These two were really small potatoes glomming only $777,000 (that they’re indicted for). In our area, where it took more than 5 years to indict perpetrators charged with over 200 fraudulent transactions and more than $140 million in ill-gotten gains, it is really really sweet to see these people getting cracked for just 2 deals and under $1 million.
There were numerous people in our market who, encouraged by the lack of timely prosecution of the Stonewood Gang, pulled off one or two or 6 of these kind of transactions, pocketed their $50,000 – $500,000 and sank back under the radar.
You know who you are. We know who you are. And with any luck and Karma, the AG, the DA, the USAO, FBI or SEC will be announcing who you are so all your neighbors know who you are as well. Don’t get too comfy yet – sometimes the wheels of justice grind exceedingly slow – but they do grind very fine. Keep looking over your shoulder.
Felix Pichardo, 27, was sentenced by United States District Judge Stephen V. Wilson. Pichardo pleaded guilty before Judge Wilson in September, admitting that he used the identities of two victims to obtain mortgage loans for properties that were not for sale.
… Pichardo sought out elderly vulnerable victims and that he poses a danger to the community.
According to court documents, Pichardo, a licensed real estate agent, and his co-defendant Latrice Shaunte Borders, 29, of Long Beach, participated in two separate fraudulent real estate sales transactions. Pichardo, using identities appropriated from other people, caused loan applications to be submitted to AmTrust bank in the amounts of $417,000 and $360,000. The loan applications were submitted without the property owner’s knowledge for real estate which was not for sale. The proceeds of the two loans were deposited into bank accounts under the control of Pichardo and Borders.