When I grow up, I want to be a blogger like Cindy Jones, an agent in Northern Virginia.  She comes up with great topics and titles for her Localism posts targeting military personnel and I try never to miss any of them. In fact, she's been kind enough to share some of her material with me when I asked.

I was so glad Cindy submitted (Can Your MLS Listing Get You in Trouble) and its follow-up post (below) to the requeat I made in my post earlier this week inviting everyone to provide a link to their first featured post.  Unfortunately, the first one didn't have the re-blog button enabled, but I can share this one with you. 

It's not one of her Localism posts, however, so be sure to go looking for one of those if you really want to be impressed and inspired.

 

 

Via Cindy Jones-Northern Virginia Real Estate & Military Relocation Services (RE/MAX Allegiance #1 RE/MAX Company in the World):

Former Real Estate Agent SentencedLate last week a fomer real estate agent who had been the target of an FBI investigation and subsequently indicted in 2009 has learned his fate.

Ruben Rojas and his family led a real estate and mortgage fraud scheme that resulted in losses to lenders to the tune of $9 Million Dollars.  Many of the homes that they were involved in flipping or tearing down to rebuild large McMansions subsquently turned into boarding homes in older Springfield neighborhoods. 

It was those boarding houses that led to complaints by neighborhood citizen groups which unraveled the mortgage fraud and subsequently the arrest of close to 20 people including Ruben Rojas his sister-in-law, Litcia Linares, his sister Lourdes Rojas Almanza and his two brothers Grovert Rojas and Jaime Nino Rojas.

Prosecutors were surprised when the judge sentenced Rojas to 5 years in prison and 5 years of supervised release. More than the recommended sentence.   He was also ordered to pay restitution in the amount of $9.5 million.   A lawful permanent resident from Bolivia, Rojas will be turned over to immigration authorities for deportation proceedings following his release from prison.

The results of  the Rojas scheme can been seen by anyone driving through neighborhoods in Springfield.  Most of the homes involved in the transactions have gone into foreclosure or have been sold as short sales.  The 30 transactions included in the indictment amount to $24 Million in illegal loans received with bogus documents created by the Rojas group.

Though the sentencing will not fix the sharp decline of home values in central Springfield, nor will it fix the blight that the McMansions leave among the older smaller homes but it should send a message to other agents who were involved in mortgage scams and flipping schemes.  The FBI and local authorites aren't going to let you off lightly when your day in court arrives.

 

 

Copyright 2006-13. Margaret Woda. All rights reserved.

  DISCLAIMER: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed and it is subject to change without notice.

________________________________________

Margaret Woda, Crofton Realtor


Margaret WodaMargaret Woda, REALTOR & Associate Broker
Long & Foster Real Estate, Inc., 2191 Defense Hwy., Crofton, MD 21114
Direct:  (410) 451-6245 or click on EMAIL

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4 Comments on Springfield VA-Former Real Estate Agent Sentenced to Five Year Prison Term

JUL
24
2010
371,795 Points 2 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

It is nice to read stories like this.  During the height of all this going on nobody really wanted to pay attention.  Bad people will always do bad things but it really did get ridiculous. ~ Doug

4:06pm • #1
506,872 Points 57 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Busted! Altho I'd like to know when they will see the 9.5 in restitution......

 

Was not sure if I was suppose to put this here or not, but I went back a searching for my first feature....

 

Pictures and Blogs

Is it safe to say I've come a long way?

7:10pm • #2
627,300 Points 8 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Margaret, people like this has infected so many markets across the country.  I'm waiting on the verdict of another group here in Springfield Missouri.

8:19pm • #3


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Margaret Woda, Maryland Real Estate & Military Relocation Services

Margaret Woda

Crofton, MD

More about me…

Long & Foster Real Estate, Inc., Crofton, MD 21114

Address: 2191 Defense Hwy., #120, Crofton, Bowie, and Davidsonville, MD, 21114

Office Phone: (410) 721-1500

Cell Phone: (301) 346-2923

Email Me

Real Estate and community information for home buyers and sellers, military transferees, and rookie agents in the greater Crofton area, including Bowie, Davidsonville, Fort Meade, Gambrills, Odenton, and the U.S. Naval Academy in Annapolis.

EHO



Margaret Woda




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