Quantcast
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

White-collar lash

Hundreds of thousands in bribes equal six months in pokey

Lynda Sanabria, a banker for J.P. Morgan Chase, was sentenced today (June 1) to six months in prison followed by six months of home confinement. She had taken hundreds of thousands of dollars' worth of bribes for selling mortgage loans to favored customers in the secondary mortgage market.

Israel Hechter of mortgage investment firms Ocean 18 and Note Tracker paid Sanabria $300 per loan; in return, she would provide information about competitors' bids. That added up to $210,000 during the 2004-2010 period she was taking the bribes. In 2008, Sanabria stopped paying taxes on the loot she was receiving, so she has been ordered to pay more than $40,000 to the Internal Revenue Service.

Hechter and other members of his family have pleaded guilty in the scam, which involved employees of GMAC Mortgage and National City Bank. Sanabria is the third defendant to be sentenced.

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

After a weekend of unrest, lunch at El Chingon

Protests and police clashes add new twist to post-pandemic dining
Next Article

Thor slain in Carlsbad

Stabber gets five years
Comments
12

What, no fines or restitution? Shouldn't victims be paid double for their trouble?

June 1, 2015

Twister: Hechter family members were ordered to pay fines and restitution. Israel Hechter won't be sentenced until Aug 3. Best, Don Bauder

June 2, 2015

The problem for them is that they did not work on Wall Street and they did not scam the world for billions of dollars. Only little people get prosecuted and pay taxes.

OTOH they are lucky that they did not steal a loaf of bread at the local Seven Eleven. They'd have got the same sentence and wouldn't have any money to show for it. If they were an ethnic minority the sentence would have doubled. Justice in America ...

June 2, 2015

swell: I cannot disagree with your thesis. If you are going to steal, steal big. It's an old truism. Best, Don Bauder

June 2, 2015

seems the greedy don't go with the "take the money and run" theory

June 2, 2015

Murphyjunk: They take the money and run to their high-priced lawyers. Best, Don Bauder

June 2, 2015

What about Sanabria? Just 6 months?

June 2, 2015

Wabbitsd: It sounds like a light sentence to me, too. Best, Don Bauder

June 2, 2015

Better light then non existent. One banker in jail, thousands to go.

June 4, 2015

MichaelValentine: Good point. Best, Don Bauder

June 4, 2015

All proof that white collar crime does pay.

June 3, 2015

AlexClarke: We see proof of that several times a day. Best, Don Bauder

June 3, 2015

Sign in to comment

Sign in

Lynda Sanabria, a banker for J.P. Morgan Chase, was sentenced today (June 1) to six months in prison followed by six months of home confinement. She had taken hundreds of thousands of dollars' worth of bribes for selling mortgage loans to favored customers in the secondary mortgage market.

Israel Hechter of mortgage investment firms Ocean 18 and Note Tracker paid Sanabria $300 per loan; in return, she would provide information about competitors' bids. That added up to $210,000 during the 2004-2010 period she was taking the bribes. In 2008, Sanabria stopped paying taxes on the loot she was receiving, so she has been ordered to pay more than $40,000 to the Internal Revenue Service.

Hechter and other members of his family have pleaded guilty in the scam, which involved employees of GMAC Mortgage and National City Bank. Sanabria is the third defendant to be sentenced.

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Is your favorite brewery open yet? Check Magie's spreadsheet.

How a local beertender spent her pandemic spring showing people where to shop
Next Article

Thor slain in Carlsbad

Stabber gets five years
Comments
12

What, no fines or restitution? Shouldn't victims be paid double for their trouble?

June 1, 2015

Twister: Hechter family members were ordered to pay fines and restitution. Israel Hechter won't be sentenced until Aug 3. Best, Don Bauder

June 2, 2015

The problem for them is that they did not work on Wall Street and they did not scam the world for billions of dollars. Only little people get prosecuted and pay taxes.

OTOH they are lucky that they did not steal a loaf of bread at the local Seven Eleven. They'd have got the same sentence and wouldn't have any money to show for it. If they were an ethnic minority the sentence would have doubled. Justice in America ...

June 2, 2015

swell: I cannot disagree with your thesis. If you are going to steal, steal big. It's an old truism. Best, Don Bauder

June 2, 2015

seems the greedy don't go with the "take the money and run" theory

June 2, 2015

Murphyjunk: They take the money and run to their high-priced lawyers. Best, Don Bauder

June 2, 2015

What about Sanabria? Just 6 months?

June 2, 2015

Wabbitsd: It sounds like a light sentence to me, too. Best, Don Bauder

June 2, 2015

Better light then non existent. One banker in jail, thousands to go.

June 4, 2015

MichaelValentine: Good point. Best, Don Bauder

June 4, 2015

All proof that white collar crime does pay.

June 3, 2015

AlexClarke: We see proof of that several times a day. Best, Don Bauder

June 3, 2015

Sign in to comment

Sign in

Art Reviews — W.S. Di Piero's eye on exhibits Ask a Hipster — Advice you didn't know you needed Best Buys — San Diego shopping Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits City Lights — News and politics Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Excerpts — Literary and spiritual excerpts Famous Former Neighbors — Next-door celebs Feast! — Food & drink reviews Feature Stories — Local news & stories From the Archives — Spotlight on the past Golden Dreams — Talk of the town Here's the Deal — Chad Deal's watering holes Just Announced — The scoop on shows Letters — Our inbox [email protected] — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Of Note — Concert picks Out & About — What's Happening Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Pour Over — Grab a cup Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer News — Inside San Diego suds SD on the QT — Almost factual news Set 'em Up Joe — Bartenders' drink recipes Sheep and Goats — Places of worship Special Issues — The best of Sports — Athletics without gush Street Style — San Diego streets have style Suit Up — Fashion tips for dudes Theater Reviews — Local productions Theater antireviews — Narrow your search Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Waterfront — All things ocean Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close