A man convicted of conspiring to defraud more than 30,000 Americans out of about $31 million was sentenced on Thursday to 16 years in prison.
The California man was also ordered to pay $11.9 million in forfeiture and restitution.
The man was convicted of running a mortgage scheme from November 2011 through May 2014, causing more than 60 homeowners to lose their homes.
The man apparently oversaw about 65 telemarketers and managers in his role as general manager of sales at the company.
Prosecutors claim that the Irvine-based company persuaded homeowners in dire financial shape to modify the terms of their mortgages to make them more affordable.
Four other people convicted in the scheme are awaiting sentencing.
With the housing market where it is currently, prosecutors are going after anyone accused of mortgage fraud to the fullest extent of the law. Rest assured that they will stop at nothing to achieve a conviction for this white collar crime. Their ultimate goal is to make sure that anyone accused of mortgage fraud is proven guilty.
Loan and mortgage fraud can be complicated, and most of these cases are unique. Our South Florida Fraud Defense Lawyers at Whittel & Melton can comb through every shred of evidence in your case to filter fiction from fact, so that we establish the most powerful defense on your behalf. We can aggressively attack the prosecution’s case and make sure your rights are protected.