Convicted Short Sale Scammers Sentenced to County Jail, Loss of License

November 2, 2016 | Two real estate brokers who were successfully prosecuted by the Sacramento County District Attorney's Offi...



November 2, 2016 |

Two real estate brokers who were successfully prosecuted by the Sacramento County District Attorney's Office's Real Estate Fraud Unit were sentenced yesterday by Sacramento Superior Court Judge Curtis Fiorini.

Broker Shaima Hadayat and Real Estate Agent Harpreet Singh were realtors for multiple short sale transactions in which they signed arm’s length transaction agreements under penalty of perjury. An investigation by the Office of Inspector General revealed the sellers were related to the buyers and after the transactions were completed, the sellers remained in their homes in violation of the agreements. 

Both defendants conspired to facilitate and obtain commissions from these transactions and Singh also forged proof of funds on multiple offers to various realtors throughout Sacramento County. Singh pled no contest to a felony count of forgery and agreed to surrender his realtor license to the California Bureau of Real Estate. 

Shaima Hadayat pled no contest to a misdemeanor count of grand theft and agreed to surrender her broker license to the California Bureau of Real Estate. 

BOth defendants were sentenced to 180 days in the county jail for real estate fraud. Singh also received 5 years formal probation and Hadayat received 3 years informal probation

The Office of the Inspector General was the investigating agency as the victims, Wells Fargo Bank and Bank of America, N.A., applied for and received federal Troubled Asset Relief Program (TARP) funds under the Capital Purchase Program (CPP). 




Related

Crime 5072864684644859323

Post a Comment

Follow Us

Popular

Archives

Corrections

Responsive




item