yellow pages news jobs local specials coupons hotels events calendar movie times RSS News Feeds
Rocklin and Roseville Today
   |   Current Temp: 66.0 F (18.9 C)
 

Guilty Plea in Roseville and Rocklin Mortgage Fraud





Alexander A. Romaniolis, 48, of Irvine, recently pleaded guilty to mortgage fraud, United States Attorney Benjamin B. Wagner announced. A federal grand jury returned the three-count indictment on March 21, 2013, charging Romaniolis with mail fraud.

According to court documents, Romaniolis recruited five straw buyers to purchase eight California residential properties in Rocklin, Roseville and San Clemente.

Romaniolis assisted the straw buyers in providing false information to lenders about their employment, income, assets, and intent to occupy properties as primary residences. In most cases, the straw buyers claimed to be executives of companies created and controlled by Romaniolis. He was responsible for the origination of more than $5 million in residential mortgage loans in the scheme. All of the properties were foreclosed on, resulting in a total loss of more than $2 million.

This case is the product of an investigation by the Federal Bureau of Investigation and the California Attorney General's Mortgage Fraud Task Force. The Huntington Beach Police Department assisted in the arrest. Assistant United States Attorney Jean M. Hobler is prosecuting the case.

Romaniolis is scheduled to be sentenced on March 27, 2014. He faces a maximum statutory penalty of 30 years in prison and a $1 million fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.





more news Print This Article


Placer County News Headlines

Stabbing in Roseville at Saugstad ParkRoseville, CA -- KCRA has reported a stabbing in Roseville's Saugstad Park. Click for Full Details

Roseville 2014 set for May 15thPresented by the Roseville Chamber of Commerce, Roseville2014 is the region's signature business event, bringing together nearly 800 local and regional business leaders, elected officials and community influencers.

Big DoG Countdown: Placer Breast Cancer EndowmentBig DoG Countdown: Learn how Placer Breast Cancer Endowment impacts our community.

Free Seminar Targets Sexting, Child and Teen PornographyRoseville, CA -- Life Community Church is hosting a seminar entitled "Sexting and child and teen pornography.what's a parent to do?" on Sunday, April 27 from 2p.m. to 5 p.m. at its facilities, 10020 Foothills Blvd

Northern California Invitational Rugby Tournament On April 26 and 27, The Northern California Youth Rugby Association (NCYRA), in conjunction with Placer Valley Tourism, will host the 10th Annual Northern California Invitational Rugby Tournament

Roseville Crime Report Digest (4-24-14)The Roseville Police Department's crime report digest April 24, 2014.

The Great Banquet at Bayside Church May 17thJoni and Friends Sacramento will hold its annual special needs event called The Great Banquet at Bayside Church in Roseville on May 17. The free event will be a very special evening for people

Arrest in Rocklin $37K Embezzlement CaseFrederick Lacker is suspected of embezzling funds that had been entrusted to him for the daily operations of the non-profit organization.

Strategies for Move-up Home BuyersRoseville Realtor, Julie Jalone, writes about the growth of move-up buyers in the local real estate market and outlines some potential strategies and risks when selling a current home to buy a new one.

Big DoG Countdown: Gold Country Wildlife RescueBig DoG Countdown: Learn how Gold Country Wildlife Rescue impacts your community.

Placer County's Most Wanted: Christopher AcevedoRocklin, CA -- Placer County's Most Wanted highlights individuals being sought by police. 27 year old, Christopher Michael Acevedo, last known address of Rocklin, CA

Roseville Celebrate the Earth Festival 2014Enjoy free family fun at the 7th Annual Celebrate the Earth Festival from 10 a.m. to 3 p.m. on Saturday, April 26 at the Roseville Utility Exploration Center, 1501 Pleasant Grove Blvd., in Mahany Regional Park




more news