Las Vegas Attorney Guilty in Scheme to Erase $800+k in Mortgage Debt

By
Education & Training with (retired) TN LIC# 290452

Las Vegas Defense Attorney Pleads Guilty in

Scheme to Erase More Than $800,000 in

Mortgage Debt


Transferred Duffel Bag with $290,000 in Cash to

His Brother-in-Law to Finance Sham Short Sale

U.S. Attorney’s Office February 02, 2015
  • Southern District of California (619) 557-5610

LAS VEGAS—

Luis J. Rojas,

a Las Vegas criminal defense attorney, pleaded guilty today in federal court to making false statements in connection with a fraudulent “short sale” of his property in Henderson Nevada.

As detailed in the plea agreement, Rojas purchased a single family home in 2006, for $935,430, which he financed by taking out two mortgages from Homecomings Financial Network, a GMAC company (“GMAC”). Rojas then lived in the home until February 2011, when he sent an offer to GMAC, proposing a “short sale” of the property for $288,000. Under the terms of the offer, Rojas would sell the property to an unrelated buyer; and, after the sale was complete, Rojas would be relieved of his obligation to repay the $935,430 in mortgages. GMAC agreed to the sale, on the condition that Rojas was not affiliated with the buyer.

What Rojas failed to disclose to GMAC was that his brother-in-law was acting as a “straw buyer,” and that Rojas was providing him with the money necessary to conduct the “sham” transaction. In reality, Rojas would be purchasing the property from himself. To effectuate the scheme, Rojas traveled to several bank branches in Las Vegas and Henderson Nevada, and withdrew a total of $290,000 in cash from his personal bank account and that of his wife. He then collected the bulk cash in a duffel bag and gave the bag to his brother-in-law. His brother-in-law then used the funds to complete the purchase of the house from Rojas for $289,822.08. Rojas, however, never moved out of the home, and one month later, Jacobs transferred title back to Rojas. The net result was that Rojas eliminated his $935,430 mortgage obligation, and now owned his home outright.

As further detailed in the plea agreement, Rojas also made false statements in connection with his earlier attempts to refinance his home. Specifically, Rojas attempted to renegotiate his mortgage, claiming that he could no longer afford his monthly payments. As part of the negotiation process, Rojas submitted a financial disclosure form, in which he hid the fact that he maintained a brokerage account with liquid assets totaling more than $134,000.

Rojas faces a maximum sentence of five years in prison and a fine of up to $250,000, or twice the pecuniary gain or twice the pecuniary loss from the offense. Sentencing is scheduled for June 1 at 10 a.m. before U.S. District Judge James C. Mahan.

DEFENDANTS 14-CR-403-JCM-GWF

  • Luis J. Rojas
  • Age 38
  • Henderson, Nevada

CHARGES

Making a False Statement in a Matter Within the Jurisdiction of the United States Department of Housing and Urban Development, in violation of 18 U.S.C. § 1001.

AGENCY

Federal Bureau of Investigation

This content has been reproduced from its original source.
Posted by



David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
International
Groups:
Realtors®
The Lounge at Active Rain
HyperLocal Neighborhood and Community Posts
ActiveRain Challenges
Real Estate Fraud
Tags:
real estate fraud

Spam prevention
Show All Comments
Rainmaker
475,557
Dale Bledsoe
Crown Key Realty - Tracy, CA
Realtor in Tracy, California

Very simple. Glad he was caught and convicted. Lying, cheating and stealing should never be the answer.

Feb 03, 2015 03:55 AM #1
Rainmaker
1,570,710
David Saks
(retired) - Memphis, TN

Prevarication is thought of as a virtue to some lawyers, Dale Bledsoe .

Feb 03, 2015 09:10 PM #2
Rainmaker
908,388
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

What a dumb criminal. He got caught when he transferred title back to himself. There are attorneys who think they are above the law. 

Feb 04, 2015 10:51 PM #3
Rainmaker
1,570,710
David Saks
(retired) - Memphis, TN

Indeed there are, Pamela. Too many of them.

Feb 05, 2015 04:08 AM #4
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,570,710

David Saks

May God Bless You, Always. David
*
*
*
*
Spam prevention

Additional Information