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Jared Tornow, a San Clemente, Calif. man who acted as a mortgage broker under several umbrellas, including the Orange-based Lucrativo Real Estate Solutions Inc., was sentenced to 70 months in federal prison for his conviction on tax evasion, mail fraud and credit card fraud charges related to a mortgage fraud scheme that caused at least $7 million in losses. Tornow was sentenced by United States District Judge David O. Carter, who called Tornow’s scheme one of the most sophisticated and arrogant frauds he had ever seen
According to court documents, Tornow fraudulently provided mortgage services from 2001 until 2006 through several companies, including Lucrativo Real Estate Solutions, which he operated with Mikhail Kosachevich during the last two years of the scheme. Tornow solicited home buyers and assisted them in obtaining mortgages, often by submitting fraudulent paperwork to lending banks.
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