SACRAMENTO (CN) - Liberty One Lending and JTS Communities falsely promise homebuyers financing, take their nonrefundable deposits, falsely claim that their loan brokers are licensed, and induce customers to commit loan fraud, a class-action complaint claims in Superior Court.
Plaintiffs claim Liberty and JTS lure customers with deceptive ads promising they can "Own two homes for the payment of one!" and promise, "We do the loans, find the homes, and our property management manages them for you." They claim Liberty showed them a fraudulent loan "guarantee" from its own subsidiary, then the subsidiary denied issuing the letter. And they say Liberty posted a false review of itself on the Internet, claiming to be its own customer. Named plaintiffs say their nonrefundable deposits were more than $15,000 apiece. They demand punitive damages and also sue Syndicate Real Estate, Michael Pritchert, Grace Fulgentes, Jerry Castano, Linda Farkas, Cheri Regan, The Advantage Group, and New Home Marketing. They are represented by Mark Buckman. See complaint.
Read the Top 8
Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.
Additional Reads
-
Chicago political dynasty heir found guilty of tax fraud February 14, 2022 -
No arbitration for Trump in pyramid scheme class action July 28, 2021
