Beware of who you deal with.
Wills found the pair engaged in fraudulent business practices, including loan fraud, and imposed a civil penalty of $120,425 and victim restitution of $29,575.
The case came to officials’ attention after an elderly woman filed a complaint, prosecutors said.
Investigators found Silva and Gobert knowingly falsified the woman’s income information on two loan applications.
She lost her home after the brokers signed her up for two adjustable-rate mortgage loans that she couldn’t afford to repay on her limited income, prosecutors said.
Silva’s real estate broker license was revoked by the Bureau of Real Estate in 2004 for loan fraud, but she continued to act as a broker until 2010.
Estates on the Bay Guilty Of Fraud
Mark. Those. Words.
Update 2015 – they were found guilty.
An attorney for a Pacific Grove real estate company accused by Monterey County prosecutors of fraudulent practices said Thursday the case is without merit.
“We are confident that will be the outcome,” said Bill Daniels, a Monterey attorney representing Estates on the Bay Inc.
The District Attorneys Office this week filed a civil complaint against the company and co-owners Susana Silva and Deanna Gobert accusing them of falsifying loan applications, recommending transactions to pump up their commissions and advising loans without regard to clients’ best interests.
Estates On The Bay Lawyer Confident In The Outcome
Real estate people – sheeshe.
A civil complaint filed against a Pacific Grove real estate company by Monterey County prosecutors accuses the firm and two sisters who own it of engaging in fraudulent business practices.
The suit, which seeks a permanent injunction, civil penalties and restitution for consumers, was filed Monday against Susana Silva and Deanna Gobert and their company, Estates on the Bay Inc.
Silva continued to solicit clients, negotiate loans and prepare loan applications though the company told state real estate officials that she divested her interests in the firm and was no longer its supervising broker, the suit says.
Estates On The Bay Sued