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CON MAN PLEADS GUILTY - MULTI MILLION DOLLAR MORTGAGE & PONZI FRAUD
Con Man Agrees to Plead Guilty in Three Fraud Schemes, Including Multi-Million-Dollar Ponzi and Separate Mortgage Fraud Scheme   LOS ANGELES—A Glendale man has agreed to plead guilty to federal fraud charges, admitting that he ran three separate scams, including a Ponzi scheme that defrauded 30 families out of more than $8 million.
Kaveh Vahedi has also admitted his role in a mortgage fraud scheme that submitted hundreds of falsified loan applications to banks through his brokerage firm, Countywide Financial. Vahedi has also acknowledged stealing more than $700,000 from his parents by draining their bank accounts and taking out a loan on their home.
Vahedi, 51, who has been in federal custody since last May, entered into a plea agreement with prosecutors that was filed late Monday in United States District Court. Vahedi agreed to plead guilty to one count of wire fraud in connection with the Ponzi scheme and one count of conspiracy in relation to the mortgage fraud scheme. Vahedi also agreed to plead guilty to one count of bank fraud to resolve a previously filed criminal case related to the fraud against his parents.
Vahedi is scheduled to plead guilty tomorrow morning before United States District Judge Dean ... more

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