A Huntington Beach man suspected of running what authorities described as a “builder bailout” real estate scheme was convicted Friday of fraudulently buying more than 100 condominium units across the country. A federal jury found Momoud Aref Abaji, 34, guilty of multiple felony counts of bank fraud, wire fraud and tax evasion in connection to a scheme that resulted in a string of foreclosures and an estimated $ 9 million in losses for lenders, according to a United States Attorneys Office statement.
