Wednesday, April 3, 2013

St. Louis Feds: Suspect Fraudulently Offered To Broker REO Sales & Financing, Pocketed Customer Deposits, Never Closed Any Deals

In St. Charles, Missouri, the Suburban Journals reports:

  • A federal grand jury has indicted a St. Charles woman on fraud charges for a Ponzi-style scheme related to the purchase or sale of real estate.

    Daniela Spiridon, 41, faces six felony counts of wire fraud, each of which is punishable by a maximum of 20 years in prison and a fine of up to $250,000. She also could be required to forfeit money and property derived from the illegal activity.

    The March 13 indictment alleges Spiridon never completed a purchase or obtained bank financing for the purchasers, but deposited their escrow monies into her own accounts, according to a news release from the U.S. Attorney's Office, Eastern District of Missouri.

    According to the indictment, Spiridon was affiliated with several businesses from an office in Chesterfield, which included A & AD Investments LLC, CDRS ESC Investments, Sentrix Loan Production Office and others. Spiridon is accused of fraudulently offering to broker purchases or arrange for financing to assist buyers in the purchase of properties acquired by lenders through foreclosure and held in inventory.

    She allegedly had potential buyers place deposits that were to have been put into an escrow account, but instead put the monies in a non-escrow account in one of her own companies. She often used buyers’ funds for personal expenses and to reimburse other buyers who demanded return of their funds, the indictment alleges.

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