| For Immediate Release Case # 11ZF0105
March 31, 2011 |
Susan Kang Schroeder Chief of Staff Office: 714-347-8408 Cell: 714-292-2718 Farrah Emami |
LOAN OFFICER AND REAL ESTATE AGENT TO BE ARRAIGNED FOR ROLE IN CONSPIRACY TO DEFRAUD OVER $8 MILLION IN MORTGAGE FRAUD SCHEME
*Three others also face charges in this case
SANTA ANA – A loan officer and a real estate agent will be arraigned tomorrow for a 5-person conspiracy to defraud homeowners and banks in an $8 million real estate fraud investment scheme involving Pacific Vantage, a real estate and mortgage business in Rancho Santa Margarita. All five defendants are charged with one felony count each of conspiracy to commit grand theft and conspiracy to make false financial statements with sentencing enhancements and allegations for property loss over $3.2 million, property loss over $1.3 million, aggravated white collar crime over $500,000, property loss over $200,000, aggravated white collar crime over $100,000, property loss over $100,000, and property loss over $65,000.
Christopher Allen Taylor, 38, Riverside, loan officer, is also charged with eight felony counts of grand theft and faces a maximum sentence of 18 years in state prison if convicted. He is out of custody on $100,000 bail. Richard Cadieu, 73, Laguna Woods, real estate agent, is also charged with one felony count of grand theft and faces a maximum sentence of 13 years and four months in state prison if convicted. He is out of custody on his own recognizance. Taylor and Cadieu are both scheduled to be arraigned tomorrow, Friday, April 1, 2011, at 9:00 a.m. in Department C-5, Central Justice Center, Santa Ana.
Agida Jamil, 52, Rancho Santa Margarita, loan officer, is also charged with eight felony counts of grand theft and faces a maximum sentence of 18 years in state prison if convicted. She is out of custody on $50,000 bail. Jamil is scheduled to be arraigned April 4, 2011, at 9:00 a.m. in Department C-55.
William David Robin, 53, Coto de Caza, owner of Pacific Vantage, faces a maximum sentence of 12 years and eight months in state prison and is out of custody on $500,000 bail. Zane Rogers, 49, Paso Robles, real estate agent, is also charged with one felony count of grand theft and faces a maximum sentence of 13 years and four months in state prison if convicted. He is out of custody on $25,000 bail. Rogers and Robin are scheduled to be arraigned April 7, 2011, at 8:30 a.m. in Department C-5.
The court dates for all five defendants are expected to be consolidated.
Circumstances of the Conspiracy
Robin is accused of being a real estate and mortgage broker as well owning and operating Pacific Vantage. Jamil and Taylor are accused of being loan officers for the business. Cadieu and Roger are accused of being real estate agents who worked for or with Pacific Vantage, and who facilitated at least one fraudulent deal each through Pacific Vantage.
Robin is accused of masterminding the fraudulent scheme. Beginning in 2006, Robin, Jamil, and Taylor are accused of advertising and marketing a “shared equity program” for the purchase of homes in Southern California. They are accused of instructing the buyers to pay half of the mortgage to Pacific Vantage and offering for Pacific Vantage pay the other half. They are accused of fraudulently claiming that Pacific Vantage would pay the full mortgage amount to the mortgage lending institute.