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Real Estate Scam Leader Targeting California Homeowners in Default Pleads Guilty

By James Comtois, National Mortgage News Online > Compliance and Fraud

March 27, 2007

 

After leading a real estate scam that targeted homeowners in California in default on their mortgages and falsely promised them help, a Downey resident pleaded guilty to federal fraud and money laundering charges, admitting her role in a $12 million real estate fraud scheme, according to the U.S. attorney’s office for the Central District of California.

 

Wednesday, March 7, 2007

Grand jury indicts Plano man with mail fraud and making false statements in used car sales

By Pegasus News wire

 

A federal grand jury in Dallas indicted Massoud Mortazavi-Koupai of Plano with six counts of mail fraud and three counts of making a false statement on transfer of a used motor vehicle, related to a fraudulent scheme which included concealing structural damage and odometer discrepancies. It is anticipated that Mortazavi-Koupai, 46, will surrender to federal authorities and then appear before a U.S. magistrate judge.

 

Martha Rodriguez pleaded guilty in U.S. District Court in Los Angeles before U.S. District Judge George H. King to one count of mail fraud and one count of money laundering in relation to the scheme that ran from May 2003 until November 2005.

Rodriguez admitted that, through her real estate and escrow agencies, Silvernet Properties in Downey and Bellasi Escrow in Seal Beach, she and several co-schemers located victim homeowners through computerized databases that list homes going into foreclosure.

... Full Story