Man Sentenced for Roseville and Rocklin Real Estate Scheme
SACRAMENTO, CA- Alexander A. Romaniolis, 48, of Irvine, was sentenced by United States District Judge Troy L. Nunley to 30 months in prison and a $17,500 fine and forfeiture of more than $400,000 for mortgage fraud, United States Attorney Benjamin B. Wagner announced.
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 the properties were foreclosed on, resulting in a total loss of more than $2 million.
At sentencing, Romaniolis asked to be released for a short period so he could see his family before completing his sentence. Judge Nunley denied that request.
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 Attorneys Jean M. Hobler and Jeff
Print This Article
Placer County News HeadlinesRoseville Financial Advisor Sentenced for Ripping Off ClientsMichelle Lee Kern, 36, who worked as a licensed financial advisor at Ameriprise Financial Services Inc. in Roseville has been sentenced to 46 months in prison.
Roseville, Rocklin among California's Best Cities for Home OwnershipIn a recent Nerd Wallet report, Rocklin, Folsom, and Roseville, rank 11th through 13th (respectively) among California's Best Cities for Homeownership.
Hidden Falls Regional Park Receives GrantPlacer County's "gem of the foothills," Hidden Falls Regional Park, is the recipient of a grant that will fund innovative projects protecting long-term ecological values and economic viability
Roseville Developer Begins Senior Community in Elk GroveUSA Properties Fund will hold a groundbreaking ceremony for Arbor Creek Senior Apartments at 10:30 a.m., Aug. 4, at the project site located at Elk Grove-Florin and Calvine roads
Rep. Tom McClintock Announces August Town Hall MeetingsRoseville, CA -- U.S. Rep. Tom McClintock (CA-04) has announced a series of town hall meetings in August.
Lincoln Man Serving Aboard the Navy's USS SomersetPetty Officer 1st Class Brian West, an aviation boatswain's mate from Lincoln, Calif. and 2003 graduate of Lincoln High School, is serving in the U.S. Navy aboard USS Somerset
California Would Create More Jobs Without Prop 30In his recent piece for The Sacramento Bee, "State's job growth defies predictions after tax increases," David Cay Johnston argues that California's recent job creation numbers prove
Sacramento County Opposes Bay Delta Conservation PlanThis week the Sacramento County Board of Supervisors formally submitted comments challenging the findings of the Bay Delta Conservation Plan (BDCP) state environmental
Roseville to Host Senior Softball Western National ChampionshipsRoseville will play host this August to the Senior Softball Western National Championships
Roseville Crime Report Digest Update (7.29.14)Roseville, CA - The Roseville Police Department weekly crime report digest update for July 29, 2014.
Different Standards From Mortgage LendersJulie Jalone of MagnumOne Realty in Roseville, reports on a recent Fannie Mae survey which indicates there may be a growing difference in credit standards between small and large lenders. Which do you think has the tighter credit standards? Check out Julie's article and find out.
PCWA Comments on Bay Delta Conservation PlanDrought Watch: PCWA expresses concern about future water supply reliability for Placer County and claims EIR fails to consider key issues.