St. Louis Feds Squeeze Guilty Pleas From Alleged Loan Mod Scammer Accused In $265K+ Upfront Fee Ripoff Targeting 80+ Hawaiian Homeowners

In St. Louis, Missouri, stltoday.com reports:

• A Wentzville woman pleaded guilty Tuesday to a scam that saw her target Hawaiians with promises of mortgage and foreclosure "rescue." Marien Brown, 41, also known as Marien White, owned 1st Financial Resource LLC and 1st Federal Resource LLC. The businesses were registered at a UPS store that provides commercial mailbox services.



• Brown researched homeowners in Hawaii who were behind in mortgage payments or at risk of foreclosure, according to court documents. She sent out mailings promising "mortgage rescue" and "foreclosure rescue" services.



• More than 80 clients sent money to Brown, believing the funds would be used as part of mortgage rate renegotiations on their behalf, but the money was not forwarded to lenders. Instead she used the money for herself.



• Clients called her but couldn't reach her unless they said they wanted to send more funds, according to authorities. They called lenders but found out that they had not heard of Brown or her companies.



• Authorities say Brown is responsible for more than $265,000 in losses, but as part of her plea she will be responsible for any additional losses discovered and restitution for those losses.



• Brown pleaded guilty to three felony counts of mail fraud before U.S. District Judge Rodney W. Sippel. She could be sentenced to up to 20 years in prison and $250,000 in fines on each. Sentencing is set for Dec. 22.

Source: Wentzville woman pleads guilty in 'mortgage rescue' scam.