Wednesday, August 23, 2017

Southern California Man Faces Felony Charges For Allegedly Using Forged Documents To Illegally Stall Foreclosure For Seven Years While Pocketing $2,500/Month In Tenant's Rent

In Newport Beach, California, The Orange County Register reports:
  • A 65-year-old man faces charges of fraudulently stonewalling a financial institution for years in its efforts to foreclose on his properties in Dana Point and Los Alamitos, a prosecutor said Thursday.

    Reynaldo Francisco Marques is charged with multiple felony charges, including grand theft and attempt to file false/forged instruments with sentencing enhancement allegations of property damage exceeding $200,000 and aggravated white-collar crime exceeding $500,000.

    The properties involved in the alleged fraud are at 33962 Malaga Drive in Dana Point and 11791 Montecito in Los Alamitos, according to Senior Deputy District Attorney George McFetridge.

    According to a motion to increase Marques’ bail, the defendant is accused of attempting to illegally stymie foreclosure of one of his homes by J.P. Morgan Chase beginning in 2011 and continued through October 2016.

    “Despite losing several legal proceedings on mortgage payments,” he would record several fraudulent documents at the Orange County Clerk-Recorder’s Office to keep Chase from foreclosing on the home for seven years, according to the motion.

    In some instances, he allegedly purported to be an agent of Chase, according to the motion.

    Throughout the alleged fraud, he continued charging renters $2,500 a month for the home, according to the motion. When the tenants moved out he moved in, according to prosecutors.

    Marques was also accused of taking down “no trespassing” signs from Chase and he “changed the locks” after the bank took control of the property, according to prosecutors.

    The loss on the property was estimated to be $796,000, according to prosecutors.