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Orange County attorney Stephen K. Chrysler, owner and chief executive of Carlsbad's SKC Real Estate, and his mother, Carlsbad real estate agent Aida Agusti Castro, were convicted by a jury today (April 18) of running an $8 million mortgage scam largely in North County. Both were remanded immediately to federal custody; sentencing will be July 30. According to evidence presented at the trial, they made out false loan applications, including creating phony businesses that borrowers supposedly headed, and creating false rental histories with a sham management company as landlord.

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Comments

Burwell April 18, 2012 @ 11:28 p.m.

The crimes committed by workers in the real estate industry are so enormous as to be beyond the capacity of the legal system to deal with. The real estate scum broke our country financially. Everyone who works in the real estate industry is a thief and a criminal to some degree. Workers in the real estate industry are barely one step above the level of child molesters and society should treat them as such.

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mridolf April 19, 2012 @ 5:33 a.m.

Having bought eight California houses in the past years, and sold five, I would like to agree with you, but I can't. I've had my problems with mortgage people that flat out lie, and yet others were extremely helpful. Same with the sales agents. Some are so full of it, their eyes are brown, yet others have been unbelievably helpful. But no one enters that industry because they hear a higher call to help people (as the ads would have you believe). It's all about the bucks.

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Don Bauder April 19, 2012 @ 7:24 a.m.

A period of unrestrained greed, such as we suffered in the real estate bubble, attracts the con artists. Best, Don Bauder

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Don Bauder April 19, 2012 @ 7:21 a.m.

The mortgage thievery goes well down in the ranks. Government should concentrate, though, on nabbing those at the top. Thus far it hasn't done so to any significant degree. Surprised? Best, Don Bauder

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conanthequasilibertarian April 19, 2012 @ 10:06 a.m.

Not a bit surprised. And I'll also be surprised if they get any serious time (depending on one's definition of "serious time").

Steal $100, go to prison for 10 years. Steal $100,000,000, go to prison for 3 (that's just my characterization of the situation, not based on any review of statistics).

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Don Bauder April 19, 2012 @ 12:01 p.m.

Steal $100 million and go to prison for 3 years? No way. Steal $100 million and you get off free in most cases. Remember, Madoff confessed to his son; government had to act. Enron was so widely publicized that the government had to step in. John Moores dumped more than $600 million of Peregrine stock before the collapse. But when defense lawyers argued that their clients, minor executives of Peregrine, were facing criminal charges for selling $1 million of stock, while Moores was not even a defendant, judges would not let Moores's name be mentioned in court. There is an ancient poem: "The law doth punish man or woman/ Who steals a goose from off the common/ But lets the greater felon loose/ Who steals the common from the goose." Best, Don Bauder

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SurfPuppy619 April 19, 2012 @ 4:05 p.m.

The crimes committed by workers in the real estate industry are so enormous as to be beyond the capacity of the legal system to deal with. The real estate scum broke our country financially.

yet BY FAR the biggest abusers have never even been prosecuted, much less spent even 1 second in jail.

This is what happens when you turn from a country of laws and equality into a banana republic with two sets of laws-one set for those with money and connections, and one set for everyone else.

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Don Bauder April 20, 2012 @ 7:53 a.m.

Punishing mortgage crooks is beyond the capacity of the legal system to deal with if Congress and the White House really don't want to prosecute the malefactors, particularly the ones at the top. Best, Don Bauder

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