Avraham Tarshish, a local business owner, was convicted of defrauding mortgage lenders out of millions through a fraudulent short sale scheme involving manipulated property transactions.
Over five years, Tarshish and his co-conspirators intentionally deflated property values and resold homes at inflated prices, committing wire and bank fraud.
Evidence showed that Tarshish paid distressed homeowners for exclusive access to short sales, while undermining competition and presenting false documents to lenders.
The fraudulent actions included intentionally damaging properties and providing lenders with false information to conceal illicit payments and agreements, misleading the entire mortgage process.
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