Tuesday, July 31, 2012

Bail Set At $250K Each For Trio Accused Of Running Upfront Fee Loan Modification Foreclosure Rescue Ripoff Throughout Southern California

From the Office of the Ventura County, California District Attorney:

  • District Attorney Gregory D. Totten announced [] the filing of a felony complaint against Los Angeles residents Nino Vera (DOB 4/25/60), Rene Solis (DOB 1/17/60), and Hector Menendez (DOB 5/23/56).

    Vera is charged with nine counts of foreclosure consultant fraud and two counts of grand theft. Solis is charged with five counts of foreclosure consultant fraud and three counts of grand theft. Menendez is charged with two counts of foreclosure consultant fraud and one count of grand theft.

    The charges arise out of a fraudulent home loan modification and foreclosure rescue program operating across Southern California under the business name of “Sunset Beach Management.”

    The defendants are accused of collecting thousands of dollars in upfront fees from struggling homeowners while promising to modify mortgage loans and “save” their homes from foreclosure. The victims received no actual services from the defendants and, in addition to losing thousands of dollars, many lost their homes through foreclosure proceedings. Total victim losses are estimated to exceed $78,000.

    The arrests of Vera, Solis and Menendez in Los Angeles follow a two-year investigation by the District Attorney's Real Estate Fraud Unit. Bail was set for all three defendants at $250,000.

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