Five Indicted In Alleged Calif. Mortgage Fraud

SACRAMENTO (AP) - A federal grand jury has indicted five Sacramento-area residents on mortgage fraud allegations.

The five are charged with defrauding lenders by submitting fake loan applications for dozens of homes. They were indicted Thursday.

Prosecutors say Sheryl Hayden and her husband, Robert Martinson,
both of Newcastle, were trying to unload investment properties as the housing market cooled.

They allegedly enlisted the help of loan processors Rick and Melissa Villegas of Sacramento and Kathleen Delapp of Auburn.

Their attorneys could not be reached to comment Saturday.

The indictments allege the fraud included kickbacks to fake buyers and forged signatures on applications.

Victims included Aegis Mortgage and IndyMac Bank, a federally insured financial institution.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

AP-NY-06-28-08 2016EDT


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 22506769 - kolotv.com/a?a=22506769
Gray Television, Inc.