More On Stockton Mortgage Fraud

KXTV-TV Channel 10 in Sacramento, California reports:

• "The FBI has questioned a number of real estate professionals linked to fraudulent transactions involving a Stockton man arrested last week. Investigators say Iftikhar Ahmad, 36, bought and sold more than 100 houses over the past decade. The FBI believes dozens of those transactions involved mortgage fraud."

• "In her report, FBI Special Agent Kathleen Nicolls said Deborah Timmins, 49, was an escrow officer involved in at least 13 of Ahmad's property sales. Nicolls said Ahmad paid Timmins $7,500 for her services outside of escrow, which she points out is not customary. Timmins admitted to the FBI that she was fired from Chicago Title for misconduct and later went to work for Commonwealth Land Title. Timmins' twin sister, Denise James, was an escrow assistant and her notary seal was used in five of Ahmad's real estate transactions. Two of those transactions involved identity theft."

Loan company employees and the appraisers are also on the FBI radar. In addition to the real estate professionals, the FBI has reportedly identified dozens of individuals it believes may be complicit in the mortgage fraud scheme, including Ahmad's three brothers and people who bought houses from Ahmad.

For more, see Real Estate Pros Probed in Mortgage Fraud.

For story updates, see

• Mortgage fraud probe widens (Jose Serrano, 44, of Stockton was indicted by a federal grand jury in Sacramento on mail fraud and money laundering charges for his part in the alleged scheme that illegally flipped more than 100 homes, spearheaded by 36-year-old Iftikhar Ahmad, also of Stockton.) (10-26-07)
• FBI details housing fraud case (Stockton man awaits a court hearing Thursday) (8-26-07).

Go here for other posts on this investigation.