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Report Fraud, Waste and Abuse
Date Published
July 19, 2018
News Type
Article
Link to Original
orangecountyda.org

(Source: orangecountyda.org)


Case # 17CF2429

Date: July 17, 2018

MAN SENTENCED TO EIGHT YEARS IN PRISON FOR UNLAWFUL LOAN MODIFICATION AND MONEY LAUNDERING AFTER DEFRAUDING NEARLY $2.3 MILLION FROM 387 HOMEOWNERS

SANTA ANA, Calif. – A man was convicted and sentenced on Friday to eight years in state prison for operating an unlawful loan modification and money laundering scam that defrauded nearly $2.3 million from 387 homeowners.

 

Defendant

Charges

Sentence (Court Offer)

Assad Suleiman, 48, Irvine



Pleaded guilty on July 13, 2018, to the following felony counts:
•(43) Money laundering
•(10) Grand theft
•(10) Second degree burglary
•Conspiracy to commit grand theft, money laundering, and unlawful loan modification

Sentencing Enhancements
•Aggravated white collar crime over $500,000

Prior Convictions
•Assault and mortgage fraud in 2010 in San Diego
   •Eight years in state prison
•Ordered to pay $1,568,717 in restitution

Codefendants Kevin Suleiman, 39, Irvine, and Rosa A. Barraza, 45, Santa Ana, were charged on Oct. 3, 2017, with 36 felony counts of money laundering, 12 felony counts of grand theft, 10 felony counts of commercial burglary, and one felony count each of conspiracy to commit grand theft, money laundering, and unlawful loan modification, with sentencing enhancements for aggravated white collar crime over $500,000 and property damage over $1.3 million. Kevin Suleiman is scheduled for a pre-trial hearing on July 27, 2018, at 8:30 a.m. in Department C-55, Central Justice Center, Santa Ana. Barraza is scheduled for a pre-trial hearing on July 30, 2018, at 8:30 a.m. in Department C-55, Central Justice Center, Santa Ana..........