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CALIFORNIA | LOCAL
January 12, 1992 | CHRISTOPHER PUMMER and CAITLIN ROTHER, SPECIAL TO THE TIMES
The FBI is investigating a Ventura County real estate brokerage that also operates in the San Fernando Valley for possible bank fraud violations, The Times has learned. Lamb Realty and an escrow firm also owned by Ray E. Lamb allegedly overstated to lenders the selling prices of homes so that the excess amount could be used by buyers who lacked the necessary down payment to qualify for mortgages, real estate sources said.
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CALIFORNIA | LOCAL
January 12, 1992 | CHRISTOPHER PUMMER and CAITLIN ROTHER, SPECIAL TO THE TIMES
The FBI is investigating a Ventura County real estate brokerage that also operates in the San Fernando Valley for possible bank fraud violations, The Times has learned. Lamb Realty and an escrow firm also owned by Ray E. Lamb allegedly overstated to lenders the selling prices of homes so that the excess amount could be used by buyers who lacked the necessary down payment to qualify for mortgages, real estate sources said.
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CALIFORNIA | LOCAL
June 10, 1998 | PAMELA J. JOHNSON and MIGUEL BUSTILLO, SPECIAL TO THE TIMES
Ray Emery Lamb, once the chief of Ventura County's largest real estate brokerage, pleaded guilty Tuesday to federal fraud charges of hiding assets after his firm had declared bankruptcy. Lamb, 50, entered the plea before U.S. District Judge Audrey B. Collins, who is scheduled to sentence him Aug. 31 in Los Angeles, Assistant U.S. Atty. Leslie A. Swain said. Lamb faces up to five years in prison and a $25,000 fine, Swain said.
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