Claudia Montes, Mortgage Fraud, California 2014

A San Diego woman has been sentenced to 20 months in federal prison for her role in a multi-million dollar mortgage fraud scheme.

Claudia Montes, 20 months in custody for her role in a multi-million dollar mortgage fraud scheme between 2005 and 2008.

The scheme involved Montes and her co-conspirators obtaining proceeds from approximately 80 mortgage loans by making false representations on the loan applications regarding their respective salaries and assets, among other things.

The conspirators’ failure to pay back the loans resulted in defaults and the foreclosure of approximately 28 properties in San Diego and Orange Counties. At one time, the properties included approximately 25 residences in the Talmadge neighborhood of San Diego.

Montes also acknowledged that she and other straw buyers falsely claimed ownership of a co-conspirator’s bank account in order to falsely represent their assets and obtain loans for which they would not otherwise be eligible.

Montes was sentenced to concurrent terms for wire fraud and conspiracy and ordered to pay over $1 million in restitution for the losses resulting from the fraudulent loans she allowed to default.

Other co-conspirators included Kathryn Sylvester, Tad Lent, Roderick Michener, and Timothy Shannahan. Michener pleaded guilty on April 4, 2013, to conspiring with Sylvester to commit bank fraud (Case No. 13CR1130-CAB).

San Diego, CA – United States Attorney Laura E. Duffy announced that Claudia Montes was sentenced today by U.S. District Court Judge Janis L. Sammartino to 20 months in custody for her role in a multi-million dollar mortgage fraud scheme between 2005 and 2008

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