The real estate agents who sold David and Victoria Beckham their $24 million Beverly Hills home in July have been charged with fraud.
According to the Los Angeles FBI, Kyle Grasso and Joseph Babajian were indicted this month by a federal grand jury for allegedly participating in a massive mortgage fraud scam that caused more than $40 million in losses to federally insured banks.
The pair, part owners of Prudential California Realty, have been charged with conspiracy, bank fraud, loan fraud and money laundering.
Babajian’s lawyer says, “Joe and Kyle are innocent of these charges. They have always conducted their business lawfully. They look forward to vindicating themselves in court.”