|For Immediate Release
January 20th, 2004
(714) 347-8405 (O)
VILLA PARK WOMAN CONVICTED OF 36 FELONY COUNTS OF FRAUDULENT REAL ESTATE TRANSACTIONS
Santa Ana – Beth Allison Ayars, 40, from Villa Park, was convicted this afternoon on 36 felony counts of grand theft, forgery, escrow fraud, filing false financial statements to obtain loans and passing insufficient fund checks. She faces a maximum sentence of 21 years in state prison for a series of fraudulent residential real estate transactions.
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 $1,400,000.00. Most of the properties affected were in the Orange County area with a total financial loss to lenders of approximately $1,000,000.00.
The majority of the money was stolen while Beth Ayars was out on bail on the original felony fraud case. Ayars is also charged in a separate pending case of the fraudulent sale of another trust deed while she was out on bail a second time.
Sentencing is set for March 12th, in department C-42, in Orange County Superior Court.