Fortuna Loan Officer Arrested

An investigation by the Humboldt County District Attorney’s Office into mortgage fraud has resulted in the arrest of a Fortuna based real estate loan officer.

On Friday, April 15, 2011, Delores Reeves, 55, Fortuna, was arrested in her place of business, iServe Residential Lending, and taken into custody on probable cause for grand theft by means of fiduciary trust, grand theft by means of an assumed character, elder abuse, identity theft and fraud.

On March 17, 2011 the Fortuna Police Department received a citizen report that alleged that Reeves sought money from local investors for fictitiously created home loans.   The report claimed that Reeves used fraudulent deeds of trust to mislead investors into believing their principal was secure, and then kept investors’ funds for personal use.

The Humboldt County District Attorney’s Office was asked by the Fortuna Police Department to conduct an investigation into these allegations.   A subsequent investigation revealed that Reeves appeared to have forged loan documents and intentionally misrepresented the value of real estate in order to secure loans from unsuspecting victims.   Investigators sought an arrest warrant and search warrants for her business and residence.   On Friday, April 15, 2011 District Attorney Investigators and officers from the Fortuna Police Department conducted two search warrants and subsequently arrested Delores Reeves.

“This is yet another example of how the Humboldt County District Attorney’s Office Investigators work successfully with other agency investigators to keep the community safe from criminals,” noted Humboldt County District Attorney’s Office Chief Investigator Mike Hislop.

The Humboldt County District Attorney’s Office and the California Department of Real Estate is urging anyone working with Delores Reeves and suspecting they are a victim of fraud to please call Investigator William Honsal at (707) 268-2592.

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