Jury Convicts Real Estate Broker In $5.5M Mortgage Scheme

Law360, New York (January 23, 2013, 4:58 PM EST) -- A California federal jury on Tuesday convicted a real estate broker on fraud charges over a residential real estate scheme that overstated property values and misrepresented buyers’ abilities to repay loans that cost lenders more than $5.5 million in losses.

Hoda Samuel, 60, was found guilty of a conspiracy to commit mortgage fraud and of more than two dozen counts of mail fraud, for a scheme she ran through her real estate agency Liberty Real Estate & Investment Co., according to a statement Wednesday by the...
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