Foreclosure Specialist Indicted Over Kickbacks

by 28 Mar 2013

(AP) — Federal prosecutors say a former Orange County foreclosure specialist for Fannie Mae has been named in a grand jury indictment saying he took kickbacks from a real estate broker in exchange for granting him properties to sell.

A Tuesday U.S. Attorney's statement says 44-year-old Armando Granillo is charged with three counts of wire fraud.

Granillo's job included approving applications from brokers seeking to sell foreclosed properties.

The indictment says last year he asked an Arizona broker for a percentage of the commissions earned for selling those properties. The broker alerted federal authorities and began working with them.

Prosecutors say on March 5, Granillo accepted an $11,200 payment from the broker and was arrested.

Granillo is scheduled for arraignment next month. It was not clear whether he had hired an attorney.

Read article from Bloomberg/AP


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