Laguna Beach, Orange County - Laguna Beach residents James Eaton and his son Brian Eaton have been arrested and charged with over 20 felony grand in order to attract more business from lenders.
Both men have been arrested last week. If convicted, they could be sentenced to 18 years in prison. Both the father and the son worked at an Irvine company in the appraisals for residential properties during 2005 and 2007 properties. During the years they were working with the company, they falsified appraisals and overstated the value of properties so that lenders could take higher profit for the loans with higher appraisal prices.
Between April 17, 2006 and Dec. 30, 2006, they have allegedly changed the appraisal values up to $40,000. Orange County District Attorney's office are still investigating the case.
