Here's something you might be interested in.
Ask a Hipster — Advice you didn't know you needed
Big Screen — Movie commentary
Blurt — Music's inside track
Booze News — San Diego spirits
Classical Music — Immortal beauty
Classifieds — Free and easy
Cover Stories — Front-page features
Drinks All Around — Bartenders' drink recipes
Excerpts — Literary and spiritual excerpts
Feast! — Food & drink reviews
Feature Stories — Local news & stories
Fishing Report — What’s getting hooked from ship and shore
From the Archives — Spotlight on the past
Golden Dreams — Talk of the town
The Gonzo Report — Making the musical scene, or at least reporting from it
Letters — Our inbox
Movies@Home — Local movie buffs share favorites
Movie Reviews — Our critics' picks and pans
Musician Interviews — Up close with local artists
Neighborhood News from Stringers — Hyperlocal news
News Ticker — News & politics
Obermeyer — San Diego politics illustrated
Outdoors — Weekly changes in flora and fauna
Overheard in San Diego — Eavesdropping illustrated
Poetry — The old and the new
Reader Travel — Travel section built by travelers
Reading — The hunt for intellectuals
Roam-O-Rama — SoCal's best hiking/biking trails
San Diego Beer — Inside San Diego suds
SD on the QT — Almost factual news
Sheep and Goats — Places of worship
Special Issues — The best of
Street Style — San Diego streets have style
Surf Diego — Real stories from those braving the waves
Theater — On stage in San Diego this week
Tin Fork — Silver spoon alternative
Under the Radar — Matt Potter's undercover work
Unforgettable — Long-ago San Diego
Unreal Estate — San Diego's priciest pads
Your Week — Daily event picks
Real estate scammers sentenced to prison
Ruse nets them between $7 million and $20 million
Ramona real estate agent Teresa Rose is headed to prison over her involvement in a multimillion-dollar loan scam, Courthouse News Service is reporting.
Rose was among three people facing federal indictment last May, though the total number of people charged eventually grew to six.
The group's ruse involved Rose advertising "investment" properties that could be purchased by straw buyers without a down payment, with alleged rental proceeds covering the mortgage payments. Those buyers, including Justin Mensen, who helped recruit others and launder funds, received a payout of $10,000 at the close of escrow from the group.
Fraudulent loan applications were passed from Rose to unlicensed loan broker Mary Armstrong and her assistant William Fountain, who got Los Angeles-based tax preparer Audrey Yeboah to help create phony documents validating bogus job and income claims that were presented to a lender's loan processor and fellow conspirator John Allen.
All six scammers entered guilty pleas, admitting to acquiring more than $100 million worth of fraudulent loans, skimming millions in fake construction costs as well as real estate and loan commissions on each deal. The loss to lenders and their institutional backers Fannie Mae and Freddie Mac is estimated at between $7 million and $20 million.
Rose faces a 15-month federal prison sentence as well as $500,000 in restitution. Armstrong, the ringleader, accepted a 100-month sentence, the harshest of the group.
Here's something you might be interested in.
Real estate scammers sentenced to prison
Ruse nets them between $7 million and $20 million
Real estate scammers sentenced to prison
Ruse nets them between $7 million and $20 million
Ramona real estate agent Teresa Rose is headed to prison over her involvement in a multimillion-dollar loan scam, Courthouse News Service is reporting.
Rose was among three people facing federal indictment last May, though the total number of people charged eventually grew to six.
The group's ruse involved Rose advertising "investment" properties that could be purchased by straw buyers without a down payment, with alleged rental proceeds covering the mortgage payments. Those buyers, including Justin Mensen, who helped recruit others and launder funds, received a payout of $10,000 at the close of escrow from the group.
Fraudulent loan applications were passed from Rose to unlicensed loan broker Mary Armstrong and her assistant William Fountain, who got Los Angeles-based tax preparer Audrey Yeboah to help create phony documents validating bogus job and income claims that were presented to a lender's loan processor and fellow conspirator John Allen.
All six scammers entered guilty pleas, admitting to acquiring more than $100 million worth of fraudulent loans, skimming millions in fake construction costs as well as real estate and loan commissions on each deal. The loss to lenders and their institutional backers Fannie Mae and Freddie Mac is estimated at between $7 million and $20 million.
Rose faces a 15-month federal prison sentence as well as $500,000 in restitution. Armstrong, the ringleader, accepted a 100-month sentence, the harshest of the group.
Comments