Armando Granillo, a former Fannie Mae employee, was indicted in March 2013, by a grand jury on allegations of taking kick-backs related to his role as a Real Estate Owned Foreclosure Specialist. Granillo’s position at the Irvine, California. Fannie Mae office was to review applications submitted by real estate brokers who wanted to list Fannie Mae foreclosure properties. In that capacity, Granillo had the authority to approve sale offers presented by the brokers.

In this particular case, Granillo asked a broker from Tucson to pay a 20 percent kickback on commission received  for listings, at which point the broker alerted federal law enforcement officials. The broker then began assisting law enforcement in the investigation.  In a recorded meeting between Granillo and the broker, Granillo stated the arrangement was a “natural part of business.” In the same meeting, Granillo made arrangements to receive an $11,200 payment from the broker.

If convicted, Granillo’s charges could result in a statutory maximum penalty of 20 years in federal prison.

Note: An indictment contains allegations that a defendant has committed a crime.  Every defendant is presumed to be innocent until and unless proven guilty in court.

The entire article may be reviewed at:  http://www.justice.gov/usao/cac/Pressroom/2013/044.html