6 people involved in a federal crime financial scheme have been charged with fraud.
Deon L. Jackson, 38, a mortgage broker from Gardena, was sentenced Monday September 10, 2012 to one year in federal prison for his role in a fraud scheme that conned lenders out of about $3 million through bogus loan applications and bribery.
Maria Arriaza, a former escrow officer from Palmdale, was convicted at trial, and the remaining five pleaded guilty.
Jackson, Arriaza and Anthony Lewis were charged with wire fraud and conspiracy.
Jennifer Le, an ex-loan processor from the South Bay, was charged with conspiracy.
Matthew Balsz, a former U.S. Bank employee from the South Bay, and former Bank of America employee Freddy Lentz were charged with accepting bribes to facilitate the scheme.
Lewis and co-conspirators illegally received funds from various financial institutions by lying on loan applications used to purchase homes using straw buyer names.
Jackson, taking on his role as the broker, reviewed the documents and told Lewis what further information was necessary to qualify straw borrowers for loans.
Lewis then got fake bank statements and other forms, while Jackson and Le submitted the phony loan applications to lenders. They had a nice set up very well organized.
Once the loans were approved and the funds wired to Arriaza’s Diamond Clear Escrow in Granada Hills, the money was disbursed and false statements were prepared to conceal the true nature of the disbursements.
Arriaza was sentenced to 40 months in federal prison and Lewis to 57 months, while Lentz, Balsz and Le received probation.
Hedding Law Firm
16000 Ventura Blvd #1208
Encino, CA 91436
Categorised in: Federal Crimes