District Attorney Gregory D. Totten announced today that the Real Estate Fraud Prosecution Unit has filed an eight-count felony complaint against Manuel “Manny” John Perez, Jr. (DOB 5/7/72), and Michele Galindo (DOB 3/17/69) of Oxnard, California. The complaint charges Perez and Galindo with seven counts of grand theft, arising from their actions under the guise of Perez's wholly-owned businesses, Casa Bonita Realty, Creative Mortgage Solutions and Elite Escrow, between May and September, 2005. Perez is charged with an additional count of forgery related to a quitclaim deed purportedly executed by his former wife. Perez's bail was set by Ventura County Superior Court Judge Roland Purnell at $500,000. Galindo's bail was also set at $500,000.

Perez, who is not a broker or agent licensed by the Department of Real Estate, allegedly operated his real estate sales, financing, and escrow businesses with Galindo employed as a real estate agent. They allegedly utilized a fraudulent “Rent-A-Credit” program to seek buyers for homes in which the buyers were supposedly helping others achieve home ownership. Galindo represented the buyers in real estate purchase transactions by submitting offers to purchase homes listed for sale. The employment, income, and intention of such buyers to occupy the homes was misrepresented to lenders so the buyers could qualify to purchase the homes. Rather, Perez allegedly continued to maintain control of the properties for leasing to prospective tenants, or his and Galindo's own use. Moreover, the loan amounts utilized to purchase the homes were increased by several thousands of dollars above the actual contract sales price by use of inflated appraisals and phony sales contracts reflecting higher purchase prices. Once loan funding was secured, Perez and Galindo liquidated excess funds by dispersing checks to Perez from the Elite Escrow trust account. The total monetary loss to sellers, lenders, and others as reflected in the offenses charged to date is approximately 2.9 million dollars. The Real Estate Fraud Prosecution Unit continues to investigate additional irregular transactions handled by Perez and his businesses.

If convicted as charged, Perez could be sentenced to up to 18 years in state prison and if Galindo is convicted, she could be sentenced up to 17 years, 4 months in prison.

Release Date: June 13, 2006

Contact: Miles Weiss, Senior Deputy District Attorney

(805) 289-1902