A Portland man pleaded guilty Tuesday for a bank fraud scheme involving a residential property in Bend.
Alireza Zamanizadeh, aka Ali Zamani, 63, filed a quitclaim deed in Deschutes County on or around February 17, 2017.
A quitclaim deed is often used to quickly transfer the ownership of real property from one party to another.
Zamanizadeh used the deed to transfer a residential property in Bend to his business for one dollar without the property owner’s consent.
He then used the property as collateral for obtaining a loan worth $316,092.
He forged the property owner’s signature on a statement verifying the property transfer, which was required by the mortgage lender and title company who processed the loan.
The mortgage company then approved the loan and transferred the funds to Zamanizadeh’s bank account.
On June 14, 2021, Zamanizadeh was charged by criminal information with bank fraud and aggravated identity theft, and he will be sentenced on Jan. 4, 2022 before U.S. District Court Judge Anna J. Brown.
Bank fraud is punishable by up to 30 years in prison, a $1 million fine, and three years’ supervised release.
As part of the plea agreement, Zamanizadeh has agreed to pay $400,000 in restitution to his victim and has transferred a second residential property in Clark County, Washington back to the victim.
Acting 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 FBI and is being prosecuted by Katherine A. Rykken, Assistant U.S. Attorney for the District of Oregon.