California man found guilty in $5.8 million mortgage fraud scheme

California Man Convicted for multi-million ‘mortgage loan reduction‘ Scam. Instead, they found that about $2.5 million of the money went to Tikal and his family. Tikal was arrested and incarcerated on fraud charges relating to this scam in September 2012 and continued to run the scheme from his jail cell for another 11 months, according to Romero.

Alan David Tikal, 46, of Brentwood, California, was convicted yesterday on 11 counts of mail fraud and one count of money laundering in a mortgage fraud scheme through which he stole .8 million.

Pedram Abghari, a/k/a "Ted Allen," 38, of Irvine, California, pled guilty to one count of conspiracy to commit wire fraud and one count of wire fraud, each of which carries a statutory maximum sentence of 20 years in prison, and one count of misprision of a felony, which carries a statutory maximum sentence of three years in prison.

Alan David Tikal was convicted in September of 11 counts of mail fraud and one count of money laundering based on his 2010-2013 operation of KATN, which scammed more than 1,000 California homeowners-mostly non-English-speaking immigrants-with false promises of reducing their mortgage debt by as much as 75 percent.

Alan Tikal stole $5.8 million from homeowners. A California man will spend the next 24 years in prison for leading a mortgage fraud scheme through which he stole $5.8 million in fees and monthly payments from struggling homeowners. In September, Alan Tikel, 46, was convicted of 11 counts of mail fraud and one count.

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If found guilty, the charges could land him more than 300 years in federal prison. “The money was used to fuel a lavish lifestyle that had no limits including making mortgage payments on a.

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CALIFORNIA MAN CONVICTED IN MULTIMILLION DOLLAR MORTGAGE FRAUD SCHEME WASHINGTON, DC – Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP); Benjamin B. Wagner, United States Attorney for the Eastern District of California; Kamala D. Harris, California Attorney General; and Jos M. Martinez, Special Agent in Charge, Internal Revenue