A brazen bank fraud scheme has shaken the financial world in Oregon, with a Portland man behind bars for his role in the crime. Alireza Zamanizadeh, 63, also known as Ali Zamani, pleaded guilty to bank fraud, a charge that carries a punishment of up to 30 years in prison, a $1 million fine, and three years’ supervised release.
According to court documents, Zamanizadeh’s scheme involved using a residential property in Bend, Oregon as collateral for obtaining a loan worth $316,092. The property, however, was not owned by Zamanizadeh, but by another individual. To facilitate the loan, Zamanizadeh forged the property owner’s signature on a statement verifying the property transfer as required by the mortgage lender and title company processing the loan.
Zamanizadeh’s actions were not limited to just one property. He also filed a quitclaim deed in Deschutes County, transferring the property to his business for a mere $1 without the property owner’s consent. A quitclaim deed is a document used to quickly transfer the ownership of real property from one party to another.
As a result of Zamanizadeh’s false representations, the mortgage company approved the loan and transferred the funds to his bank account. This brazen move led to the victim losing hundreds of thousands of dollars.
The investigation into Zamanizadeh’s activities was conducted by the IRS-Criminal Investigation, with assistance from the FBI. The case is being prosecuted by Katherine A. Rykken, Assistant U.S. Attorney for the District of Oregon. Acting U.S. Attorney Scott Erik Asphaug of the District of Oregon made the announcement.
Zamanizadeh will be sentenced on January 4, 2022 before U.S. District Court Judge Anna J. Brown. As part of the plea agreement, Zamanizadeh has agreed to pay $400,000 in restitution to his victim and has transferred a second residential property in Clark County, Washington back to the victim.
Related Federal Cases
- Chae Sun Kim Gets 39 Months for ID Theft, Bank Fraud · Washington
- Election Fraud Task Force Activated in Oregon · Rhode Island
- Navis Sablan Sentenced in $25K Bank Fraud Scheme · Rhode Island
- Paul Harold Doughty Jailed for Bank Fraud Scheme · Washington
- Thackerville Woman Pleads Guilty to Bank Fraud Scheme · Washington
Key Facts
- State: Oregon
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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