California man receives nearly eight years in prison for real estate fraud

Gilberto Barron, 26, was sentenced to seven years and 10 months in federal prison for his role in a 10 million dollar real estate fraud scheme, MPA Magazine reported. US District Judge Jennifer L. Thurston handed down the sentence in the Eastern District of California. [1]

MPA Magazine reported that Barron, formerly of Delano and Las Vegas, pleaded guilty on June 29 to charges of conspiracy to commit wire fraud, conspiracy to commit money laundering, and aggravated identity theft. The fraudulent scheme deceived real estate buyers across California's Central Valley. [1]

According to MPA Magazine, the operation relied on fabricated identities, shell companies, and counterfeit property documents, including fake deeds, to execute the fraudulent transactions. [1]

Mortgage fraud involves an intentional misstatement, misrepresentation, or omission of information that an underwriter or lender relies upon to fund, purchase, or insure a loan secured by real property. [6]