Four plead guilty to dozens of mortgage fraud charges

| KTVU Oakland ^ | Feb. 3, 2012 | KTVU Oakland

[moonshinner_09]

DISCOVERY BAY, Calif. — Three women and one man pleaded guilty in federal court Friday to a $20 million crime that involved wire fraud, tax evasion and harboring illegal immigrants, and one of the alleged victims was a relative.

Three and a half years after being indicted, Ronald Nelson, his second wife, Edith Nelson, and two former mortgage brokers pleaded guilty to dozens of charges tied to a mortgage loan fraud scheme.

Kim Funke, the daughter of Ronald Nelson, said she was one of the victims. "It was kind of a sickening feeling," Funke said.

Internal Revenue Service Special Agent Arlette Lee said the Nelsons and two others secured more than 60 fraudulent mortgages.

[moonshinner_09]

The Nelsons would obtain properties, and they turned many of them into senior care facilities and would hire illegal immigrants to work as caregivers for the residents, . This is gross negligence and to work as a caregiver at any nursing home, one must also be licensed by the state to do so. Families if they are smart they will sue these nursing homes for everything they got.

[hoosiermama]

According to NPR via NYT
NEWT leads Mitt 39-32
when FL vote divided per RNC rules!

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Encourage them to do the RIGHT thing, end the FL fiasco NOW, Play by the rules!

[GeronL]

how much did these 4 donate to Obama?

[kjo]

These people are small potatos. A federal grand jury should be looking at Chris Dodd and Barney Frank...probably the former Governor of NJ too.

Those are the guys who make the real money and almost always skate away...with a lot of money in off-shore banks.

[hoosiermama]

Maybe Wikileaks should have gotten account holder names list on Off Shore Banks....Romney had 23 accounts IIrC.

[lbryce]

However severe their punishment may be, their crimes mean nothing compared to those whose criminal facilitation created an economic disaster of unprecedented proportions.

[beef]

There is so much blame to go around for the mortgage crisis, it is hard to know where to begin. But, I am pretty sure that in the last 25 years the vast majority of mortgage brokers have at one time or another committed fraud to get loans approved, and they in no small part are culpable. And the appraisers are right up there with them. It is good to see some get nailed.

[wideminded]

how much did these 4 donate to Obama?

The indictment was 3 1/2 years ago, so they probably haven't been doing a lot of donating lately. According to opensecrets.org. Ronald Nelson of Discovery Bay, Ca. donated a total of $875 to the National Republican Senatorial Committee in 2005.