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American Mortgage FundsFraudulent company

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V Review updated:

This company is led by an conman. His name is Ashraf Ibrahim but he changed it to Ash Abraham. He buys properties under different companies names such as Rocky Mountain Properties or HNA LLC and then sells them for a huge profit to unsuspecting buyers who do not speak English or those leaving the country promising to make the payments for a year while they are gone.

For example, he buys a home for $100, 000. And then he gets it appraised (the appraiser is in on this) for $150, 000 and sells it to a buyer promising to make all payments for the first year. He primarily targets non English speaking buyers and tells them that the terms are all in the contract.

He defaults on payments within months. The buyer usually has no idea what is going on assuming payments are being made. Propoerty goes into foreclosure and he walks away with a huge profit as he is the seller, the real estate agent, and the broker all in one (he collects tons of extra fees). No one figures out he is the seller, real estate agent and broker because he uses different company names -- so he gets paid thrice over!!!

Buyer is left holding the bag. Be forewarned about this guy. He has done this on over 60 apartments so far and two homes.

Names he uses: Ashraf Ibrahim, Ash Ibrahim, Ashraf Abraham, Ashraf Aoly Ibrahim. Companies he uses: American Mortgage Funds, Western Estates Inc, American Realty or American Realtors, Rocky Mountain Properties and HNA LLC.

Be forewarned.

Responses

  • N
      Oct 27, 2009

    If you are a victim of Ash Abraham a/k/a Ashraf Ibrahim, please contact me ASAP by responding to this by emailing ericson.michael(at)gmail.com. I would like more information.

    0 Votes
  • C
      Nov 20, 2009

    Ash Abraham has a consitent policy of not paying vendors. There are several companies still out there that have not received payments for services that have done. He wont pay for anything, it is standard for him. If you want to do business with him, DON'T, unless you get the money upfront. I have done business with him and have not gotten paid in several months, he refuses to return phone calls and email messages. Please beware of doing business with him.

    0 Votes
  • R
      Dec 20, 2009

    Does he also live and work in Carlsbad, CA?

    0 Votes

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