The California Attorney General’s Office announced the indictment of six people involving the operation of a mortgage fraud scheme in Southern California. The individuals were charged with a total of 135 felony charges including conspiracy, grand theft, identity theft, forging documents and filing false documents.
Jacob Orona, Aide Orona, John Contreras, Prakashumar “Kash” Bhakta, Marcus Robinson and David Boyd were arrested last week of participating in a scheme that preyed upon homeowners facing foreclosure. The investigation involved joint cooperation between multiple law enforcement agencies into the defendants promising homeowners who are upside down in their homes ways to save their homes. The defendants required an upfront payment of $3,500 and additional monthly payments of $1,000 to file fake legal pleadings including filing fake deeds. This scam resulted in losses of over $4 million and did not save one homeowner from their distress.
Homeowners in San Diego, Los Angeles, Riverside and San Bernardino were the primary targets of the defendants. If convicted, the defendants face from 18-90 years in prison. The fraud stretched through San Diego, Riverside, San Bernardino, and Los Angeles counties.