California Real Estate Agent, Two Others Face Charges Of Defrauding Lenders, Clients

In Santa Clara County, California, the San Jose Mercury News reports:

• Gloria Alvarez was one of the top agents at a dominant East Side real estate company during the heady days of the recent real estate boom, but Thursday she was in jail facing multiple felony charges. Alvarez, 40, was arrested [last] Wednesday on a $1 million warrant as she was leaving a Santa Clara County Superior Court room where she was appearing in a civil suit for a settlement conference, which normally requires a defendant's appearance.

• The former star agent of the defunct Century 21 Su Casa real estate brokerage faces 11 felony counts, including grand theft involving an alleged scheme in which she and two relatives are accused of defrauding three lenders and several clients. [...] Also charged in the complaint are Alvarez's sister, Patricia Alvarez, and Gloria Alvarez's son, Ricardo Alvarez, a licensed notary, both of San Jose. [...] The three are accused of bilking Comerica Bank, Fremont Investment and Loan, and Countrywide Savings and Loan in the course of three real estate transactions valued at just over $2 million.

For more, see Former Su Casa real estate agent arrested, faces 11 felony counts (Woman, relatives Accused Of Scheme To Defraud Mortgage Lenders, Clients).