The scheme was carried out from 2018 to 2022, which involved submitting fake income documents.
Three Bay Area real estate professionals have been sentenced to federal prison for their roles in a $55 million mortgage fraud conspiracy, the U.S. Attorney’s Office announced.
Senior U.S. District Judge Charles R. Breyer also ordered the three to collectively pay more than $3 million in restitution and serve three years of supervised release following their prison terms. The scheme was carried out from 2018 to 2022, which involved submitting fake income documents to secure approximately 102 home loans totaling $55 million, the news release said.
Martinez, a real estate agent, referred clients to Buditaslim, knowing the loan applications would include fraudulent information. He earned nearly $590,000 in commissions from the deals, according to his plea agreement.Crime and Public Safety |
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