LOS ANGELES (CN) – Federal and state officials on Thursday arrested 13 of 14 people charged with raking in $35 million in fraudulent mortgage schemes. The Ventura County residents could face up to life in prison if convicted of all charges; the 14th defendant is believed to be out of the country.
The federal indictment accuses the defendants of filling out false loan applications for people, largely from the Hispanic community, who could not afford the loans.
The defendants made millions of dollars in fees and commissions, while costing banks millions of dollars when they foreclosed on homes the buyers couldn’t afford.
One indictment accuses 10 people who worked at Moretech Financial of securing $25 million in mortgages through fraudulent applications.
Here are the defendants in that case:
Rosa Amelia “Rosie” Fernandez, 34, of Camarillo, who worked at Mortech Financial; Raul Rocha, 37, of Camarillo, Fernandez’s brother, who worked at Century 21 Premier Hills and Estates; Luis Ramos, 40, of Camarillo; Rogelio Vega, 43, of Oxnard; Patricia Vega, 43, of Camarillo; Leticia Hernandez, 38, of Santa Paula; Eduardo Magdaleno, 62, of Ventura; Richard Ceniseroz, 57, of Oxnard, who is believed to be traveling abroad; Lilibell Meza, 34, of Fillmore; and Eduardo Reyes, 33, of Oxnard.
The second indictment claims four people raised $10 million in fraudulent mortgage loans that were siphoned through Platinum Power Mortgage in Oxnard.
These defendants are Miriam Sukey Estrada, 32, of Oxnard, who operated Platinum Power, and Premier Tax Service in Oxnard; Adela Naranjo, 50, of Oxnard, who helped Estrada run Platinum Power; Maria Del Rocio Partida, 45, of Oxnard, who is Naranjo’s sister and was a real estate agent at Century 21 Premier Real Estate in Oxnard; and Juan Manuel Banales Venegas, also known as “Chicken Little,” 23, of Oxnard.