Irvine attorney guilty of mortgage fraud

SANTA ANA - A federal jury has found an Irvine attorney guilty of a mortgage-fraud scheme in which 15 mostly foreclosed homes in Orange County were purchased at inflated prices.

After a 10-day trial, jurors deliberated about an hour before convicting Gerald L. Wolfe, 41, a lawyer who was formerly a registered real estate broker, on one count of conspiracy to commit wire fraud.

He faces a maximum of 20 years prison at his Aug. 29 sentencing by U.S. District Judge Andrew J. Guilford, Assistant U.S. Attorney Brett Sagel said.

Courtesy Rachel Dollar - Mortgage Fraud Blog

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