BendPortland man gets 18-month federal prison term for bank fraud scheme involving...

Portland man gets 18-month federal prison term for bank fraud scheme involving NE Bend property

Portland man gets 18-month federal prison term for bank fraud scheme involving NE Bend property

PORTLAND, Ore. (KTVZ) — A Portland man was sentenced to federal prison Tuesday for using a Bend residential property he did not own as collateral to obtain a bank loan worth more than $316,000, prosecutors said.

Alireza Zamanizadeh, aka Ali Zamani, 63, was sentenced to 18 months in federal prison and five years’ supervised release. The court also ordered Zamanizadeh to pay $400,000 in restitution to the owner of the property.

According to court documents, on or about Feb. 17, 2017, Zamanizadeh filed a quitclaim deed in Deschutes County, transferring a residential property on Northeast Telima Lane in Bend to his business for $1 without the property owner’s consent. A quitclaim deed is a document used to quickly transfer the ownership of real property from one party to another. 

Zamanizadeh then used the property as collateral to obtain a loan worth $316,092 from a mortgage lender and forged the property owner’s signature on a statement verifying the property transfer, prosecutors said.

Based on his false representations, the mortgage company approved the loan and transferred the funds to Zamanizadeh’s bank account. After Zamanizadeh defaulted on the loan, the true owner of the property purchased the property out of foreclosure for $400,000.

On June 14, 2021, Zamanizadeh was charged by criminal information with bank fraud and aggravated identity theft. On Sept. 14, 2021, he pleaded guilty to bank fraud.

U.S. Attorney Scott Erik Asphaug of the District of Oregon made the announcement.

This case was investigated by IRS-Criminal Investigation with assistance from the FBI. It was prosecuted by Katherine A. Rykken, Assistant U.S. Attorney for the District of Oregon. 

The post Portland man gets 18-month federal prison term for bank fraud scheme involving NE Bend property appeared first on KTVZ.

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