| For Immediate Release Case # TBA March 2, 2012 |
Susan Kang Schroeder Chief of Staff Office: 714-347-8408 Cell: 714-292-2718 Farrah Emami |
FIVE MEN TO BE ARRAIGNED FOR DEFRAUDING HUNDREDS OF VICTIMS IN REAL ESTATE LOAN MODIFICATION SCAM
*Hundreds of fake letters with CitiFinancial or CitiMortgage logos sent as part of scam
SANTA ANA – Five men will be arraigned Monday on charges of defrauding hundreds of victims in a real estate scam by sending out fake letters with the CitiFinancial or CitiMortgage logos offering home loan modification assistance. The defendants listed below are scheduled to be arraigned Monday, March 5, 2012, in Department CJ-1, Central Jail, Santa Ana. The time is to be determined.
Defendants
Jacob John Cunningham, 24, Irvine, is charged with 14 felony counts of grand theft by false pretenses and one felony count each of conspiracy to charge illegal upfront fees, conspiracy to commit forgery, and money laundering. Cunningham is in custody on $48,257 bail and must prove the money is from a legal and legitimate source before posting bond. If convicted on all counts, he faces a maximum sentence of 13 years and eight months in state prison.
Justin Dennis Koelle, 23, Costa Mesa, is charged with seven felony counts of grand theft by false pretenses and one felony count each of conspiracy to charge illegal upfront fees. Koelle is in custody on $27,965 bail and must prove the money is from a legal and legitimate source before posting bond. If convicted on all counts, he faces a maximum sentence of seven years and eight months in state prison.
Andrew Michael Phalen, 25, Mission Viejo, is charged with eight felony counts of grand theft by false pretenses, two felony counts of theft from an elder, and one felony count of conspiracy to charge illegal upfront fees. Phalen is in custody on $25,035 bail and must prove the money is from a legal and legitimate source before posting bond. If convicted on all counts, he faces a maximum sentence of 10 years in state prison.
Dominic Adam Nolan, 30, Irvine, is charged with 14 felony counts of grand theft by false pretenses, and one felony count each of conspiracy to commit forgery, conspiracy to charge illegal upfront fees, and money laundering. Nolan is in custody on $48,257 bail and must prove the money is from a legal and legitimate source before posting bond. If convicted on all counts, he faces a maximum sentence of 13 years and eight months in state prison.
John D. Silva, 27, Irvine, is charged with 23 felony counts of grand theft by false pretenses, two felony counts of theft from an elder, and one felony count each of conspiracy to commit forgery, conspiracy to charge illegal upfront fees, and money laundering. Silva is in custody on $66,037 bail and must prove the money is from a legal and legitimate source before posting bond. If convicted on all counts, he faces a maximum sentence of 21 years and eight months in state prison.