The former chief executive officer of a Southern California mortgage brokerage firm was sentenced June 1 to nearly eight years in federal prison for an equity-skimming scheme that caused more than $15 million in total losses, federal prosecutors announced in a written statement (United States v. Singui, C.D. Cal., 2:2012-cr-00851, sentencing 6/1/16).
Judge Christina A. Snyder, of the U.S. District Court for the Central District of California, sentenced David Singui, who owned and operated Direct Money Source (DMS), to 94 months in prison. The judge also ordered Singui to pay more than $4 million in restitution.
U.S. ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.