FRESNO, Calif. — A federal grand jury returned an indictment in opposition to German Antonio Lopez-Velasquez, 55, of Modesto; Marko Antonio Lopez, 27, of Modesto; and Lisa Marie Santos, 48, of Lengthy Seashore, charging them with financial institution fraud and conspiracy to commit financial institution fraud, U.S. Legal professional Phillip A. Talbert introduced.
Lopez-Velasquez was additionally charged with witness tampering. He’s alleged to have tried to influence a person to make false statements to regulation enforcement officers concerning a mortgage mortgage underneath investigation.
Based on court docket paperwork, Lopez-Velasquez and Lopez, who had been each actual property brokers, labored with Santos, a mortgage mortgage officer, to acquire fraudulent mortgage loans for properties based mostly in Stanislaus County, San Joaquin County, Santa Clara County, and elsewhere. The three utilized false paperwork, fictional corporations, and fictional people to acquire mortgage loans for debtors who weren’t certified to obtain loans. In complete, the defendants induced lenders to concern at the least 30 loans based mostly on false data with a complete principal mortgage steadiness exceeding $10 million.
This case is the product of an investigation by the Federal Housing Finance Company – Workplace of Inspector Common (FHFA-OIG), the U.S. Division of Housing and City Growth – Workplace of Inspector Common (HUD-OIG), and the U.S. Postal Inspection Service (USPIS). Assistant U.S. Legal professional Jeffrey A. Spivak is prosecuting the case.
“The FHFA-OIG is dedicated to holding accountable those that waste, steal, or abuse the sources of the Authorities-Sponsored Enterprises regulated by FHFA, which the defendants have been charged with defrauding,” mentioned Jay Johnson, Particular Agent in Cost, FHFA-OIG, Western Regional Workplace. “We’re proud to have labored with the U.S. Legal professional’s Workplace and our regulation enforcement companions on this case and to display, as soon as once more, that FHFA-OIG will examine and maintain accountable those that search to victimize the Authorities-Sponsored Enterprises supervised and controlled by FHFA.”
“This case demonstrates HUD OIG’s dedication to pursuing and bringing to justice those that put Federal applications, such because the FHA Mortgage Insurance coverage Fund in danger for their very own enrichment,” mentioned Particular Agent in Cost Mark T. Kaminsky with HUD OIG Workplace of Investigation. “HUD OIG stays dedicated to working with our regulation enforcement companions and the US Legal professional’s Workplace, Jap District of California to research and maintain accountable those that perpetrate mortgage fraud in central California.”
If convicted, the defendants face a most statutory penalty of 30 years in jail and a $1 million tremendous for financial institution fraud and conspiracy to commit financial institution fraud. If convicted, Lopez‑Velasquez faces a most statutory penalty of 20 years in jail and a $250,000 tremendous for witness tampering. Any sentence, nevertheless, could be decided on the discretion of the court docket after consideration of any relevant statutory components and the Federal Sentencing Pointers, which keep in mind various variables. The fees are solely allegations; the defendants are presumed harmless till and except confirmed responsible past an affordable doubt.