1st Member Of Loan Mod Scam Trio Cops Guilty Plea, Expects 3+ Years For Felony Foreclosure Consultant Fraud
In Ventura County, California, the Ventura County Star reports:
- A Los Angeles man pleaded guilty [last] week to three counts of felony foreclosure consultant fraud and is expected to get three years and eight months in jail when he is sentenced next month, according to prosecutors.
Rene Solis, 52, was involved in a foreclosure rescue and loan modification program called Sunset Beach Management, which operated throughout Southern California, said Senior Deputy District Attorney Anthony Wold.
Wold said Solis collected upfront fees from struggling homeowners and promised to help them get modified loans to save them from foreclosure. Solis never provided any services. As a result, homeowners lost a total of $78,000 and many lost their homes to foreclosure. Some of the victims were from Ventura County.
Wold said co-defendants Nino Vera, 52, and Hector Menendez, 56, are also charged with fraud, and their cases are pending. Solis will be sentenced Nov. 1.
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