New sentencing date set for real estate agent in conspiracy case

By Neal Putnam

Ramona real estate agent Teresa Rose will be sentenced May 20, 2013, following her guilty plea to conspiracy to commit wire fraud and money laundering in connection with a scheme involving mortgage loan fraud.

Rose is among three others charged in U.S. District Court in San Diego who allegedly recruited investors through ads to purchase homes in Ramona and elsewhere as straw buyers who were promised $10,000.

Her first sentencing date was Dec. 3. It was reset in November for March 18, and the May date was set recently but there was no reason given in her court file. She remains free on $50,000 bond.

Her attorney, Michael Lipman, said earlier that Rose was duped by co-defendant Mary Armstrong, 51.

“Teresa Rose pled guilty based on limited conduct that occurred in the 2006 to 2007 time period involving nine transactions in Ramona,” he said. “She is ashamed of this conduct and looks forward to putting it behind her.”

Lipman said Rose never received “any of the alleged $1.5 million in illegal profits. Her biggest mistake was not completely withdrawing from all dealings with Armstrong and others.”

“There is nothing wrong with a real estate salesperson representing both the buyer and the seller in a transaction,” said her attorney.

Rose faces a maximum term of five years in federal prison and a $250,000 fine. She also may be eligible for probation if she agrees to pay restitution if ordered.

Related posts:

  1. Sentencing Dec. 3 in mortgage scheme
  2. Ramona real estate agent pleads guilty in kickback scheme
  3. Tax preparer receives new sentencing date in murder-for-hire case
  4. Smith awarded 2011 Five Star Real Estate Agent
  5. Real estate agent Barbara Jensen joins chamber

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Posted by Maureen Robertson on Dec 27 2012. Filed under News, Ramona. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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