A federal grand jury indictment accuses four real estate professionals of preparing fraudulent loan applications to obtain more than $55 million in residential mortgages for northern California home buyers, prosecutors said.
The indictment unsealed Thursday alleges that Tjoman Buditaslim, also known as Joe Lim, 51; Travis Holasek, 51; Jose Alfonso Tellez, 26; and Jose De Jesus Martinez, 58, engaged in the mortgage fraud scheme between May 2019 and Aug. 23, 2023.
The defendants are accused of creating false divorce documents and child support checks for people who had never been married or even met, and fabricating bank statements with inflated balances, to qualify buyers for home loans, according to the U.S. Attorney’s Office for the Northern District of California.
A mortgage origination company, which was not identified, lost about $8.1 million in the scheme, prosecutors said.
Buditaslim, Holasek, Tellez and Martinez were accused of wire fraud and conspiracy to commit wire fraud. Buditaslim, Holasek and Martinez were also accused of aggravated identify theft.
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I’m sure we would all like to know how the stolen $8.1 million will be recovered.
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Trust but verify.
About 15 years should serve as a warning to others !
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If there is no threat of incarceration,
there is no deterrence to criminal behavior
This is what happens when the Big Guy doesn’t get his 10%. Did they think they were politicians?
Hey isn’t this similar to what the big banks were doing prior to 2008? The bank executives all got bonuses and retired comfortably. Funny how the law works for big banking. It’s not a crime it was just bad business. Not to mention the over 1 million fraudulent accounts Wells Fargo created without customer consent. The CEO was let go with a nice fat package.
Jail time to the full extent of the law – then bankrupt them all for life
So let’s not talk about the fraud committed BY the banks on every person every second of every day for decades. You guys acting like the banks are your friends is the ultimate lol.