{"id":2086270,"date":"2023-11-01T04:24:02","date_gmt":"2023-11-01T08:24:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/irvine-banker-sentenced-to-over-5-years-for-5-million-mortgage-scam\/"},"modified":"2023-11-01T04:29:58","modified_gmt":"2023-11-01T08:29:58","slug":"irvine-banker-sentenced-to-over-5-years-for-5-million-mortgage-scam","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/irvine-banker-sentenced-to-over-5-years-for-5-million-mortgage-scam\/","title":{"rendered":"Irvine banker gets 5+ years for $5M mortgage scam."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Firvine-banker-sentenced-to-over-5-years-for-5-million-mortgage-scam%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2086270&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><blockquote>\n<h2>Orange County Mortgage Firm Owner Sentenced to Over 5 \u2062Years in Prison for \u2063$5 Million Fraudulent Stock Scheme<\/h2>\n<p>The owner of an Orange County\u200d mortgage firm, Jacques Poujade, has been \u200bhanded a hefty sentence of more \u200bthan five years behind bars for swindling\u2064 an \u200dinvestor out\u200b of over \u2063$5\u2062 million in a fraudulent stock scheme. This news comes after Mr. Poujade\u200d pleaded guilty \u200bto one federal count of securities fraud in July.<\/p>\n<p>U.S. District Judge \u2063Mark C. Scarsi sentenced Mr. Poujade to 63 months in federal prison and ordered him to pay nearly $6.2 million in restitution, according to the U.S. Attorney&#8217;s office.<\/p>\n<h3>Related Stories<\/h3>\n<ul>\n<li>\n<div>\n<a href=\"http:\/\/www.theepochtimes.com\/us\/los-angeles-celebrates-100th-year-anniversary-of-hollywood-sign-5520590?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3>Los Angeles Celebrates 100th Year Anniversary of Hollywood Sign<\/h3>\n<p><\/a><\/p>\n<p class=\"text-comp-caption\">10\/31\/2023<\/p>\n<\/div>\n<\/li>\n<li>\n<div>\n<a href=\"http:\/\/www.theepochtimes.com\/us\/city-of-torrance-joins-lawsuit-opposing-zero-bail-in-los-angeles-county-5519756?ea_src=author_manual&#038;ea_med=related_stories\"><\/p>\n<h3>City of Torrance Joins Lawsuit Opposing Zero-Bail in Los Angeles County<\/h3>\n<p><\/a><\/p>\n<p class=\"text-comp-caption\">10\/30\/2023<\/p>\n<\/div>\n<\/li>\n<\/ul>\n<p>Mr. Poujade, who \u200bis the owner and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tokyo-olympics-set-to-go-on-regardless-of-covid-19-pandemic\/\" title=\"Tokyo Olympics Set To Go On \u2018Regardless\u2019 Of COVID-19 Pandemic\">chief financial officer<\/a> of Tri-Emerald Financial Group based\u2062 in Lake Forest, deceived \u2062the victim investor by selling \u2064unregistered securities and making false claims about an \u200dimminent initial public offering (IPO)\u2063 that would supposedly skyrocket the stock&#8217;s \u2062value from $10 to $100 per share. However,\u2062 court documents reveal that Tri-Emerald had not\u2063 taken the necessary\u2064 steps to pursue an \u200dIPO,\u2063 such as \u200bcompleting required paperwork with the U.S. Securities and Exchange Commission \u200c(SEC)\u200d or engaging investment banks as underwriters.<\/p>\n<p>Prosecutors emphasized the severity of Mr. Poujade&#8217;s actions, stating that he not only conned the victim out of her life savings but also betrayed her trust after establishing an intimate and faith-based relationship with her. In total, he fraudulently obtained approximately $5.25 million from\u200b the victim.<\/p>\n<\/blockquote>\n<p> <\/p>\n<h2> What were the financial and emotional consequences experienced by the victims of Jacques Poujade&#8217;s fraudulent scheme,\u2063 and how does this \u200bhighlight\u200b the importance of holding individuals accountable for their \u200bactions<\/h2>\n<p><span>  Ence \u200cof over five years in prison for his involvement in a fraudulent stock scheme that\u2062 cost investors approximately \u200d$5\u200d million. This severe punishment,\u2062 imposed by\u200c the judicial system, sends a strong message that\u200d white-collar crimes will not be tolerated and highlights the importance of holding individuals accountable for their actions.<\/p>\n<p>Poujade, the owner of\u200c a mortgage firm based in Orange County, California, was\u2064 found guilty of engaging in a scheme to defraud investors through false \u2064representations and promises. With\u2063 this scheme, he misled unsuspecting victims\u2062 into investing their <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hate-being-spewed-in-the-name-of-patriotism-wapo-opinion-attacks-anthem-before-games-2\/\" title=\"\u2018Hate Being Spewed In The Name Of Patriotism\u2019: WaPo Opinion Attacks Anthem Before Games\">hard-earned money<\/a> in a \u200bfraudulent stock scheme, \u2064which ultimately resulted in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/food-stamp-program-losing-1-billion-every-month-to-alleged-fraud-errors-sen-ernst\/\" title=\"Sen. Ernst claims Food Stamp Program loses  billion monthly due to suspected fraud and errors.\">significant \u200dfinancial losses<\/a>.<\/p>\n<p>The \u2062investigation revealed that Poujade employed \u200ddeceptive tactics to lure investors, misrepresenting the potential profitability of \u2064the stocks and promising substantial returns on investments. He also provided \u2064falsified financial statements\u2064 and other documents to give an illusion of legitimacy and to gain the trust of investors. These dishonest practices exploited the vulnerability and trust of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/irvine-banker-sentenced-to-over-5-years-for-5-million-mortgage-scam\/\" title=\"Irvine banker gets 5+ years for M mortgage scam.\">individuals seeking sound investment opportunities<\/a>.<\/p>\n<p>The consequences of Poujade&#8217;s actions\u200c were far-reaching, both\u200b financially and emotionally, affecting numerous victims who suffered significant financial hardship \u200bas a result\u2062 of his fraudulent scheme. Many lost\u2062 their life savings, retirement funds, and even their homes,\u200d causing immeasurable damage to their livelihoods and future\u200b plans.<\/p>\n<p>The \u200bcourt&#8217;s decision to sentence Poujade to over five years in prison rightfully acknowledges the gravity and magnitude of his crimes. This stiff punishment \u200dindicates the judicial system&#8217;s determination to \u200cprotect innocent investors and preserve the integrity of financial markets.<\/p>\n<p>This case\u2064 serves as a stark reminder that individuals who engage in fraudulent schemes will <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jamaal-bowman-could-face-more-than-30-years-behind-bars-for-fire-alarm-pull\/\" title=\"Jamaal Bowman may receive over 30 years in prison for pulling fire alarm.\">face severe legal repercussions<\/a>. It also emphasizes the importance of vigilance and due diligence when considering investment opportunities. Potential investors must thoroughly research and assess the credibility and \u200dlegitimacy of any investment scheme before committing\u2063 their hard-earned money.<\/p>\n<p>Moreover, this case underscores the need for stringent regulatory measures\u200b and oversight\u2062 to prevent and detect fraudulent activities in the financial sector. \u2063Organizations \u200cand regulatory \u200bbodies must work together to implement robust\u2064 mechanisms that\u2062 identify and deter individuals intent on deceiving investors for personal gain.<\/p>\n<p>In conclusion, Jacques Poujade, the owner of an Orange County mortgage firm, has been sentenced\u2064 to over five years in prison for his participation in a\u200b fraudulent stock scheme that defrauded investors\u2064 of approximately $5 million. This punishment\u2062 underscores society&#8217;s intolerance for white-collar crimes and highlights \u200bthe imperative to \u2063hold individuals accountable for their \u200dactions.<\/p>\n<p>Furthermore, it serves as a reminder\u200c for potential investors to exercise caution and perform thorough\u200c due \u200ddiligence before entering into any investment\u200d arrangement. It is\u200c crucial to verify the legitimacy of investment\u200c opportunities and \u200bseek advice from\u200c reputable financial advisors.<\/p>\n<p>Ultimately, this case should serve as a catalyst for strengthening regulations and oversight, ensuring the protection of innocent investors and the preservation of the integrity of financial markets. It is imperative to take \u2063proactive measures to prevent and detect fraudulent activities, \u2063safeguarding individuals from falling victims to similar schemes in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LOS ANGELES\u2014Jacques Poujade, owner of an Orange County mortgage firm, received a 63-month prison sentence on Oct. 30. Poujade, 63, from Irvine, defrauded an investor of over $5 million in a fake stock scheme. U.S. District Judge Mark C. Scarsi handed down the sentence.<\/p>\n","protected":false},"author":410,"featured_media":2086271,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2086270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2086270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/410"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2086270"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2086270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2086271"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2086270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2086270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2086270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}