Southland mortgage brokers arrested
A trio accused of stealing $1 million are in the news today. From the story at latimes.com:
Three Southern California mortgage brokers have been arrested on suspicion of stealing nearly $1 million from borrowers seeking to adjust their home loans.
Michael McConville, 31, and co-workers Garrett Holdridge, 23, and Alan Ruiz, 28, are scheduled to be arraigned Monday in Los Angeles County Superior Court on charges of bilking more than 70 homeowners, said Scott Gerber, a spokesman for the California attorney general's office.
The three were arrested Thursday after a complaint listing 44 criminal charges was filed by the attorney general's office.
Normally, that office files civil complaints, but the investigation in this case led to a criminal complaint, Gerber said.
"This is essentially grand theft," he said. "We looked at the evidence and that's what it showed, and that warranted criminal charges."
Interestingly, the story also mentions those official-looking property tax reassessment mailings, which I know I have received on several occasions.