Huntington Beach man sentenced to prison for “builder bailout” scheme

A Huntington Beach man was sentenced Monday to nine years in federal prison for his role in a “builder bailout” real estate scheme in which more than 100 condominium units were fraudulently purchased across the country.
Momoud Aref Abaji, 36, was convicted in 2016 of multiple felony counts of bank fraud, wire fraud and tax evasion following a string of foreclosures that led to an estimated $10 million in losses for lenders.
Abaji and several co-defendants who worked with Excel Invest