Phony home loans in Modesto, else­where net long pri­son terms

The Modesto Bee - - Local - BY GARTH STA­P­LEY gsta­p­ley@mod­bee.com

Three peo­ple who fraud­u­lently ob­tained $9.3 mil­lion in mort­gage loans in­volv­ing homes in Modesto, Pat­ter­son, Lathrop and else­where re­ceived mul­ti­year fed­eral pri­son sen­tences Fri­day.

Sur­jit Singh, 72, of Dublin and his son, Ra­jesh­war Singh, 44, of Pleasan­ton each were sen­tenced to 11 years and three months, and Anita Sharma, 56, of Gil­roy re­ceived a term of three years, 10 months for their roles in the mort­gage fraud, fed­eral au­thor­i­ties an­nounced. All were con­victed a year ago af­ter a seven-day trial in fed­eral court.

Fa­ther and son were or­dered to pay fines of $2 mil­lion and $1 mil­lion, re­spec­tively, and each must for­feit more than $1 mil­lion more for resti­tu­tion and other pay­ment.

Sur­jit Singh re­cruited peo­ple with good credit to act as straw buy­ers for homes owned by his fam­ily mem­bers and as­so­ci­ates, and his son sub­mit­ted loan ap­pli­ca­tions with false in­for­ma­tion to ob­tain money that would not have been granted other­wise, said the FBI and fed­eral pros­e­cu­tors.

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