Nevada AG Indicts Las Vegas Man In Alleged Refinancing Scam Targeting Strapped Homeowners; Accused Of Illegally Pocketing Proceeds From Mortgage Loans

From the Office of the Nevada Attorney General:

• Nevada Attorney General Catherine Cortez Masto announced [...] that Wayne Goldenbaum, also known as Robert King, of Las Vegas, Nevada, has been indicted on multiple charges of theft, including theft from an individual over the age of 60. The charges stem from instances where King fraudulently obtained the proceeds from his victims’ mortgage loans or obtained money for the lease of property which he did not own. The case is being prosecuted by the Attorney General’s Mortgage Fraud Task Force.

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• The indictment alleges that King, through his company, King Highway Estates, promised to obtain refinancing for local homeowners who wished to use the proceeds to clear up outstanding debts or make improvements on their homes. After arranging the loans with hard money lenders, King would withhold most of the proceeds under the pretense of using them to pay off the homeowner’s bills or authorizing the home improvement projects.

For the entire press release, see Attorney General Masto Announces Indictments In Connection With Mortgage Scam.