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|February 25, 2018|
Indictments in $2 Million mortgage fraud scheme
SAN DIEGO – (INT) - Four suspects have been indicted on 194 criminal felony counts for allegedly operating a mortgage fraud scheme throughout Southern California.
The scheme resulted in a loss of approximately $2 million for 40 victims who were seeking loans to help pay off their mortgages. Many of the victims lost their homes and life savings.
During the past 5-years, the defendants used a fake insurance company, “SafeCare,” which promised to provide home loan services at a low monthly price to primarily Latino and African American families. During this time, the defendants would delay foreclosures and eviction actions by filing false bankruptcy and other court documents under fictitious names. They would instruct victims to deposit illegal advance fees and other large payments into a bank account controlled by the defendants and, when the promised loan did not come through, would proceed with the fabricated filings.
Andrew Valles, Jemal Lilly, Mark Bellinger and Arnold Millman were indicted by a grand jury in the San Diego Superior Court for grand theft, filing false or forged documents in a public office, conspiracy to commit those offenses, and identity theft, as well as special allegations for aggravated white collar crime.
The scheme took place in San Diego, Riverside, Orange, Los Angeles, and San Bernardino counties.
Story Date: February 15, 2018