Real Estate Agents and Attorney Arrested for Fraud

admin —  June 15, 2009 — 4 Comments

Richard Nazabal, 51, Rancho Cucamonga, California, was arrested without incident at his home in the 5000 block of Granada Court in Rancho Cucamonga for his role as a real estate agent in a fraud scheme that defrauded scores of victims in San Bernardino County, California. The following day, attorney Garabed Kamarian, 49, Glendale, California, was arrested at his Glendale office by DA Investigators and Glendale Police. Nazabal’s step-daughter Christina Martirossian surrendered herself to authorities on Monday.

Nazabal’s wife, Desiree Wilcox Nazabal remains outstanding and is wanted on a $2.5 million arrest warrant.

Beginning in 2006 and continuing through 2008, Richard and Desiree Nazabal solicited funds from victims to invest in several inland empire homes with the stated intention of renovating and reselling the properties at a profit. More than twenty-five people invested more than $2.5 million dollars with the Nazabals. Instead of investing the victims’ funds, the Nazabals used the money for personal gain and never purchased homes for the victims. Christina Martirossian conspired with her mother and step-father to falsely bill a cleaning company in order to continue to support the family’s lavish lifestyle. Attorney Garabed Kamarian allegedly applied for loans the Nazabals could not qualify for in order to purchase the luxury home in the extreme north end of Alta Loma in which the Nazabal family was living. Kamarian falsified the loan applications, showing he was the owner and primary occupant of the home in order to make the purchase of the residence on behalf of Richard and Desiree Nazabal. Richard Nazabal and Garabed Kamarian were booked at the Sheriff’s West Valley Detention Center in Rancho Cucamonga on arrest warrants charging multiple counts of Grand Theft with a bail amount for Nazabal of $2,500,000 and $500,000 for Kamarian. Christina Marie Martirossian was booked and released on a $40,000 arrest warrant charging Grand Theft.

Investigators are seeking the public’s assistance in finding Desiree Wilcox Nazabal. If anyone has information of her whereabouts they are asked to contact their local police of sheriff’s department or Investigator Tina Greco at 909-891-3348.  Desiree is pictured in upper right of article.

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4 responses to Real Estate Agents and Attorney Arrested for Fraud

  1. no plea bargin . they proved wasnt her signatures what so ever.

  2. This is NOT true. All 3 are guilty, it’s called a plea-bargain!

  3. all charges are dropped for desiree nazabal and christina martirossian. they had nothing to do with it.

  4. My complaint is a bit different from what you probably normally deal with. I am a mortgage broker with 25 years of experience. Of the 25 years, I spent 10 years as a rep for wholesale lenders. I always shied away from or completely cut off brokers who did questionable deals.

    I am also a step father of 2 girls who are 16 and 18 years old. Their dad (P) left when they were 3 years and 14 months old. I have raised them since they were 5 and 7. Here’s the rub. My wife and I are OK financially or were until the past 18 months of economic turmoil. I have continually monitored the title history of the home that P and his new wife (C) own in the hopes that we could attach his asset. They bought in 2001 using a straw buyer (fraud #1). P could not obtain a loan because of a child support judgment. His wife (C) has not had a job in the 11 years that I’ve been around. So the straw buyer bought with 100% financing and never occupied the property (also occupancy fraud). Within 6 months this property was deeded to P and C, with P immediately deeding off. This is a fraudulent transfer in order to keep the asset out of the hands of the ex wife to pay the child support.
    So not only is this dead beat father avoiding child support, he is making a mockery of the existing system that California’s child support enforcement team uses. They put their hands up and say “what can we do?” I want to try to change the law to extend beyond the dead beat dad to his new partner in crime (whoever is holding the asset in their name, I.e. new wife, parent, girlfriend)

    P and C have refinanced this house at least 6 times, each time pulling out cash and each time with fraudulent applications stating income from C, even though she doesn’t have a job. This is simple to prove by getting a copy of the loan application and comparing it to a tax return (that probably doesn’t exist). The final blow is that, at this point the house is worth $300K and the loan is $572K, but they have netted cash all along, by doing cash out refinances with fraudulent applications). I have, as a professional courtesy (and I’m also pissed that the child support now stands at $95,000) contacted Countrywide to let them know that if they modify this note, they are accepting more fraudulent information. Bank of America, who now owns Countrywide called me the other day as a follow up to my previous calls. They have now modified the loan. This is after no payments were made for more then a year, an notice of default filed and Trustee Sale cancelled.

    P and C (in C’s name only) also purchased 3 houses simultaneously using 100% loans in 2006 and sold them at a profit of approximately $100K each less then 6 months later. They were all purchased as owner occupied (more fraud) and sold to unsuspecting buyers who were later foreclosed on. They would have had to create a job and income for these transactions. But even worse, none of these 3 mortgage companies would have known that they were buying 2 other houses at the same time. People like this were instrumental in our economy’s problems. They should not get away with it. And where are the profits from these 3 homes? None of it went to child support.

    Here are a few other points to ponder:

    P is a former appraiser who lost his license for FRAUD.
    He now works for a front fee modification company.
    I have gladly supported these girls emotionally, spiritually and financially and this guy is skating along when he should be in jail along with his wife for complicity.
    Where do I get help?

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