Attorney General Becerra Reveals Sentencing for $4 Million Mortgage Fraud Scheme in Southern California | California Department of Justice

California Attorney General Announces Sentencing of Mortgage Fraud Scheme Operator in Southern California and Inland Empire

SAN DIEGO – A major mortgage fraud scheme that targeted vulnerable homeowners facing foreclosure has come to an end with the sentencing of Prakashumar Bhakta to seven years and eight months in state prison. The scheme, which operated throughout Southern California and the Inland Empire, involved convincing distressed homeowners to pay thousands of dollars for fraudulent legal assistance in saving their homes.

California Attorney General Xavier Becerra, who announced the sentencing, emphasized that there is zero tolerance for scam artists who prey on hardworking Americans and betray their trust. The sentencing of Bhakta and his co-defendants, who previously pled guilty and received prison terms ranging from four to seven years and four months, serves as a reminder that those who engage in such fraudulent activities will be held accountable to the fullest extent of the law.

The fraud scheme, which spanned multiple counties including San Diego, Riverside, San Bernardino, and Los Angeles, involved filing numerous fraudulent documents such as false bankruptcies and court filings. This resulted in lenders and property owners being defrauded of their rightful possession of residential properties, while the defendants profited from the fees paid by homeowner victims for fraudulent services.

Bhakta, who played a significant role in the scheme, admitted guilt to 113 felony charges including conspiracy, grand theft, and filing false or forged documents. His false notarization of numerous fractional interest grant deeds without the presence of the signatories further contributed to the fraudulent activities.

The successful prosecution of Bhakta and his co-defendants was the result of a joint investigation by the California Department of Justice, Fraud and Special Prosecutions Section, the Federal Housing Finance Agency, Office of the Inspector General, and the Stanislaus County District Attorney’s Office. This collaborative effort highlights the commitment of law enforcement agencies to protect homeowners from falling victim to such fraudulent schemes.

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