Loan Officer & Agent Arraigned on Mortgage Fraud Charges

Allison Tussey —  April 5, 2011 — 4 Comments

Christopher Allen Taylor, 38, Riverside, California, a loan officer, is charged with eight felony counts of grand theft and faces a maximum sentence of 18 years in state prison if convicted. He is out of custody on $100,000 bail.

Richard Cadieu, 73, Laguna Woods, California, a real estate agent, is charged with one felony count of grand theft and faces a maximum sentence of 13 years and four months in state prison if convicted. He is out of custody on his own recognizance. Taylor and Cadieu are both scheduled to be arraigned tomorrow, Friday, April 1, 2011, at 9:00 a.m. in Department C-5, Central Justice Center, Santa Ana.

Agida Jamil, 52, Rancho Santa Margarita, California, a loan officer, is charged with eight felony counts of grand theft and faces a maximum sentence of 18 years in state prison if convicted. She is out of custody on $50,000 bail. Jamil is scheduled to be arraigned April 4, 2011, at 9:00 a.m. in Department C-55.

William David Robin, 53, Coto de Caza, California, owner of Pacific Vantage, faces a maximum sentence of 12 years and eight months in state prison and is out of custody on $500,000 bail.

Zane Rogers, 49, Paso Robles, California, a real estate agent, is charged with one felony count of grand theft and faces a maximum sentence of 13 years and four months in state prison if convicted. He is out of custody on $25,000 bail. Rogers and Robin are scheduled to be arraigned April 7, 2011, at 8:30 a.m. in Department C-5.

A loan officer and a real estate agent will be arraigned for a 5-person conspiracy to defraud homeowners and banks in an $8 million real estate fraud investment scheme involving Pacific Vantage, a real estate and mortgage business in Rancho Santa Margarita, California. All five defendants are charged with one felony count each of conspiracy to commit grand theft and conspiracy to make false financial statements with sentencing enhancements and allegations for property loss over $3.2 million, property loss over $1.3 million, aggravated white collar crime over $500,000, property loss over $200,000, aggravated white collar crime over $100,000, property loss over $100,000, and property loss over $65,000.

The court dates for all five defendants are expected to be consolidated.

Circumstances of the Conspiracy

Robin is accused of being a real estate and mortgage broker as well owning and operating Pacific Vantage. Jamil and Taylor are accused of being loan officers for the business. Cadieu and Roger are accused of being real estate agents who worked for or with Pacific Vantage, and who facilitated at least one fraudulent deal each through Pacific Vantage.

Robin is accused of masterminding the fraudulent scheme. Beginning in 2006, Robin, Jamil, and Taylor are accused of advertising and marketing a “shared equity program” for the purchase of homes in Southern California. They are accused of instructing the buyers to pay half of the mortgage to Pacific Vantage and offering for Pacific Vantage pay the other half. They are accused of fraudulently claiming that Pacific Vantage would pay the full mortgage amount to the mortgage lending institution as a co-owner. After two or three years, the buyer would have the option to buy out Pacific Vantage or sell the house and split the profit.

Jamil and Taylor are accused of completing loan applications for the 16 homes of behalf of buyers and inflating the buyers’ incomes in order to qualify for “stated income” mortgage loans, for which the buyers were not financially eligible. Income amounts on “stated income” loans were not verified by the lenders.

Cadieu and Roger are accused of being real estate agents with knowledge of the fraudulent loan scheme. Both defendants are accused of conspiring with Pacific Vantage and acting as the agent on at least one fraudulent mortgage loan-financed home sale each.

After making several payments to the lender as part of the “shared equity program” agreement, the defendants are accused of ceasing to pay the lender on all 16 properties in late 2007. Buyers, who believed Pacific Vantage was paying their mortgage, continued to send half of their mortgage payment every month to Pacific Vantage. The defendants are accused of keeping the money and failing to pay the mortgages. All 16 buyers subsequently lost their homes to foreclosure.

In all, the defendants are accused of defrauding the lender and home-buyers out of over $8 million.

Senior Deputy District Attorney Pete Pierce of the Real Estate and Mortgage Faud Crimes Team is prosecuting this case.

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Allison Tussey

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4 responses to Loan Officer & Agent Arraigned on Mortgage Fraud Charges

  1. thank you for bringing these types of businessmen out in public. i live in the town where this “rogers” is from. with people in business like this we ought to all watch our backs. often they hide behind god and their religion. it is a shame that some of these people call themselves christian. they don’t know the first thing about faith and spirtuality. Kristopher- – -any additional comments are welcome. lets put people like this out so it won’t happen again.

  2. Does anyone know about such email like this? This also smell like scam…

    Hello,
    An real estate company,located in Australia,is looking for Netherlands personnel in order to intermediate marketing transactions overseas.
    Due to a large period of time concerning the payment transactions
    accomplished between AU and Europe,our company is searching for staff,part time or full time.
    The earnings in return for work is 4000 EUR per month for only 3 hours
    a day. Depending on your time implication,seriousness and
    correctness,the earnings can be increased up to 200 percent .

    If you are interested on a possible collaboration then read the entire job’s description :

    – accept and make payments from and to our clients from all over the world, with the help of bank payment systems;
    – subtract 5 percent from each transfer as your commission
    – handle the preparation, delivery, and reporting processes for transactions,
    – make sure that payments and reports are disbursed in time and correctly,

    The position is entirely your town based, and no relocation is required from the successful candidate.
    This position does not involve any fixed working hours and is suitable for senior people or self-employed individuals. You don’t have to invest anything.

    Requirements :
    1. Elementary knowledge of payment transactions.
    2. The possibility to accept payments to your bank account:
    3. Promptitude in sending the payment to the supplier(by using his preferred payment method).
    4. Availability to check your email at least once a day.

    Interdiction :

    1.Not to fulfill the terms of confidentiality between our clients.
    2.Delaying the payment to our suppliers,after you have already received the amount(in the most cases our company shall request you to transfer the payment in the same day after you will get your errand).
    3.Impossibility of transferring our earnings on request.

    Note : If you don’t respect one of the terms mentioned above,our collaboration will be over.

    Let us know if you are interested and we will then send you more details concerning the vacancy with agreement and applications.

    Kind regards

    Maria Enser

  3. kristopher slaght December 19, 2011 at 5:02 pm

    A very important aspect of their scam I neglected to point out. The so-called real estate agents stated that the “salary’ they had revised on the loan Doc’s was our supposed combined income, and that they were co-signing for us. In my case, the bank who purchased the loan from pacific vantage never verified my employment, or income during the loan application process. The bank is as much responsible for these huge losses, as is Robin and Rogers. It’s as if the bank knowingly allowed this to happen, intentionally.

  4. kristopher slaght December 15, 2011 at 5:23 pm

    My name is Kristopher Slaght. I’m one of those that not only lost the home due to foreclosure because of those lying swindling bastards, Chase still insists that it was ME who lied on the loan app’s, not Robin and Rogers. Chase screwed up, and now they’re trying to make me pay for the 2nd mortgage, because they didn’t even follow simple guidelines to verifying income.

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