As reported by the Santa Cruz Sentinel, former real estate broker, Louisa Katrina Dubinsky, is scheduled to be sentenced next month regarding an initial charge of 39 counts of embezzlement, financial elder abuse and writing bad checks. It was during her time working as President of Vision Lending and Investment in 2007 when she was accused of stealing more than $500,000 from her clients. Her license was then revoked when it was found that her business was working with three trust funds which were short $187,000.
The initial hearing was held in September of 2011 when a former client's allegations were confirmed that Dubinsky was taking $3,000 a month for seven years to supposedly pay different lenders for the client's home loan but was actually keeping months worth of the payments. By the time is was brought to the client's attention they were unable to track down Dubinsky.
Dubinsky pleaded no contest last month and will now be coming back to court on February 8th, facing a maximum of eight years in prison. Part of her plea agreement also includes paying restitution to some former clients and victims.
Fraudulent activity happens all to easy in the mortgage industry but has luckily been put mostly to a halt since new guidelines and laws have been placed after the mortgage crisis; however, it is always good to know how to stay on top of your mortgage payments and understand how to track every payment which is made. If you have any questions regarding which practices are correct, please contact us today at 704-892-5211.
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