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Arrest and indictment of three individuals in $7 million California mortgage fraud scheme

Christian Fernsby |
California Attorney General Xavier Becerra announced the indictment and arrest of three individuals on a 121-count felony indictment for allegedly operating a mortgage fraud scheme throughout California.

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Topics: CALIFORNIA    MORTGAGE    FRAUD    SCHEME   

The scheme resulted in a combined loss of over $7 million.

The victims, many of whom were elderly and in financial distress, sought mortgage relief services from Grand View Financial in the Counties of San Diego, San Mateo, Alameda, Contra Costa, San Joaquin, Placer, Solano, Mendocino, San Francisco, El Dorado, and Sacramento.

The operators of Grand View Financial—Steven Rogers, Robert Sedlar, and Audrey Gan—were indicted by a grand jury in the Sacramento Superior Court for conspiracy, grand theft, elder abuse, filing false or forged documents in a public office, and engaging in a prohibited act as a foreclosure consultant.

Between 2015 and 2019, the defendants allegedly conspired to steal money and homes from distressed homeowners using a company called Grand View Financial.

The company launched a mortgage and foreclosure assistance program that advertised assistance to desperate homeowners facing foreclosure.

The defendants promised consumers that if they transferred their house and paid money to Grand View Financial, the company would eliminate the mortgage lien and deed the home back to the homeowner, clear of any liens.

During this time, the defendants allegedly filed false court proceedings, false documents with the county recorders offices, and false bankruptcies.

The indictment and arrests are the result of a joint investigation by the California Department of Justice, Fraud and Special Prosecutions Section and White Collar Crime Team; the United States Office of Inspector General, Federal Deposit Insurance Corporation; the United States Office of Inspector General, Federal Housing Finance Agency; the United States Trustee Program; the United States Marshals Service; the Stanislaus County District Attorney's Office; and the El Dorado County District Attorney’s Office.


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