FAIRFIELD — A jury trial got underway Tuesday in Sacramento for a former Dixon man who faces federal mail fraud charges tied to an alleged mortgage fraud scheme involving more than a dozen properties in Dixon.
Hubert Rotteveel, 51, allegedly worked as the real estate agent in the sales of 13 properties in Dixon that were bought by two people. FBI and IRS agents believe Rotteveel inflated the values of the properties and worked with loan officers to provide false information to lenders about the income and liabilities of the potential buyers to convince the lenders to make loans for the properties.
For most of the sales, the escrow officer paid proceeds to a bank account of Windmill Properties, a company owned by Rotteveel, without disclosing to the lenders that these payments were made. More than $700,000 went to Windmill Properties under this scheme, and the lenders lost more than $3 million when all 13 properties went into foreclosure, according to U.S. Attorney Benjamin B. Wagner.
Rotteveel faces up to 30 years in prison and a $1 million fine. Rotteveel is currently doing time in state prison for armed bank robberies in Vacaville, Woodland and West Sacramento.
Reach Jess Sullivan at 427-6919 or firstname.lastname@example.org. Follow him on Twitter at www.twitter.com/jsullivandr.