Studio City Man Among 5 Charged in Bankruptcy Fraud Scheme

Alameda County District Attorney Nancy E. O’Malley and assistant director in charge of the FBI's Los Angeles Field Office Bill L. Lewis today announced Tuesday that charges have been filed against five defendants in connection with a state-wide bankruptcy fraud scheme, including a man from Studio City.

Jahi Kokayi, 43, of Studio City received one count of conspiracy to offer a false or forged instrument; 3 counts of offering a false and forged document for recordation

The criminal operation targeted distressed homeowners by promising to delay foreclosures and evictions in exchange for cash up-front, followed by monthly fees. The defendants offered to delay trustees’ sales for their clients, but did not disclose that they accomplished the delay by recording backdated and forged deeds of trust.

Additionally, the defendants filed false bankruptcies and sent copies to the trustees responsible for the sale of clients’ properties, which resulted in delaying the sale of the home until the lender could get relief from the automatic stay caused by the bankruptcy filing. Clients’ signatures were forged on the deeds of trust. A counterfeit notary stamp and forged notary signature were used to complete and record the deeds of trust.

The defendants and the charges against them are as follows:

Karl Robinson, 49, of Long Beach, – 1 count of conspiracy to offer a false or forged instrument; 13 counts of offering a false and forged document for recordation

Michael Bachmeier, 44, of Lake Elsinore, – 1 count of conspiracy to offer a false or forged instrument; 12 counts of offering a false and forged document for recordation

Thomas Powell, 33, of Newport Beach, – 1 count of conspiracy to offer a false or forged instrument; 12 counts of offering a false and forged document for recordation

Yamen Elasadi, 34, of Irvine, – . 1 count of conspiracy to offer a false or forged instrument; 12 counts of offering a false and forged document for recordation

Jahi Kokayi, 43, of Studio City, – 1 count of conspiracy to offer a false or forged instrument; 3 counts of offering a false and forged document for recordation

On September 20, 2013 the Alameda County Superior Court issued arrest warrants for five defendants charged with the conspiracy (California Penal Code section 182(a)(1)); and multiple counts of recording a false or forged document (CA Penal Code section 115(a)). Three of the defendants (Bachmeier, Elasadi and Powell) were arrested on Friday, September 27, 2013 and a fourth (Robinson) was arrested Tueaday. A fifth defendant (Kokayi) has not yet been located and is currently being sought by investigators.

This case was initiated when and the Alameda County Recorder’s Office reported the alleged fraud to the Alameda County District Attorney’s Office. Investigators determined that the fraudulent operation began in 2008 when defendant Karl Robinson filed an initial bankrupcy in his own name. Analysis by investigators has determined that the defendants filed more than 130 bankruptcies in the state of California and victimized hundreds of clients.

Investigators estimate that the defendants collected in excess of $5 million from victims between 2008 and 2010.