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Danville CEO Arrested on Suspicion of Defrauding Wells Fargo out of $1.2 Million Mortgage

Darren Wassell attempted to get out of his $1.2 million mortgage by forging a document releasing him of the mortgage, according to the Contra Costa County District Attorney's Office.

The CEO of a Danville-based real estate investment company was arrested Friday on suspicion of illegally unloading himself from his $1.2 million mortgage, the Contra Costa County District Attorney's Office announced Monday.

Darren Wassell, 42, has been charged with conspiracy, forgery, burglary, passing insufficient fund checks and attempting to file false documents. He faces a maximum sentence of five years and eight months. Bail is set at $100,000.

Wassell was a real estate agent until his license expired in 2010. He is currently the CEO of Still Creek Capital, LLC, a real-estate investment limited liability company.

The district attorney's office said Wassell purchased a five bedroom, three bath Danville home with a $1.2 million mortgage in 2005. In 2011, Wells Fargo moved to foreclose the home. Wassell then filed a fraudulent Deed of Full Reconveyance, which released Wassell of the mortgage.

In addition, the district attorney's office believe Wassell briefly opened and closed a checking account with US Bank in 2011. After the account was closed, he sent Wells Fargo a check for about $1.5 million. The check bounced for insufficient funds.

"This office will prosecute anyone who deceives victims and businesses of their hard-earned money in any real estate fraud scheme," Contra Costa County District Attorney Mark A. Peterson said. "We will not tolerate swindlers nor financial predators in our community.”

Wassell is being prosecuted by the Real Estate Fraud Unit of Contra Costa County.

In his social media profiles, Wassell appears to be family oriented and a man of faith.

He describes himself on his Twitter account as "Christian, Husband, Father, Friend, Youth Group Leader, Real Estate Lover."

Randy Post March 12, 2013 at 09:54 AM
Judging by how many Government Paid SHILLS AND TROLLS are commenting on this article with fear porn and false information, I'd say this is a story that deserves our full attention! Way too many people are now aware of the fraudulent banking activities, especially with regard to "loans", "mortgage lending", MERS, fractional reserve, derivatives.. the list goes on and on. People are becoming increasingly aware that the bank LOANS NOTHING and that the original Mortgage Note cannot be produced because it was bundled and sold on the stock market. Time for people to wake up. Research this mans story. Understand that the amount of TROLLS commenting on this article means that there are details to this case that *THEY* do not want the public to learn about. Dear Trolls: The money you make to post your lies in an attempt to protect the oppressors = a sell out to humanity. KARMA should cause YOU to sleep with one eye open. It will catch up to you.
Danville Resident March 12, 2013 at 03:25 PM
Randy its sad your resort to call the honest tax paying people of Danville Trolls and defend the perp..... Karma my friend caught up with this dishonest guy who cant live by society's rules and accepted behavior...you really need to draw the line in the sand on some issue and take your tin foil hat off and stop living in your fantasy world.... it works well for the other 99.9999 % of us who do.
Mr. Hawaii May 08, 2013 at 11:14 PM
I must say people. This is exactly what the bankers like wells fargo, bank of america, jp morgan and others are doing to people all over the nation. However do you see any of them going to jail. No all you see is a simple slap on the wrist and fines. court system is beyond corrupt. Its all bullshi$. Most of you people that are spouting off in here have absolutely no idea what is really happening around you. You all would just rather go to work, come home and watch tv on the couch then to even rock the boat. To bad for you soon you will not be able to even do those things. Enjoy the last of your so called freedom.
Danville Resident May 08, 2013 at 11:26 PM
You sound a little wacked there Mr Hawaii, your preaching what he did was not so bad and should not be punished becuase the world is coming to an end soon and well be under some other contol..... put down the crack pipe.....and get with it...whata are you going to spout next the south will rise again.. He did the crime and now will do the time.... thats been the rule from the begining of time.....
KAC May 08, 2013 at 11:57 PM
Mr. Hawaii, Didn't your mom ever tell you, "two wrongs don't make a right"...

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