Loan Sense owner disbarred for not paying child support
Tom Hastert, the Grass Valley attorney being investigated for real estate fraud, has been suspended from practicing law by the State Bar of California, according to a state bar official.
“He’s suspended because of owing child support,” said Jeff Dalcerro, assistant chief trial council and manager of the San Francisco disciplinary office of the state bar.
Disciplinary charges are still pending for Hastert’s failure to comply with a public reproof issued by the state bar in January, Dalcerro said.
“In May, we filed new charges alleging he didn’t comply with the conditions of his probationary conditions,” Dalcerro said.
This week, Hastert posted the sale of a four-bedroom home he owns on the 400 block of Morgan Ranch Drive in The Union’s classified section.
The home was listed for sale at $459,900 with special conditions: The owner will carry with $57,000 down. Hastert could not be reached for comment.
A year ago, police raided Hastert’s Brunswick Road mortgage company, Loan Sense, after receiving numerous complaints of real estate fraud. Investigators believe more than a hundred people, many of them elderly, could be victims.
A month before the seizure of numerous file cabinets and records, Hastert listed the Morgan Ranch home in The Union’s legal notices. At the time, Hastert blamed the foreclosure of his home on the failing real estate market and a 50-percent drop in the number of investors who funded Loan Sense loans.
Criminal investigators from the state Department of Justice continue to question people in Nevada County linked to the case, while the state Department of Real Estate leads an investigation of its own.
Dalcerro would say whether the state bar is investigating Hastert.
This year, several civil suits have been filed against Hastert. At least 20 people who borrowed money from Loan Sense have seen their homes go into foreclosure, according to District Attorney Cliff Newell.
To contact Staff Writer Laura Brown, e-mail firstname.lastname@example.org or call 477-4231.
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