Lawyer pleads guilty involving short sale fraud

http://www.8newsnow.com/story/28004640/lawyer-pleads-guilty-involving-short-sale-fraud


Hopefull I'll see the thief, most dangerous criminal mind, above the law Frohnmayer and his bank robber Bob Ackerman facing the court soon & locked in prison for the rest of their remaining lives!!!

LAS VEGAS -- Criminal defense attorney Luis Rojas, 38, of Las Vegas pleaded guilty Monday in federal court to making false statements in connection with a fraudulent short sale of property in Henderson, according to the U.S. Attorney's Office for the Southern District of California. 

As detailed in the plea agreement, Rojas purchased a single family home in 2006 for $935,430, which he financed by taking out two mortgages from Homecomings Financial Network, a GMAC company. Rojas then lived in the home until February 2011, when he sent an offer to GMAC, proposing a short sale of the property for $288,000. 

Under terms of the offer, Rojas would sell the property to an unrelated buyer. After the sale was complete, Rojas was to be relieved of his obligation to repay the mortgages. GMAC agreed to the sale on the condition that Rojas was not affiliated with the buyer. What Rojas failed to disclose to GMAC was that his brother-in-law was acting as a “straw buyer,” and that Rojas was providing him with the money necessary to conduct the “sham” transaction. 

In reality, Rojas would be purchasing the property from himself. To effectuate the scheme, Rojas traveled to several bank branches in Las Vegas and Henderson, and withdrew $290,000 from his personal bank account and that of his wife. He then collected the bulk cash in a duffel bag and gave the bag to his brother-in-law. 

His brother-in-law then used the funds to complete the purchase of the house from Rojas for $289,822. Rojas, however, never moved out of the home, and one month later the title was transferred back to him. Rojas consequently eliminated his $935,430 mortgage obligation, and owned his home outright. 

As further detailed in the plea agreement, Rojas also made false statements in connection with his earlier attempts to refinance his home. Rojas attempted to renegotiate his mortgage, claiming he could no longer afford his monthly payments. As part of the negotiation process, Rojas submitted a financial disclosure form, in which he hid the fact he maintained a brokerage account with liquid assets totaling more than $134,000.

Rojas faces a maximum sentence of five years in prison and a fine of up to $250,000. Sentencing is scheduled for June 1 before U.S. District Judge James C. Mahan.

by Taboola

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