April 12, 2011

http://blogs.sacbee.com/crime/archives/2011/04/el-dorado-hills-5.html

An El Dorado Hills man and his mother have pleaded guilty in Sacramento federal court to money laundering and concealing a felony, respectively, in connection with the man's fraudulent application for a loan to purchase a $2.75 million home in Shingle Springs.

Anthony Portillo used his mother's name - Betty Gracia - and credit history to obtain the loan, according to court papers.

The papers show that Portillo, 41, submitted his mother's bank statements, which had been falsified to reflect large account balances ranging from $700,000 to $1 million.

When federal agents asked Gracia, 61, about the amounts, she lied and said she had a large income, according to the papers.

The two are scheduled to be sentenced June 27, by U. S. District Judge William B. Shubb.