McAllen woman admits to conspiracy to commit real estate wire fraud

A 55-year-old McAllen resident pleaded guilty to conspiracy to commit real estate wire fraud on Friday, according to a press release from the United States Attorney’s Office for the Southern District of Texas.

Mayela Saby Cantu pleaded guilty to wire fraud and is now facing up to 20 years in federal prison and a possible $250,000 maximum fine.

Cantu admitted to knowingly participating in a scheme that used falsified lien payoff statements, fraudulent warranty deeds and deceptive emails to mislead lenders, title companies and property buyers, according to the release.

From November 2020 up until her arrest, while working at Sierra Title in McAllen, Cantu defrauded buyers and lenders in multiple property transactions.

Cantu facilitated closings backed by falsified documents by using her position of trust.

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

Cantu also facilitated fraudulent property transactions which included arranging closing on properties that had already been sold and accepting undisclosed cash payments.

Because she concealed the nature of the deals, Cantu caused financial harm to the affected people, according to the release.

Cantu is scheduled to appear before Chief U.S. District Judge Randy Crane for her sentencing on March 5. Cantu will be allowed to remain on bond pending her sentencing.

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