El Monte, CA Resident and Others Indicted in Mortgage Fraud Scam

mortgage-fraud
One Californian and three Nevada residents have received felony indictments for their mortgage lending fraud scam.

A 15 count indictment was returned by a grand jury on April 22, charging William Patterson, 51, of El Monte, Calif.; along with Las Vegas residents Lynda Finch-Estrada, 54, William Chrissikopoulos, 43, and Alan Dornhuber, 63.

Operating under the name USFP, Estrada, Chrissikopoulos, Dornhuber and Patterson pushed a so-called “forensic audit” promising clients that if a “forensic audit” of their mortgage uncovered one or more RESPA violations, clients would be entitled to a legal remedy resulting in the elimination of their mortgage obligation, prosecutors said. The indictment alleged that the defendants also peddled an “administrative process” by falsely claiming that sending documents to various entities signed and fingerprinted in accordance with specific instructions including the use of multi-colored inks had legal significance which would result in clients obtaining their home free and clear of their mortgage.

Finally, defendants sold a program whereby clients would obtain their home free and clear of their mortgage by quitclaiming their home to a nonprofit, “American Home Rescue,” paying rent to the alleged nonprofit for a period of time, and then having the nonprofit deed the home back to the clients.

The defendants typically charged $6,295-$12,990 up front for one or multiple programs but failed to deliver the promised services, prosecutors said.

“Mortgage and foreclosure rescue scams continue to threaten home ownership,” Nevada Attorney General Catherine Cortez Masto said. “Our office cannot investigate or prosecute cases like this without hearing from possible victims. I encourage potential fraud victims to submit complaints to our office.”

Do you think you know someone who may be a victim of a mortgage fraud crime? We urge you to contact the Attorney General’s Office Bureau of Consumer Protection hot line at 702-486-3132 to receive instructions on how to submit a complaint.

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  • Rolph Schiffe

    It’s good to see that there are a few less con artists on the streets. It’s reasons like this that home owners and buyers need to be extremely cautious about who they do business with. A little research can go a long way, and it’s always better to be safe than sorry!