|For Immediate Release
May 7th, 2004
Deputy District Attorney
REAL ESTATE CON ARTIST SENTENCED TO MORE THAN 14 YEARS IN STATE PRISON
Santa Ana – Beth Allison Ayars, 40, from Villa Park, was sentenced today to fourteen years and four months in state prison for a series of fraudulent residential real estate transactions. Ayars was convicted in January of thirty-six (36) felony counts of grand theft, forgery, escrow fraud, filing false financial statements to obtain loans and passing insufficient fund checks.
From 1998-2002 Ayars operated her business under the names IPEC (Investment, Processing, Escrow, and Consulting), IMS (Innovative Mortgage Services) and Escrow Masters. Ayars fraudulently obtained loans and purchased property by defrauding lenders and property owners. In one case, Ayars created trust deeds reflecting fictitious loans. The trust deeds then were sold as investments to individuals and Ayars pocketed the profits. Through these practices, Ayars was able to acquire money and property valued at more than $1.4 million. Most of the properties affected were in the Orange County area with a total financial loss to lenders of approximately $1 million.
The majority of the money was stolen while Beth Ayars was out on bail on the original felony fraud case. A restitution hearing has been set for Friday, June 18, 2004 at 9 am, in department C42, of the Central Justice Center, 700 Civic Center Drive W., Santa Ana, CA 92701. A second case involving real estate fraud charges against Ayars is set for pre-trial on Friday, May 21, 2004 at 9 am, in department C39.