Feds Indict 19 In Major Mortgage Fraud Case
posted by: Nina Sparanon.sparano@krdo.com
SACRAMENTO CA -Nineteen people have been indicted in a major mortgage fraud case Federal Agents call Operation Homewrecker, where at least 115 victims lost their homes as they tried to save them from foreclosure.
United States Attorney Mcgregor W. Scott announced the indictment in Sacramento Monday morning. In two separate indictments now unsealed, the charges include mail fraud, conspiracy to commit mail fraud, conspiracy to commit money laundering and other related offenses. The first indictment involved an alleged “foreclosure rescue” scam, reportedly netting approximately $6.7 million in fraudulently obtained funds taken from 47 homeowners, nearly all of whom were located in California, Federal Investigators said.
Investigators say defendants would seek out desperate homeowners and offer a way for them to avoid foreclosure. A co-called “investor” would be added to the property title, with the homeowner paying rent lower than the original loan payment to give the owner time to repair credit and eventually gain back the house.
Charles Head, 33, of La Habra, California and Jeremy Michael Head, 30, of Huntington Beach were among 16 people named in the first indictment. That second indictment alleges 68 more victims with losses of $5.9 million.
Both indictments claim the fraud began as far back as January 1, 2004 through June of 2006.
“The issue of mortgage fraud is issue of major national legal economic problem we in California central valley experienced by firsthand as record numbers of homes go into foreclosure do in large part to fraud,”
United States Attorney Mcgregor W. Scott continues,
“In the investigations brought forth today there is one common theme unmitigated greed.”
“The common denominator in both indictments isCharles Head, 33, of La Habra , Ca as the owner and operator of head financial services in Orange County. Mr. Head concocted fraud scheme to bilk homeowners of the equity in their homes. In short, Mr. Head and his co conspirators would identify homes in foreclosure, fraud obtain identity, and remove all equity from home through fraudulent mortgages. First indictment involves 47 victims the combined collective from the 6.7 million dollars.”
Scott O’Brien IRS SPECIAL AGENT IN CHARGE says,
“The individuals involved in the fraud being discussed Monday took advantage of many unsuspecting people and caused them significant financial hardship many of these victims weren’t aware of what going on until too late.”
“Do not fall for promises such as we’ll buy your home as is.We will assist you in eliminating your credit problems. We will get you a new mortgage with a significantly lower interest rate.. They should also get referrals check licenses with professionals – with state county agencies.” says O’Brien.
Also charged:
Elham Assadi, (aka Elham Assadi Jouzani, aka Ely Assadi), 30, of Irvine California Leonard Bernot, 51, of Laguna Hills, California Akemi Bottari, 28, of Los Angeles Joshua Coffman, 29, of north Hollywood John Corcoran(aka Jack Corcoran) 52, of Anaheim Sarah Mattson, 27, of Phoenix, Arizona Domonic NCCarns, 33, of Brea, California Anh Nguyen, 36, of Los Angeles Omar Sandoval, 32, of Rancho Cucamonga, California Xochitl Sandoval, 29, of Rancho Cucamonga Eduardo Vanegas, 28, of Phoenix Andrew Vu, 39, of Santa Ana Justin Wiley, 28, of Irvine Kou Yang, 32, of Corona, California.
