District Attorney Mark Peterson announced today that Darren Wassell, a former real estate agent from Danville, was arrested by investigators from the District Attorney’s Office on a warrant charging him with Conspiracy, Forgery, Burglary, Passing Insufficient Fund checks, and attempting to file False Documents with the Recorder’s Office. Wassell had conspired to file a fraudulent Deed of Full Reconveyance at the County Recorder’s Office to discharge a $1,200,000 mortgage owed to Wells Fargo Bank on his Danville residence. Wassell is also accused of issuing over one and one-half million dollars in “bad checks.”
A Danville resident since 2005, Wassell purchased his 5 bedroom/3 bathroom residence with a $1,200,000 mortgage. In 2011, Wells Fargo Bank was in the process of foreclosing on Wassell’s home mortgage when he conspired with a friend to file a fraudulent Deed of Full Reconveyance.
In addition, in 2012 Wassell briefly opened and closed a checking account with US Bank. Weeks after the US Bank account was closed, Wassell wrote and mailed a $1,548,600 check to Wells Fargo from the closed US Bank account. Needless to say, the check bounced based on insufficient funds.
Wassell was formerly a licensed real estate agent until his license expired in 2010. Wassell is presently the Chief Executive Officer of a real estate investment limited liability company called ‘Still Creek Capital, LLC’ since 2011.
Wassell has been charged with five felony counts including Conspiracy, Forgery, Burglary, Non-Sufficient Funds Checks, and Filing False Documents. He faces a maximum sentence of 5 years, 8 months. His bail is presently set at $100,000.
District Attorney Mark A. Peterson stated “that this office will prosecute anyone who deceives victims and businesses of their hard earned money in any real estate fraud scheme. We will not tolerate swindlers nor financial predators in our community.”
Darren Wassell is being prosecuted by the Real Estate Fraud Unit of Contra Costa County by Deputy District Attorney Ken W. McCormick. Further questions can be referred to Mr. McCormick at 925-957-8785.