[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Clear
Clear
68°F
 
Calendar
Today in
S.C.V. History
October 18
1876 - Southern Pacific begins subdividing town of Newhall (original location at Bouquet Junction) [story]


[LASD] – On October 2, 2012, three Los Angeles area residents were indicted by a Federal Grand Jury in connection with a complex scheme that defrauded Bank of America and Fidelity National Title Company out of $1.5 million.

On October 5, 2012, the suspects were arrested at their homes by detectives from the Los Angeles County Sheriff’s Department’s Real Estate Fraud Team, and booked into the Metropolitan Detention Center in Los Angeles.

The suspects are identified as:

Saliya “Sal” DeSilva, male, 49, of Northridge;

Nora Yefima, female, 50, of Santa Clarita;

Vahe Hayrapetian, 45, of Burbank.

In July, 2009, the owner of a residential property on Gould Avenue in La Canada-Flintridge defaulted on $3.5 million in loans which were secured by the property.

Bank of America foreclosed on the property and took possession of it. In February, 2010, it is alleged that Saliya “Sal” DeSilva contacted Bank of America posing as the prior owner, provided Bank of America with counterfeit documents, and convinced Bank of America that the foreclosure was improper.

As a result, Bank of America rescinded the foreclosure, and DeSilva, a licensed real estate salesperson, listed the property for sale without the consent or knowledge of the prior owner.

In August, 2011, the property was eventually sold in a fraudulent short sale transaction after a title insurance company was given false information regarding the condition of the property, and was provided with counterfeit documents, including a fake Bank of America Short Sale Approval Letter stating that Bank of America had approved a sales price of $250,000.

The buyer used Loan Broker Vahe Hayrapetian to obtain a $1.5 million loan for the “purchase,” and the funds were wire transferred by the lender to Oshana Escrow in Encino.

It is alleged that Loan Broker Vahe Hayrapetian submitted materially false and fraudulent documents to the lender order to secure the $1.5 million loan.

It is also alleged that the owner of Oshana Escrow, Nora Yefima, sent false documents to the title insurance company, wire transferred a relatively small portion of the loan funds to the title insurance company for the fraudulent short sale, and then disbursed the rest of the funds, an amount exceeding $1 million, to several other parties who had nothing to do with the transaction.

The buyer of the property then defaulted on the loan which was fraudulently obtained by Vahe Hayrapetian, and since Bank of America never approved the short sale and continues to assert the validity of their $3.5 million in liens, there is insufficient equity in the property to compensate the subsequent lender for their $1.5 million loss. Fidelity National Title Company insured the lender and may have to reimburse them for the loss.

The charges in this case include Bank Fraud and Wire Fraud, United States District Court Central District of California, case numbers CR12-0959 and CR12-0960.

The investigation was conducted by the Los Angeles County Sheriff’s Department Real Estate Fraud Team, and the Federal Bureau of Investigation.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

1 Comment

  1. One large fraud case, when anyone could get a loan, thanks to Maxine Waters, Barney Frank, and Chris Dodd, I had an individual, now in jail, that was buying high end properties in the San Fernando Valley and using straw buyer(s) ( People that get paid to go in an sign all the documents in order to purchase a property supplying false information to obtain a ” no qualify ” loan. I had one straw buyer, a bus boy in Las Vegas Nevada that had bought 3 homes worth over a million each. His name showed up on title to all 3 properties.

Leave a Comment


SCV NewsBreak
Loading...
LOCAL NEWS HEADLINES
Tuesday, Oct 17, 2017
Rick Gould Retires as City’s Parks & Recreation Chief
After 16 years as director of Parks, Recreation and Community Service for the city of Santa Clarita, Rick Gould announced Monday he's retiring in mid-December.
Tuesday, Oct 17, 2017
National Teen Driver Safety Week Underway
Motor vehicle collisions are the leading cause of death for teenagers, ahead of all other types of injury, disease, or violence.
Tuesday, Oct 17, 2017
Resources, Outreach Available to SCV Victims of Elder Abuse
Elder abuse and scams targeting seniors are a growing problem, Santa Clarita detectives said, but there are numerous resources and protections available.
Keep Up With Our Facebook

Latest Additions to SCVNews.com
1876 - Southern Pacific begins subdividing town of Newhall (original location at Bouquet Junction) [story]
CalArts Center for New Performance (CNP), the professional producing arm of California Institute of the Arts, opens Fantômas: Revenge of the Image at Wuzhen Theatre Festival in Wuzhen, China, on Oct. 19.
Oct. 19: CalArts’ Fantomas: Revenge of the Image Premieres in China
The CSUN women's golf team fired rounds of 306-309 and is in fourth place, just eight shots off the pace at the Pat Lesser Harbottle Seattle University Invitational at the Tacoma Country and Golf Club in Tacoma, WA.
CSUN Just Eight Shots Off Pace At Washington Invitational
Tonight on SCV NewsBreak, Recreation, Community Services, Arts and Open Spaces Director Rick Gould announces retirement. Plus, the Board of Supervisors approve mental health care improvements. Check out these stories and more tonight on SCV NewsBreak.
SCV NewsBreak for Tuesday, October 17, 2017
The Advanced Technology Presentation about "Careers in the Making...Design, Engineering, Fabrication and More..." in celebration of National Manufacturing Day was a huge success.
SCV Students Gain Knowledge, Advice at National Manufacturing Day
A local company is expanding its footprint in the Santa Clarita Valley to accommodate business growth and another is relocating a division of its company from Sylmar.
Accurate Freight Systems Expands, Leases Space at IAC Commerce Center
The Domestic Violence Center (DVC) of Santa Clarita Valley is accepting applications for Adopt-a-Family 2017.
DVC of SCV Currently Accepting Adopt-a-Family 2017 Applications
Major Impact Theater, founded by Jill Garson and Shawnda Davis in 2014, is a non-profit theater group that specially adapts plays for performance by adults with disabilities in the Santa Clarita Valley.
Nov. 4: Major Impact Theater Presents Blunderland
California State University, Northridge will make history on Thursday, Oct. 26, by becoming the first California State University with a Sustainability Center.
Oct. 26: CSUN to Open Sustainability Center
Registration for the Purple Walk of Strength is now open.
Oct. 21: Purple Walk of Strength to Benefit Domestic Violence Center
Raising a child is a demanding job for any parent, especially when supportive resources seem to be elusive or nonexistent.
Oct. 22: CSUN Hosts Special Needs Resource Fair
College of the Canyons dominated its match vs. Bakersfield College from start to finish on Friday night, resulting in a 5-1 victory over the Renegades for the Cougars' first conference win of the season.
COC Gets First Conference Win of Season Against Bakersfield College
RIVERSIDE, Calif. — Following a two-week layoff, College of the Canyons cross country was back in competition on Saturday, running with a mix of community college and Division I programs at the Sixth Annual UC Riverside Highlander Invitational.
COC Cross Country Back in Competition After Two Week Layoff
The race to qualify for the Big West Conference Men's Soccer Tournament continues for CSUN this week with a home match against UC Riverside Wednesday night before the Matadors head to UC Irvine Saturday.
Oct. 18: CSUN Faces Off Against UC Riverside
After 16 years as director of Parks, Recreation and Community Service for the city of Santa Clarita, Rick Gould announced Monday he's retiring in mid-December.
Rick Gould Retires as City’s Parks & Recreation Chief
High school seniors whose dream is to make a difference in the world by majoring in science, technology, engineering or math (STEM) are invited to apply for Edison International’s $1.2 million Edison Scholars Program.
STEM Students Encouraged to Apply for Edison Scholars Program
Motor vehicle collisions are the leading cause of death for teenagers, ahead of all other types of injury, disease, or violence.
National Teen Driver Safety Week Underway
Elder abuse and scams targeting seniors are a growing problem, Santa Clarita detectives said, but there are numerous resources and protections available.
Resources, Outreach Available to SCV Victims of Elder Abuse
Despite rallying from an early 2-0 deficit, College of the Canyons dropped a 4-2 decision to visiting Victor Valley College on Friday.
Canyons Rally Not Enough To Hold Off Victor Valley College
The College of the Canyons baseball program and Playa Vista Orioles youth baseball organization will host a free instructional clinic for players ages 11-14 from 10 a.m. to 2 p.m. Saturday, Oct. 21, at Cougar Field.
Oct. 21: Youth Baseball Clinic at COC
Sacramento – In an effort to curb the fraudulent use of Disabled Person Parking Placards, the California Department of Motor Vehicles (DMV) has launched a statewide public awareness campaign to educate Californians about the proper use of disabled parking placards and the consequences of misusing one.
DMV Launches Statewide Campaign on Use of Disabled Parking Placards
A California State University, Northridge program that provides support to undergraduate students from underrepresented communities to pursue graduate degrees in the mathematical sciences has been named a 2017 Example of Excelencia in Education.
CSUN Math Program Lauded 2017 Example of Excelencia in Education
RE/MAX of Valencia will be hosting a blood drive benefiting Children's Hospital Los Angeles.
Nov. 1: RE/MAX Blood Drive to Benefit CHLA
Princess Cruises has officially announced its third annual Culinary Cruise Series, featuring famed Miami-based chefs Brad Kilgore and Scott Linquist.
Princess Cruises Will Feature Two Acclaimed Chefs in Culinary Cruise Series
1837 - Trapper Peter LaBeck killed by grizzly bear at El Tejon [story]
Tonight on SCV NewsBreak, Governor Brown signed off on a new bill that will change local water retailers distribute water in SCV. Plus, a spicy and savory Saturday for charity. Watch these stories and more on tonight's edition of SCV NewsBreak.
SCV NewsBreak for Monday, October 16, 2017
The Newhall School District's next Regular Board Meeting is Tuesday, October 17 at 6:15 p.m., and consideration of Newhall Family Theater approvals are on the agenda.
Oct. 17: Newhall School District Considers Newhall Family Theater OK
Master’s and Westmont College needed more than 90 minutes again Saturday to settle a Golden State Athletic Conference showdown in Santa Barbara.
Master’s Men Soccer Players Fall to Westmont in OT
Leaders from the CLWA and NCWC will meet in October, November and December to discuss their merger, which creates the Santa Clarita Valley Water Agency as of Jan. 1.
Next Step: Water Agency Officials to Share Merger Details
Master’s women soccer players and coaches alike were adamant after Saturday’s top-10 matchup that Westmont’s 5-2 win wasn’t nearly as lopsided as the score suggests.
Westmont Tops Master’s Women’s Soccer 5-2
Although Friday the 13th is a day generally associated with bad luck, CalArts turned the superstition on its ear as the community celebrated the inauguration of its fourth president, Ravi S. Rajan.
CalArts Inaugurates Ravi S. Rajan as Fourth President
CalArts School of Theater faculty Janie Geiser brings her collage film program "Double Vision" to REDCAT in downtown Los Angeles on Monday, Oct. 16 at 8:30 p.m.
Oct 16: ‘Double Vision’: Recent Films by Janie Geiser at REDCAT
The promising signs the Mustangs showed in their Missouri opener paid off in the evening Friday when Master’s women’s volleyball picked up its first road win of the season.
Master’s Rallies on the Road, Nets Season’s First Win
College of the Canyons' women's volleyball team opened Western State Conference play in style, as the Cougars swept visiting West L.A. College in straight sets.
No. 11 Canyons Sweeps West L.A. at the Cougar Cage
Route 66 Classic Grill in Canyon Country will host a fundraiser for local victims of the October 1 Las Vegas shootings on Saturday, October 28, from noon to 4 p.m.
Oct. 28: Route 66 Hosts Benefit for Las Vegas Shooting Victims
A roundup of the Santa Clarita arts-related events for Oct. 16-20, 2017.
Oct. 16-20: Santa Clarita Arts Upcoming Events