According to court documents, Delta Homes and Lending Inc., a real
estate and mortgage lending company, employed Dirain and other
co-defendants in the case. Between October 2004 and May 2007, Dirain, a
loan processor, conspired with others to obtain home loans from mortgage
lenders based upon loan applications and supporting documents that
falsely represented the borrowers’ assets and income, liabilities and
debts, employment status, and citizenship status.
As part of the scheme,
Dirain and his co-conspirators provided money to borrowers in order to
temporarily inflate the borrowers’ assets and bank account balances
until the lenders approved the loans. Then the borrowers returned the
money to the defendants.
The aggregate sales price of the homes involved
in the conspiracy was in excess of $10 million. As a result of the
defendants’ actions, mortgage lenders and others suffered losses of at
least $4 million.
This case is the product of an investigation by the Federal Bureau of
Investigation. Assistant United States Attorney Lee S. Bickley is
prosecuting the case.
Dirain is scheduled to be sentenced by Judge William B. Shubb on
April 28, 2014. Dirain faces a maximum statutory penalty of 30 years in
prison and a $1 million fine. The actual sentence, however, will be
determined at the discretion of the court after consideration of any
applicable statutory factors and the Federal Sentencing Guidelines,
which take into account a number of variables.
A status conference is scheduled for February 10, 2014, for the
remaining defendants, including Moctezuma Tovar, Manuel Herrera, Ruben
Rodriguez, and Jaime Mayorga, all licensed real estate agents residing
in Sacramento; Sandra Hermosillo, of Woodland, formerly a loan officer;
and Christian Parada Renteria, of Sacramento, formerly a loan officer.
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