Industry News

Pair accused of $2.9 million real estate fraud scheme

Complaint alleges unlicensed duo used a 'Rent-A-Credit' program to find buyers

The ROI Producing Real Estate Event of the Summer
Reach top decision-makers at Inman Connect

A Southern California duo are accused of perpetrating a $2.9 million real estate fraud scheme in an eight-count felony complaint filed last week by the Ventura County District Attorney's office. The office's Real Estate Fraud Prosecution Unit filed a complaint against Manuel "Manny" John Perez, Jr., 34, and Michele Galindo, 37, of Oxnard, Calif., charging them 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, District Attorney Gregory D. Totten announced Wednesday. Perez is charged with an additional count of forgery related to a quitclaim deed purportedly executed by his former wife. The alleged crimes took place between May and September 2005. Bail for Perez and Galindo was set at $500,000 each by Ventura County Superior Court Judge Roland Purnell. Perez, who is not a state-licensed broker or agent, allegedly operated his real estate sales, financing and ...