Vegas Loan Mod Suspect Faces Theft Charges After Allegedly Pocketing Upfront Fees, Failing To Provide Substantive Services

From the Office of the Nevada Attorney General:

• Nevada Attorney General Catherine Cortez Masto announced [] the arrest of Stephen Vitalich, 46, on charges of theft. The criminal complaint filed by the Attorney General alleges Vitalich, doing business as Consumer Loan Excellence of America, LLC or NBMS of America, LLC, promised clients he would obtain mortgage loan modifications that would substantially reduce clients’ monthly mortgage payments. The complaint further alleges that after collecting large advance fees, Vitalich performed no substantive work on his clients’ behalf and eventually disappeared with their money.
• Vitalich, who was arrested Thursday, is charged with one count of theft of obtaining money in the amount of $2,500 or more from a person 60 years of age or older, two counts of theft of obtaining money in the amount of $2,500 or more, and one count of theft of obtaining money in the amount of $250 or more.

For the Nevada AG press release, see Nevada Attorney General Announces Arrest In Mortgage Loan Modification Scam. For the criminal complaint, see State of Nevada v. Vitalich.