In a case that brings to mind “truth is stranger than fiction”, an arrest warrant has been issued for a Sacramento-area man who bragged on his website that virtually his entire career in finance consisted of a series of frauds.
Christopher Warren, 27, whose broker’s license with the California Department of Real Estate (DRE) is still in good standing as of this posting, claims to have begun his profitable career in mortgage fraud while still a teenager, when he went to work with now-defunct Ameriquest in 2001. Warren admits to adjusting loan applications at Ameriquest and hacking into their computer system to approve his own loans, skipping the nuisance of having an underwriter review the applications.
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Sacramento-based Triduanum Financial’s website was temporarily replaced by a long-winded essay by Warren, its form managing broker, who most likely will be indicted for the many crimes to which he confessed online.
According toWarren’s essay on the website of Triduanum Financial, a firm the Internal Revenue Services says Warren controls, his superiors at Ameriquest taught him “the ins and outs of mortgage fraud, drugs, sex, and money, money and more money.” He was such a good student that Warren left after less than three years to start his own mortgage banking firm, WTL Financial, where he manipulated credit scores and W2 forms to investors and claims to have originated $810 million in mortgage-backed securities (MBS) before the firm collapsed.
The arrest complaint, signed by IRS Special Agent Christopher Fitzpatrick, charges Warren with bank fraud, mail fraud, and operating a continuing financial crimes enterprise, crimes he allegedly committed while working as a vice-president for Loomis Wealth Solutions between September 2007 and July 2008. Agent Fitzpatrick characterizes the activities of Warren and other Loomis directors as “a large Ponzi sceme and real estate mortgage fraud” that counted 500 properties across five states and losses to investors to the tune of approximately $100 million.
After an interview with agents from the FBI, IRS and investigators from the U.S. Attorney’s Office, Christopher Warren, aka Mark A. Seagrave, posted his seven-page confession on or about February 2. But after begging “a higher power for forgiveness”, Warren fled the country on a private jet – destination: unknown.
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Comments
If I were Scott Cavell, I'd move to Hawaii and stay in my father's sailboat near Waikiki Beach. Sure better than 30 years in prison. A hat, sunglasses and a bathingsuit (get rid of the I.D.) and Scott could stay in hiding for the rest of his life.
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