via the Mortgage Fraud Blog
Three New Defendants in California Foreclosure Rescue Scheme Indictment
A federal grand jury has returned a new indictment that adds three defendants to a case stemming from a $12 million foreclosure scam in which homeowners who were in default on their mortgages were promised refinancing, but ended up having their homes sold to others after the equity had been skimmed.
The superseding indictment alleges a scheme orchestrated by Martha Rodriguez, 35, Downey, California and Edward Seung Ok, 40, Torrance, California who operated real estate and escrow agencies in Downey and Seal Beach, California. Rodriguez and Ok were arrested last November when the grand jury issued its first indictment.
The superseding indictment adds three defendants, as well as additional fraud counts and new identity theft charges. The new defendants are Cynthia Valenzuela, 23, Downey, California who is Martha Rodriguez’s cousin; Vladimir Stefanovic, 35, Lancaster, California who is Martha Rodriguez’s boyfriend; and Maria G. Juarez, 36, Reseda, California.
The indictment outlines a foreclosure scheme that targeted commercial lenders and homeowners in such areas as Artesia, Lakewood, Gardena, Wilmington, Carson, West Covina, La Puente, El Monte, Westminster, Downey, Van Nuys and San Bernardino, California. The scheme victimized more than 100 homeowners and allegedly caused losses of at least $12 million.