000 http://homesmillbrae.com/1476/4-sentenced-in-20m-mortgage-fraud-scheme/ Continue reading →]]> DISCOVERY BAY, Calif.—Four people have been sentenced in a $20 million mortgage scheme that involved properties in Northern California.

Seventy-six-year-old Ronald Nelson and his wife, 53-year-old Edith Nelson, both of Discovery Bay, each received more than 30 months in federal prison on Thursday. The couple pleaded guilty to bank fraud and tax evasion earlier this year.

Two San Francisco Bay area real estate agents, 49-year-old Cristeta Lagarejos and 68-year-old Nelda Asuncion, also pleaded guilty in the case. Lagarejos received an 18-month sentence. Asuncion was sentenced to 30 months in prison.

Prosecutors say the defendants obtained loans for more than 20 properties—many of them senior care facilities—using fake buyers and false employment and earnings information between 2002 and 2007.

The Nelsons were barred from operating senior homes. But prosecutors say they used the straw buyers to skirt that restriction.

Article source: http://www.mercurynews.com/breaking-news/ci_20609868/4-sentenced-20m-mortgage-fraud-scheme

]]> http://homesmillbrae.com/1476/4-sentenced-in-20m-mortgage-fraud-scheme/feed/ 0 4 plead guilty in NorCal mortgage fraud scheme http://homesmillbrae.com/1304/4-plead-guilty-in-norcal-mortgage-fraud-scheme/ http://homesmillbrae.com/1304/4-plead-guilty-in-norcal-mortgage-fraud-scheme/#comments Sun, 12 Feb 2012 07:25:05 +0000 http://homesmillbrae.com/1304/4-plead-guilty-in-norcal-mortgage-fraud-scheme/ Continue reading →]]> DISCOVERY BAY, Calif. — Four people have pleaded guilty to charges in a $20 million mortgage scheme that involved more than a dozen Northern California properties.

Seventy-six-year-old Ronald Nelson and his wife, 53-year-old Edith Nelson, both of Discovery Bay, entered the pleas to federal charges of bank fraud and tax evasion last week.

Two San Francisco Bay area real estate agents, 49-year-old Cristeta Lagarejos and 68-year-old Nelda Asuncion, also pleaded guilty in the case.

Prosecutors say the defendants obtained loans for at least 20 properties – many of them care facilities – using fake buyers and false employment and earnings information between 2002 and 2007.

The Nelsons were barred from operating care facilities. But prosecutors said they used the straw buyers to skirt that restriction.

All four defendants are set to be sentenced on May 11.

Article source: http://www.sacbee.com/2012/02/08/4248689/4-plead-guilty-in-norcal-mortgage.html

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