10 Charged with Loan Misrepresentations and Short Sale Fraud
Joel Martinez, 41, Phoenix, Arizona, has been charged in a 43 count indictment involving nine other individuals in connection with a mortgage fraud scam. The charges include conspiracy, wire fraud, false statements, false representation of Social Security number, and aggravated identity theft. Martinez was ordered detained on June 21, 2012, pending trial. The other nine individuals charged in the indictment are:
Julio Cesar Esquivel Reyes, 38;
Estefana Salazar Olivares, 38, wife of Esquivel Reyes;
Claudia Salazar Olivares, 31, sister-in-law of Esquivel Reyes;
Martha Elena Gonzalez, 39, sister-in-law of Esquivel Reyes;
Andres M. Esquivel, 64, father of Esquivel Reyes;
Evangelina Gardner, 49, girlfriend of Esquivel Reyes's father;
Solomon Moses Worden, 36;
Edgar Lira, 40;
and Luis Antonio Maldonado Tovar, 48, pastor of Grupo Amistad Church, Phoenix, Arizona.
The indictment alleges that between June of 2001 and May of 2012, the defendants purchased a number of properties throughout the Valley, with Esquivel Reyes and Evangelina Gardner acting as real estate agents for a number of the transactions and Estefana Olivares, Martha Gonzalez, and Claudia Olivares processing many of the loans. The indictment alleges that the defendants conspired to:
Obtain mortgage loans by providing false information to lenders;
Use false information to refinance the fraudulently obtained mortgage loans and receive "cash back" prior to defaulting on the loans;
Obtain commissions from the sale of properties by and between conspirators; and
Sell fraudulently obtained properties to other members of the conspiracy for drastically reduced prices through short sales;
Convictions for conspiracy and false representation of a Social Security number each carry a maximum penalty of 5 years in prison, a $250,000 fine, or both. Convictions for wire fraud affecting a financial institution and false statements to a lending institution each carry a maximum penalty of 30 years in prison, a $1,000,000 fine, or both. A conviction for aggravated identity theft carries a mandatory penalty of 2 years in prison and a maximum fine of $250,000. In determining an actual sentence, U.S. District Chief Judge Roslyn O. Silver will consult the U.S. Sentencing Guidelines, which provide appropriate sentencing ranges. The judge, however, is not bound by those guidelines in determining a sentence.
An indictment is simply a method by which a person is charged with criminal activity and raises no inference of guilt. An individual is presumed innocent until competent evidence is presented to a jury that establishes guilt beyond a reasonable doubt.
The investigation preceding the indictment was conducted by U.S. Immigration and Customs Enforcement's (ICE) Homeland Security Investigations in Phoenix and the Internal Revenue Service - Criminal Investigation. The prosecution is being handled by Jennifer Levinson, Assistant U.S. Attorney, District of Arizona, Phoenix.
source: Mortgage Fraud Blog
Please be advised that:
The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.
By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.
Before you even think about committing a real estate crime
click this red button.
"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."
© All Rights Reserved.
Department of Justice Legal Policies
Click "HERE" For Today's Question
David Saks Show
University of Memphis
Mr.Saks' participation in ActiveRain ended April 13, 2015.
His blog archives will remain online.
May God bless you.