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Five Plead Guilty, One on the Run
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November 24, 2008
A $16 million mortgage fraud scheme in California led to five pleading guilty to conspiring to commit wire fraud, while one co-defendant is still being sought.
Rafael Santiago, Angel Armendariz, Abner Betech, Aviva Betech and Said Betech admitted to participating in a fraud scheme while working out of Creative Financial Solutions, Inc. Lucette Montane was also indicted, but remains at large. The group falsified loan documents in order to get loans funded. All the properties involved in the $16 million scheme have been foreclosed on or are in the process of being foreclosed.
Sentencing is set for Armendariz is set for April 20, and sentencing for Santiago and the Betechs is set for April 13.
Read story at Imperial Valley News
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