MAN PLEADS GUILTY TO $5 MILLION LOAN FRAUD

By
Education & Training with The Real Estate Mart of Tennessee, Inc. TN LIC# 290452

Glendale Man Pleads Guilty in $5 Million Loan Fraud Case

U.S. Attorney’s Office January 09, 2012
  • Central District of California (213) 894-2434
 
LOS ANGELES—A Glendale man has pleaded guilty to five felony charges, admitting that he defrauded private money lenders out of more than $5 million by fabricating numerous documents and pledging as collateral properties he did not own.

Henrik Sardariani, 44, pleaded guilty last Wednesday to conspiracy, three counts of wire fraud and money laundering.

Henrik Sardariani has been in custody since December 21, 2010, when he and his brother, Hamlet Sardariani, were arrested by special agents with the Federal Bureau of Investigation and IRS-Criminal Investigation.

According to a plea agreement filed in this case, Henrik Sardariani obtained more than $5 million in loans after, among other things, falsifying numerous documents. In order to obtain one of the loans, Henrik Sardariani fraudulently used a house as collateral and falsely claimed to be the president of the company that owned the property. To support the claim that he controlled the company, Henrik Sardariani created false corporate records that were presented to the lender.

Henrik Sardariani also admitted that he created fraudulent property records to make it appear that prior loans had been paid off and that, therefore, new loans would be fully secured by unencumbered property. The fraudulent reconveyances bore forged and fraudulent signatures of notaries public, as well as fraudulent stamps of the notaries public.

In relation to another loan, Henrik Sardariani falsely told a lender that a loan was only needed briefly to extend a pre-existing escrow, would be needed for no more than a month and would result in a substantial payment to the lender when the loan proceeds were deposited into the pre-existing escrow. In fact, as Sardariani admitted, he intended to use the loan proceeds to bet on horse races. After the lender wired $2.5 million to the escrow account that Sardariani had designated, Sardariani instructed the escrow officer to wire the funds to a Hong Kong bank account to fund the gambling. The escrow officer, Wanda Tenney, pleaded guilty to conspiracy on November 30 and is scheduled to be sentenced later this year.

Henrik Sardariani pleaded guilty before United States District Judge Jacqueline H. Nguyen, who is scheduled to sentence the defendant on March 26. When he is sentenced, Henrik Sardariani faces a statutory maximum sentence of 75 years in federal prison.

Hamlet Sardariani, 42, of Sylmar, is scheduled to go on trial before Judge Nguyen on March 6.

The case against Sardariani was investigated by the Federal Bureau of Investigation and IRS-Criminal Investigation.

CONTACT:

Assistant United States Attorney Ranee A. Katzenstein
Major Frauds Section
(213) 894-2432

Assistant United States Attorney Kristen Williams
(213) 894-0526

Courtesy FBI

Posted by

 

 


David Saks


 

Earth

Content Protected © 2014  
Subscribe To David's Blog    
Add David as an Associate

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the world to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Groups:
Crime
Realtors®
Tags:
real estate fraud

Comments 4 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the sunglasses to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
21,199
Chuck Beaumont
Going The Extra Mile...
Royal Lepage Binder Real Estate

Some people just don’t get it. There is no easy way, they are not above the law and there are consequences. Can’t do the time? Don’t do the crime. Cheers to you...

January 09, 2012 10:05 PM
Rainmaker
1,182,830
David Saks
Memphis, Tennessee
The Real Estate Mart of Tennessee, Inc.

Yeah, Chuck. Dude was a vile fraudster. He earned a nice prison sentence.

January 09, 2012 10:27 PM
Rainer
21,199
Chuck Beaumont
Going The Extra Mile...
Royal Lepage Binder Real Estate

Good to hear that justice was served in this case. When people are taken for large sums there needs to be heavy sentences to help dter future predators.

January 10, 2012 11:46 AM
Rainmaker
1,182,830
David Saks
Memphis, Tennessee
The Real Estate Mart of Tennessee, Inc.

The crimes are much more sophisticated and dangerous, Chuck. Fraud examiners have to be at the height of their game to catch these thugs.

January 10, 2012 02:13 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the computer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
1,182,830

David Saks

Memphis, Tennessee
ActiveRain Enriches Lives ! Question or Note ? Send It Here !
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the key to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

Join ActiveRain


Legal Disclaimer:

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies

The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

Photos © & Licensed by Nova Development

Content Protected © 2014   


Subscribe To David's Blog    
Add David as an Associate

Before you even think about committing a real estate crime click the red button.
Real Estate Crimes

Free Meta Tag Tool for SEO

Meta Tag Analyzer