Loan Modification Scammer Cops Plea To Grand Theft, Money Laundering For Ripping Off Homeowners Of $34K; Remains In Can In Lieu If $250K Bail Until August Sentencing

In Ventura County, California, the Ventura County Star reports:

• A Rancho Cucamonga man pleaded guilty to several counts of grand theft and money laundering [], according to the Ventura County District Attorney’s Office.
  
  Jose Miguel Aguilar, 50, admitted he ran an illegal foreclosure rescue business that victimized people in Ventura County and elsewhere in Southern California.
  
  He operated foreclosure rescue scams under business names including SB Management, 21st Century Management and USA Home Recovery Service, officials said.
  
  Aguilar and four co-defendants targeted Spanish-speaking residents who were struggling to pay their mortgages.
  
  The homeowners were promised home loan modifications and charged thousands of dollars in upfront fees. Losses exceeded $34,000, according to the District Attorney’s Office.
  
  Aguilar pleaded guilty to two counts of grand theft and one count of money laundering, all felonies.
  
  A warrant for Aguilar’s arrest was issued in September. He was taken into custody in Bakersfield on May 20, officials said.
  
  His sentencing hearing is scheduled for Aug. 1. He faces up to four years and four months in custody. He remained in Ventura County jail in lieu of $250,000 bail, officials said.

Source: Rancho Cucamonga man pleads guilty to mortgage fraud.

Go here for the Ventura County District Attorney press release.