Armando Granillo Gets 15 Months for Fannie Mae Kickback Scheme
Fannie Mae sales associate Armando Granillo tried to get kickbacks for foreclosure listings.
Photo by flickr user Kevin Anderson
A former Fannie Mae sales associate out of Huntington Beach was sentenced Tuesday to 15 months in federal prison for taking kickbacks from a broker who sold foreclosed properties.
Armando Granillo, whose defense in federal court in Santa Ana was basically that taking bribes was a normal part of doing business, must also spend six months in a halfway house after being released from prison. The 45-year-old, who worked in Fannie Mae's Irvine office, was convicted in March on three counts of wire fraud.
Granillo, whose job was to review applications by real estate brokers who wanted to list Fannie Mae foreclosed properties, asked a Tucson, Ariz., broker in late 2012 to pay him a 20 percent kickback on the broker's commissions. The broker told the feds, who taped a meeting in Phoenix where Granillo vowed to shoot the broker more listings in exchange for $11,200. Later, when Granillo went to pick up the money, he left in cuffs instead.
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