A federal grand jury in Sacramento has returned indictments in two separate California mortgage fraud cases.
In the first case, five defendants from Elk Grove and Fair Oaks were charged with 11 counts of mail fraud related to their alleged operation of a mortgage fraud scheme. The men changed their names to Muslim names to obtain new credit, according to a report from California RealEstateRama:
The indictment alleges that Glenn Watkins legally changed his name to “Rasheed Khaleb” to fraudulently purchase two homes. Once those homes fell into foreclosure, he legally changed his name to “Jason Johnson.” Likewise, the indictment alleges that Kevin Watkins changed his name to “Jamal Ali” then to “Calvin Carter.” Their uncle, Frederick Davis, allegedly changed his name to “Ammar Rashad,” to purchase a home, then to “Corey Green” once that home fell into foreclosure. Paul Yearby Jr. legally changed his name to “Malcom Ali” in order to execute the fraud scheme.
In the second case, a Roseville man was charged with making false statements to financial institutions on four mortgage applications for two residential properties in Lincoln and Roseville.
Both cases are the result of an ongoing investigation by the FBI and the IRS.