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Real Estate Fraud Orange County

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CALIFORNIA | LOCAL
August 10, 2001 | MONTE MORIN, TIMES STAFF WRITER
Federal prosecutors charged two real estate speculators Thursday with fraud, alleging that the men engineered a mortgage scheme that ultimately created one of Orange County's most notorious apartment slums. The U.S. attorney's office said the defendants' actions caused the Haster Gardens apartment complex to default on $8.3 million in loans and go into foreclosure. That triggered its slide into a state of disrepair, according to court documents.
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CALIFORNIA | LOCAL
August 10, 2001 | MONTE MORIN, TIMES STAFF WRITER
Federal prosecutors charged two real estate speculators Thursday with fraud, alleging that the men engineered a mortgage scheme that ultimately created one of Orange County's most notorious apartment slums. The U.S. attorney's office said the defendants' actions caused the Haster Gardens apartment complex to default on $8.3 million in loans and go into foreclosure. That triggered its slide into a state of disrepair, according to court documents.
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BUSINESS
September 10, 1994 | GREG JOHNSON, TIMES STAFF WRITER
A local man who bilked 125 investors out of $11 million signed an agreement Friday prohibiting him from future violations of securities laws. Richard Carl Huitt, 41, had already been sentenced to eight years in prison after pleading guilty to fraud in connection with a bogus second trust deed sales program. He was also ordered to pay $8.7 million in restitution.
BUSINESS
October 18, 2000 | E. SCOTT RECKARD, TIMES STAFF WRITER
Federal agents are conducting a criminal investigation of a Brea real estate investment firm that was accused earlier this month by securities regulators of raising $156 million in an alleged scheme to defraud the elderly, according to new documents filed in the case. Documents in Santa Ana federal court indicate that IRS and FBI agents raided the Brea offices of TLC America Inc. and the Diamond Bar home of the firm's chief executive, E. Frank Cossey.
BUSINESS
July 2, 1999 | GREG HERNANDEZ, TIMES STAFF WRITER
A 72-year-old Irvine man has admitted to being one of the masterminds behind a scheme, tied to oil well investments, that bilked more than 200 people out of a total of $5 million, the Orange County district attorney's office said Thursday. Sidney Binder, who owns several oil wells in Texas and Oklahoma, pleaded guilty to selling unregistered securities. He faces up to two years in prison when he is sentenced on Aug. 27 in Orange County Superior Court, according to Deputy Dist. Atty.
CALIFORNIA | LOCAL
October 22, 1993 | ERIC YOUNG
Authorities on Thursday arrested a Newport Beach real estate investment executive who along with a partner allegedly netted about $9 million in one of the county's largest business scams, prosecutors said. Police arrested David James Cook, 49, shortly before noon Thursday in San Luis Obispo in connection with a warrant issued Monday when the Orange County Grand Jury indicted him on 13 counts of grand theft.
BUSINESS
May 13, 1995
Sorry, Larry Stewart, but Jim Thorpe's accomplishments do not pale in comparison with current standards (Morning Briefing, May 1). Your denigrating remarks are an insult to American history. Remember (no, you wouldn't), for running events, no starting blocks, no artificial composition surfaces. For pole vault, a stiff bamboo pole--no spring-loaded catapult. In the weights, technique was a couple of jumps, a couple of hops--no swirling centrifugal force thrust.
BUSINESS
November 27, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
Former Huntington Beach developer Harold E. Tobin consented to a $3.75-million judgment in a securities fraud lawsuit, federal regulators said Wednesday. But he won't be paying any money back. The repayment was waived based on sworn statements that Tobin, 57, now of Rancho Mirage, is broke, according to the Securities and Exchange Commission, which brought the lawsuit. The judgment, however, orders him not to violate securities registration and anti-fraud provisions of securities laws.
CALIFORNIA | LOCAL
June 23, 1996 | LEN HALL, TIMES STAFF WRITER
A spot-check of a relative's home Saturday led investigators to the arrest of a fugitive who had been on the run for eight years after jumping bail in connection with a $2-million real estate scam, police said. Clifford Dale Keller Jr., 55, of Bakersfield, who had pleaded guilty to grand theft and forgery in 1988 but disappeared before his sentencing date, was arrested at a Norwalk shopping center at 1 p.m., said Sgt. Jim Wells of the La Palma Police Department.
CALIFORNIA | LOCAL
March 22, 1996 | GEOFF BOUCHER
Two Orange County men were ordered this week to stand trial on charges of conspiracy, burglary and possession of stolen property after allegedly breaking into vacant properties, changing the locks and illegally renting the sites out to unsuspecting new tenants.
BUSINESS
October 18, 2000 | E. SCOTT RECKARD, TIMES STAFF WRITER
Federal agents are conducting a criminal investigation of a Brea real estate investment firm that was accused earlier this month by securities regulators of raising $156 million in an alleged scheme to defraud the elderly, according to new documents filed in the case. Documents in federal court in Santa Ana indicate that agents from the Internal Revenue Service and FBI raided the Brea offices of TLC America Inc. and the Diamond Bar home of the firm's chief executive, E. Frank Cossey.
BUSINESS
July 2, 1999 | GREG HERNANDEZ, TIMES STAFF WRITER
A 72-year-old Irvine man has admitted to being one of the masterminds behind a scheme, tied to oil well investments, that bilked more than 200 people out of a total of $5 million, the Orange County district attorney's office said Thursday. Sidney Binder, who owns several oil wells in Texas and Oklahoma, pleaded guilty to selling unregistered securities. He faces up to two years in prison when he is sentenced on Aug. 27 in Orange County Superior Court, according to Deputy Dist. Atty.
BUSINESS
September 15, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Hal A. Tobin, the beleaguered former Huntington Beach developer who allegedly defrauded investors of nearly $60 million, has been hit with a third civil suit in Orange County Superior Court. Tobin, who lives in a gated Rancho Mirage golf club community but filed sworn statements in a federal securities fraud case late last year asserting that he is penniless, was sued Thursday by Robert and Susan Hansen, who say they were defrauded of $1.2 million.
BUSINESS
November 27, 1997 | JAMES S. GRANELLI, TIMES STAFF WRITER
Former Huntington Beach developer Harold E. Tobin consented to a $3.75-million judgment in a securities fraud lawsuit, federal regulators said Wednesday. But he won't be paying any money back. The repayment was waived based on sworn statements that Tobin, 57, now of Rancho Mirage, is broke, according to the Securities and Exchange Commission, which brought the lawsuit. The judgment, however, orders him not to violate securities registration and anti-fraud provisions of securities laws.
NEWS
March 4, 1997 | BETH SHUSTER ALAN ABRAHAMSON and MATT LAIT, TIMES STAFF WRITERS
Federal agents Monday sought to link the gunmen who died in the North Hollywood bank robbery to a murder and two armored car heists, as court records revealed that the robbers had been allowed to recover large amounts of weapons paraphernalia confiscated after a 1993 arrest. A number of similarities between Friday's bloody robbery attempt and the two armored car assaults in the San Fernando Valley, including the use of automatic weapons, make investigators suspect that Larry Eugene Phillips Jr.
CALIFORNIA | LOCAL
June 23, 1996 | LEN HALL, TIMES STAFF WRITER
A spot-check of a relative's home Saturday led investigators to the arrest of a fugitive who had been on the run for eight years after jumping bail in connection with a $2-million real estate scam, police said. Clifford Dale Keller Jr., 55, of Bakersfield, who had pleaded guilty to grand theft and forgery in 1988 but disappeared before his sentencing date, was arrested at a Norwalk shopping center at 1 p.m., said Sgt. Jim Wells of the La Palma Police Department.
BUSINESS
October 18, 2000 | E. SCOTT RECKARD, TIMES STAFF WRITER
Federal agents are conducting a criminal investigation of a Brea real estate investment firm that was accused earlier this month by securities regulators of raising $156 million in an alleged scheme to defraud the elderly, according to new documents filed in the case. Documents in Santa Ana federal court indicate that IRS and FBI agents raided the Brea offices of TLC America Inc. and the Diamond Bar home of the firm's chief executive, E. Frank Cossey.
BUSINESS
June 22, 1994
A Tustin lawyer who is appealing the dismissal of a fraud suit against the Irvine Co. has filed a similar lawsuit, alleging that the real estate developer misled people into believing that units it had rented were apartments when, in fact, they were condominiums. The lawyer, L. Scott Karlin, said Monday that the new lawsuit simply preserves certain rights of 239 individual tenants who, his suit contends, were forced to leave complexes that were built as condos but marketed as apartments.
CALIFORNIA | LOCAL
March 22, 1996 | GEOFF BOUCHER
Two Orange County men were ordered this week to stand trial on charges of conspiracy, burglary and possession of stolen property after allegedly breaking into vacant properties, changing the locks and illegally renting the sites out to unsuspecting new tenants.
NEWS
January 27, 1996 | LEE ROMNEY, TIMES STAFF WRITER
Two Laguna Niguel men have been arrested on charges of stealing $80,000 worth of belongings from a Nellie Gail home over the Christmas holiday, and one also has been charged with leasing out vacant homes that didn't belong to him, sheriff's officials said. Henry Aguilar, 55, and Lance Kipper, 25, were arrested Thursday morning after they tried to flee from deputies through the back door of a home where they were living, Sheriff's Lt. Ron Wilkerson said.
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