LOS ANGELES (CNS) - A dozen people have been indicted in connection with an alleged mortgage fraud and “green'' loan scheme that operated throughout Southern California and resulted in losses of about $15 million, the California Attorney General's Office announced today.
The 133-count grand jury indictment, handed up April 26, alleges that the crimes occurred in Los Angeles, Riverside and Ventura counties.
The indictment charges the defendants with a variety of counts, including conspiracy, mortgage fraud, grand theft, identity theft, forgery, filing a false or forged document and money laundering.
The defendants allegedly exploited the Yrgene Energy Fund and Renew Funding, companies that provide funding to licensed contractors for energy-efficient home improvements for homeowners, and used false identities to get mortgage loans from conventional banks and hard money lenders, according to the Attorney General's Office.
“The allegations against these defendants charge a pattern of disregard for the law and willingness to go as far as stealing the identities of the deceased just to further their scheme,'' California Attorney General Rob Bonta said in a statement announcing the charges. “Our office will seek to hold these defendants accountable for their alleged actions.''
Those named in the indictment are: Tamara Dadyan, 39, Richard Ayvazyan, 42, Artur Ayvazyan, 41, Grigor Tatoian, 50, Andranik Petrosyan, 46, Arshak Bartoumian, 48, Artashes Martirosyan, 43, Lilit Malyan, 39, Lubia Carrillo, 41, Rosa Zarate, 49, Estephanie Reynoso, 31, and Vanessa Bell, 60.
Eleven of the defendants have pleaded not guilty, with Malyan due back in a downtown Los Angeles courtroom for arraignment May 18.
The case stemmed from a multi-year investigation by the Los Angeles Police Department, with assistance from the Federal Housing Finance Agency, Office of Inspector General.
The attorney general lauded the two agencies for “their work to put an end to an extensive, six-year fraud scheme that resulted in the theft of an estimated $15 million.''
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