A Concord man who is considered to be armed and dangerous has been indicted on charges that he executed a mortgage fraud scheme to defraud financial institutions of more than $13 million and committed tax evasion, according to the U.S. Attorney’s Office.
Prosecutors said Edward Batayeh, 40, also known as Ed Bhataybh, the executive vice president and chief financial officer of CHL Mortgage Group, fled from FBI special agents in November 2006.
The FBI asks that anyone with information about Batayeh’s whereabouts contact them at (415) 553-7400.
According to the indictment, Batayeh is alleged to have conspired from March 2000 to December 2004 to defraud four financial institutions by “double banking” fraudulent loans by selling variations of the same loan to multiple investors without the investors’ knowledge.
Batayeh allegedly carried out the conspiracy by sending fraudulent loan packages, which included mortgage notes, deeds of trust, loan applications and verifications of employment, to financial institutions without the property owner’s knowledge.
Prosecutors say Batayeh and others also allegedly obtained properties in the name of the CHL employees and then obtained multiple fraudulent loans on these properties.
They say that Batayeh recently sent a false resume using the name of Ed Bhataybh to Aurora Loan Services Inc., one of the previously defrauded financial institutions.
Batayeh is also charged with tax evasion for failing to pay his taxes from 2001 through 2004.
The indictment alleges that the institutions that were defrauded are Aurora Loan Services, which lost $1.74 million, Gateway Bank, which lost $6.27 million, First Collateral, which lost $2.7 million and First Horizon Home Loan Corp., which lost$2.34 million.
Prosecutors say CHL Mortgage Group was at 2000 Crow Canyon Place, Suite 400, in San Ramon and Batayeh’s residence is at 4290 Chloe Drive in Concord.
— Bay City News