San Bernardino County Man Charged In Theft Of Elderly Couple's Home; Allegedly Pocketed $250K In Subsequent Refinance

In Southern California, the San Bernardino County District Attorney's Office announced that investigators in its Real Estate Fraud unit arrested real estate agent Anthony Vargas, 34, at his office in Rancho Cucamonga, CA.(1) According to the DA's press release:

• [I]n February 2008, Vargas fraudulently acquired a property in Rancho Cucamonga that belonged to an elderly Rancho Cucamonga couple. Vargas completed a Grant Deed and forged the victims' signatures, granting the property into his name. Vargas recorded the Grant Deed with the San Bernardino County Recorder’s Office and became the owner of record of the residential property. The victims owned this property outright with no mortgage owed. Vargas immediately took out a loan on the property in the amount of $250,000. [...] During the loan process the property was appraised at $1,200,000.

For the press release, see Rancho Cucamonga Man Arrested for Real Estate Fraud.

Go here, go here, go here, and go here for other posts related to deed or refinancing scams by forgery, swindle, etc.

(1) Vargas faces felony counts of Grand Theft (PC 487), Forgery (PC 470), Filing a False/Forged Document with the County Recorders Office (PC 115a) and Financial Elder Abuse (PC 368d), according to the DA's press release. Links are to the relevant sections of the California Penal Code. DeedTheftAlpha