Jose Serrano of Stockton, Calif., has been sentenced to 15 months in prison and ordered to pay more than $219,000 in restitution to Washington Mutual Bank for his role in a mortgage fraud scheme involving the purchase of numerous residential properties in the Stockton area between 2003 and 2005. According to Matthew Stegman, assistant U.S. attorney for the Eastern District of California and prosecutor of the case, the investigation has also resulted in charges against other defendants, including Iftikhar Ahmad, Manpreet Singh, John Ngo, William Bridge and Paul Bridge. Each of these defendants has entered guilty pleas to various charges and awaits sentencing. Another defendant, Joel Blanford, has been charged and awaits trial.
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