City of Irvine Police Department
FOR IMMEDIATE RELEASE, PRESS RELEASE #8-15-2014
Contact : Dave Klug, Lieutenant, 949-724-7156, firstname.lastname@example.org
IRVINE, CA (August 15, 2014): Today, Irvine Police detectives arrested three people in connection to an elaborate fraud scheme that victimized at least thirteen people for over $800,000. Detectives believe Steven Sears (59) of Irvine led an elaborate scheme of promising to help victims protect their assets by purchasing corporations, which Sears fraudulently created. Irvine Police detectives began investigating the case in 2012. Sears allegedly started fraudulent corporations in California, Delaware, Nevada, New Mexico, Oklahoma, Utah, and Wyoming and sold them to his victims to protect their assets. Detectives believe these corporations were also used by Sears to open bank accounts to launder money. Sears appears to have used aliases to hide his identity and told some victims he was an attorney after being disbarred in 2011.
Mikael Sears (56) of Irvine, and Norma Hoskins (57) of Garden Grove were also arrested for assisting Steven Sears with the fraudulent activities. All of the individuals have been booked into the Orange County Jail in lieu of $800,000 bail. Continue reading