An Antelope man today pleaded guilty in federal court in Sacramento to conspiracy in a mortgage fraud scheme.
According to court documents, 41-year-old Jun Michel Dirain and co-defendants in the case were employed by Delta Homes and Lending Inc., a real estate and mortgage lending company. Between October 2004 and May 2007, Dirain, a loan processor, conspired with others to obtain home loans from mortgage lenders based on loan applications and supporting documents that falsely represented the borrowers assets and income, liabilities and debts, employment status and citizenship status, according to a federal Department of Justice news release.
As part of the scheme, Dirain and his co-conspirators allegedly provided money to borrowers to temporarily inflate the borrowers’ assets and bank account balances until the lenders approved the loans. Then the borrowers returned the money to the defendants.
The aggregate sales prices of homes involved in the conspiracy exceeded $10 million. As a result, mortgage lenders and others suffered losses of at least $4 million, authorities said.
Dirain, who pleaded guilty to conspiracy to commit wire fraud, is to be sentenced April 28 by U.S. District Judge William B. Shubb.
Officials said a status conference is set for Feb. 10 for the remaining defendants, including Moctezuma Tovar, Manuel Herrera, Ruben Rodriguez and Jaime Mayorga, all licensed real estate agents living in Sacramento; and Sandra Hermosillo of Woodland and Christian Parada Renteria of Sacramento, both former loan officers.
The case resulted from an investigation by the Federal Bureau of Investigation.