Homebuilder to pay $11 M for Bank Fraud & Mortgage Scam |
Sunday, 05 June 2016 |
Seeno company charged with bank fraud, fined $11 million
Six years after federal agents raided the Seeno homebuilder headquarters, federal prosecutors Friday criminally charged Discovery Sales with bank fraud and the East Bay familyâs company will plead guilty and agree to pay $11 million in fines and restitution, according to unsealed court documents. ... scam that allowed the Seeno companies to continue selling properties at high prices during the housing market downturn by obtaining mortgages through illegal means.
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