Brentwood man arrested on suspicion of multimillion-dollar foreclosure scam

SACRAMENTO -- A Brentwood man was arrested Friday on suspicion of masterminding a multimillion-dollar foreclosure scheme that defrauded more than 1,000 homeowners and caused many involved to lose their homes, attorneys said.

Alan David Tikal, 44, was arrested at his home on a mail fraud complaint alleging he was behind a multistate scam that defrauded distressed homeowners, according to a statement from U.S. Attorney Benjamin B. Wagner and state Attorney General Kamala Harris.

More than 1,000 homeowners who paid upward of $ 3.1 million were victimized by Tikal, 95 percent of whom are California residents, the complaint states.

According to court documents, Tikal kicked off a large-scale mortgage rescue scam beginning in January 2010 that was still operating at the time of his arrest.

Tikal reportedly pulled off the scheme by convincing homeowners that he could satisfy their pre-existing mortgage debt and replace it with a new debt to his company, KATN Trust, claiming the new loan would be for only 25 percent of the original principal.

Victims made regular payments on their new loans to KATN trust and paid thousands of dollars in upfront fees, according to the complaint. Tikal and his employees reportedly instructed the victims not to pay their original mortgage and to ignore all correspondence from the original lenders, resulting in many of the victims losing their homes to foreclosure.

"As the foreclosure crisis

continues, we are seeing a rise in scams that target struggling homeowners," Harris said. "These predators rob innocent families of their life savings and their piece of the American dream."

Tikal will appear before U.S. Magistrate Judge Edmund F. Brennan in Sacramento at 2 p.m. Friday, Harris said. Tikal faces a sentence of up to 30 years in prison if convicted.

Contact Erin Ivie at 925-847-2122. Follow her at Twitter.com/erin_ivie.

Read More @ Source

Don Shipley's Phony Navy SEAL of the WEEK Ike Densmore. Fake Fraud Phony Military Impostor

Retired Navy SEAL Don Shipley exposes Phony Navy SEAL of the Week Ike Densmore... Ike listed his resume online and included that he was a highly decorated Navy SEAL and wounded in action three times. Instead of Ike changing his resume by deleting his BULLSHIT about being a SEAL he thumbed his nose at me and made more "Believable" claims after I pointed out mistakes he made. One being Ike wrote that he had 6 Navy "ACCOMDATION" Medals instead of "COMMENDATION" Medals and Ike quickly made the changes on Linkedin. Ike also changed his resume from "United State Special Forces, Seal Team One" to "United States Navy Seal Team One" and pissed me off even more... Ike should have deleted his crap and I'd have left him alone... anothervoice.1776redux.com www.facebook.com fakewarriors.org www.linkedin.com Ike's Linkedin Profile changed after we spoke... It went from the below "United State Special Forces, Seal Team One 1 Silver Star. 1 Bronze Star 3 Purple hearts 2 Presidential Unit Citation 6 Navy Accommodations" to "United States Navy Seal Team One 1 Silver Star. 1 Bronze Star 3 Purple hearts 2 Presidential Unit Citation 6 Navy Commendation medal" You give some guys a chance to come clean and delete their fraudulent claims and they instead just try and clean up their BULLSHIT and make it more believable...

Video Rating: 4 / 5



Fraudulent Stories Here

Comments

Post a Comment

Popular posts from this blog

Woman pictured in Te'o hoax talks about perpetrator

Image
Two of the people linked to an expansive hoax involving Notre Dame linebacker Manti Te'o attended the same Antelope Valley high school, according to the Southern California woman whose photos were used in the ruse. Diane O'Meara, who now works in marketing at STN Media Group in Torrance, spoke to NBC's "Today"  about the incident in a segment that aired Tuesday. In the segment, she said she met the supposed hoaxer, Ronaiah Tuiasosopo, in high school but added that the two were not friends. Paraclete High football coach Norm Dahlia confirmed to The Times that Tuiasosopo played quarterback for the Lancaster school in 2007. A Deadspin.com report published last week first revealed the hoax but did not name O'Meara. The report claims that Tuiasosopo used photos of a girl he met at Paraclete High School in Lancaster as part of a Twitter account for a "Lennay Kekua," a fake woman whom he connected with Te'o. "My name is not Lennay Kek...
Keep reading

Iran Denies Space Monkey Phony

Image
After Iran announced last week that it had launched a monkey into space, web sleuths compared before and after photos of the furry astronaut and cried hoax. They claimed the monkey that made public appearances after the space flight in a bespoke suit looked nothing like the animal that had been shot into space, which seemed to have lighter fur and a mole above its eye. Did a monkey die in flight, asked the conspiracy theorists? Or did no primate ever leave the ground? Now the Iranian space agency has stepped forward to clear up any confusion. According to space official Mohammad Ebrahimi, it's true that the pictures don't match, and that they show two different monkeys. But Ebrahimi said that's not because of a hoax – it's because the pre-flight photo of a light-furred monkey was actually an archival photo and not a picture of the actual animal, Pishgam, who rode the rocket. According to the Iranians, Pishgam took a 20-minute flight and returned to earth s...
Keep reading

College Place Police Call Walmart Bomb Threat a Phony

Image
COLLEGE PLACE, Wash. - College Place Police are investigating an apparent bomb threat hoax at Walmart over the weekend.   Saturday night, police say the College Place Walmart called 911, reporting a bomb threat the store received, set to go off at 6:19 on Sunday morning. Officers and the College Place Fire Department arrived on scene and evacuated the store just before 1 AM that night. Officers and firefighters stayed there overnight blocking the doors, and didn't allow customers or employees back in until 7 AM.   Police say 6:19 came and went, but nothing exploded, no one got hurt, and they couldn't find any sort of explosive device, leading officers to believe the incident was an apparent hoax. Police say they don't know who made the threat, and while they're looking into leads, they don't have any potential suspects yet. Walmart returned to business as usual after 7 am on Sunday. Read More @ Source Sonic CD 510 (Earlies...
Keep reading