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A blog about the economy and the Sacramento-area real estate market.

February 20, 2009
Feds, state announce charges in two mortgage fraud cases

Two big mortgage cases, with charges related to properties in Nevada City and elsewhere in the region, went to a new level this afternoon:

The U.S. Attorney's office issued this report about an indictment of five people, including one from Olivehurst, on charges of bank fraud.

State Attorney General Jerry Brown has also weighed in with charges against Nevada County broker Thomas Hastert, alleging he "brazenly deceived" investors and borrowers, embezzled fees, and filed false paperwork. The charges say Hastert raised $20 million from investors.

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