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Former Seeno executive: Albert Jr., Albert III directed mortgage fraud

Published Sunday March 12

CONCORD — The son and grandson of East Bay housing empire patriarch Albert Seeno Senior personally directed a mortgage fraud scheme not covered by the FBI, and the illegal incentive programs were approved by a company attorney and outside counsel, according to a former executive and key government witness in the nearly concluded seven-year case.

Former Discovery Sales Vice President Ayman Shahid — who will be sentenced Thu after pleading guilty to conspiracy to commit bank fraud — assisted federal investigators in their probe of the powerful East Bay family’s mortgage business.

Federal prosecutors are recommending Shahid serve 33 to 41 months in prison.

Article length: About 990 words.
Tags: Antioch
Read more at Mercurynews

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