Two dozen people (and counting) have been charged in a San Diego mortgage fraud scheme that was allegedly led by a street gang member. Prosecutors say that Darnell Bell, a confirmed member of Los Angeles’ Lincoln Park gang, conducted a wide-ranging fraudulent enterprise, in which he received at least $9 million.
Bell allegedly used his experience in the gang to recruit straw buyers for over 200 properties and maintain discipline across all the people involved in the scam. They used inflated appraisals to purchase homes that had been on the market for some time and paid extra money to a shell …read more

California senators yesterday voted to channel more funding toward the investigation and prosecution of real estate fraud in their state.