Friday, August 19, 2011

Suspect Gets 24 To 102 Months In Mtg Payment Hijacking Scam; Sent Letters To Borrowers Falsely Advising That His Outfit Obtained Loan Servicing Rights

From the Office of the Nevada Attorney General:

  • The Office of the Nevada Attorney General announced [] that a local man was sentenced to prison in connection with a mortgage scam involving Nevada homeowners. Judge Linda Bell sentenced Joseph Lawrence Yorkus, age 50, to a maximum of 102 months with a minimum of 24 months in the Nevada State Prison and ordered him to pay restitution to the victims in the amount of $346,155.15 for schemes relating to mortgage fraud, mortgage rescue fraud, credit repair and collection enterprises.

  • "Mr. Yorkus took advantage local homeowners who were already struggling to make their monthly mortgage payments," said Attorney General Catherine Cortez Masto. "He stole those payments and placed these homeowners in peril of losing their homes."

  • Yorkus created several businesses including Great Western Business Services, Sundance Consulting, BAC Collections, Learn Your Rights and Fresh Start Consulting and used them to obtain money from unsuspecting homeowners, placing them in jeopardy of losing their residences.

  • He pled guilty to one count of Mortgage Fraud for his part in sending correspondence to local homeowners advising them that their mortgages, which were legally held by Bank of America, had been transferred to his company, Great Western, and advised them that future mortgage payments should be made to Great Western.

For the Nevada AG press release, see Local Man Sentenced In Connection With Mortgage Scam.

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