After almost a month in trial, a federal jury in California found two brothers, 36 and 33, guilty of a foreclosure scam that crossed the country. The jury found the older man guilty of four counts of mail fraud while the younger man was found guilty of two counts of mail fraud.
The two men were involved in the deception for more than two years from Jan. 2004 to March 2006 out of offices headquartered in Orange County. They swindled dozens of clients, many from within the state, out of more than $15 million. A federal grand jury found enough evidence to charge the two defendants and 14 others on Feb. 28, 2008. The company supposedly promised credit repair services to clients who faced foreclosure. Instead, the defendants took the homeowners down a path that eventually resulted in the transfer of their property titles to other parties. The other parties were relatives or friends of the defendants. Once the transfers were complete, the defendants pulled out all of the equity in the home and split the gains. When all was said and done, the homeowners were left with nothing but damaged credit.
The prosecutor explained that the brothers exploited the homeowners because they were worried that they could lose their homes. They gained from the struggles of the homeowners, and some of the people were evicted and left with nothing. He expressed the devastation the people felt at the loss of their residence.
One of the FBI agents who worked on the case emphasized that the agency’s goal was to pursue justice for those who suffered. He felt that the guilty verdict in the case sent a strong message to anyone considering involvement in white-collar crime.
Defending someone accused of white-collar crimes can be complicated, especially when the crimes occur in a number of states. A criminal defense attorney might be able to request reduced charges for clients.
Source: Orange County Breeze, “Huntington Beach man found guilty in nationwide foreclosure scam”, June 01, 2013