Tiburon Real Estate Broker Pleads Guilty To Loan Fraud
Tuesday August 2nd, 2011 the Marin independent Journal reported that:
" A Tiburon Real Estate broker has pleaded GUILTY to Federal Fraud charges stemming from a Five Million Dollar re-financing loan on his own home the IRS reported. Abraham Valentino, 52, pleaded guilty as charged last week to wire fraud, and money laundering, said IRS special agent Arlette Lee. Authorities said Valentino falsified his income on his loan application, claiming a monthly income was $132,000 when it was actually $4,500 to $6000. Valentino used the proceeds of the transaction to transfer $63,427.40 into his personal bank account prosecuters said."
For the whole article, click here: Tiburon Real Estate Broker Pleads Guilty