Los Angeles Broker Sentenced to Prison for Mortgage Loan Fraud Scheme

Dadourian’s scheme not only defrauded lenders but also put the financial stability of his clients at risk. Many of the individuals who took out these fraudulent loans are now facing financial hardship and potential foreclosure on their homes. The impact of mortgage fraud extends far beyond the immediate financial loss, affecting families and communities for years to come.

As part of his sentence, Dadourian will also be required to pay restitution to the lenders he defrauded, ensuring that some measure of justice is served for those who were harmed by his actions. This case serves as a reminder that those who engage in financial crimes will be held accountable, no matter how complex or elaborate their schemes may be.

Attorney General Bonta and his team at the California Department of Justice are committed to rooting out fraud and corruption wherever it may occur. By working closely with federal law enforcement agencies, they are able to bring these criminals to justice and protect the integrity of our financial systems.

For Dadourian, the consequences of his actions are now clear as he begins his prison sentence. But for the victims of his fraud, the road to recovery may be much longer. It is important for all consumers to be vigilant when taking out loans or engaging in financial transactions, and to report any suspicious activity to the authorities.

As this case comes to a close, it serves as a stark reminder of the importance of transparency and honesty in the financial industry. By holding individuals like Dadourian accountable, we can help prevent future fraud and protect the financial well-being of all Californians.