escrow

The organization intended to use a chunk of the proceeds to develop affordable housing, noting the plan in the escrow instructions of the $81-million sale.

In reviewing banking records and escrow documents, Versoza said he observed a forged power of attorney document bearing Tascon’s name, which also had a fake notary stamp.

The document was submitted to the escrow company to facilitate the fraudulent disbursement of funds stemming from the sale.

Hassanshahi signed multiple escrow documents on Tascon’s behalf as the “seller,” Versoza wrote.

According to Redfin, 7.8% fewer homes across the U.S. went into escrow during the four weeks that ended Sept 8 compared with a year earlier.