McAllen woman admits to $350k wire fraud scheme

MCALLEN, Texas (ValleyCentral) — A McAllen resident pleaded guilty to conspiring to commit real estate wire fraud, according to the U.S. Attorney's Office.

Mayela Saby Cantu, 55, admitted that she participated in a scheme that falsified payoff statements, fraudulent warranty deeds and deceptive emails to mislead lenders, title companies and property buyers.

Cantu began defrauding buyers and lenders in November of 2020. During that time she defrauded multiple property transactions while working at Sierra Title in McAllen. While working there she facilitated closings backed by falsified documents.

In one case, she directed others to create fake email address resembling that of a legitimate lienholder. Cantu then used the fake accounts to send false payoff amounts via interstate wires, leading a title company to disburse more than $350,000.

Additionally, she made fraudulent property transactions, including arranging closings on properties that had already been sold and accepting undisclosed cash payments.

Cantu is scheduled to be sentenced March 3, 2025, at which time she faces up to 20 years in federal prison and a possible $250,000 maximum fine.