Maziar Bordbar, Saeid Yarandi, Pamela Gressier, Nathaniel Ferrer, Roberto Durano, and Joel Valdellon have been charged with running a loan modification scam in Orange County, California, wherein the defendants allegedly promised modifications in exchange for upfront fees.
Between June 24, 2011, and Oct. 29, 2013, Bordbar, Yarandi, Ferrer, and Gressier are accused of coordinating mailings to thousands of homeowners advertising loan modification services. They allegedly hired telemarketers to work as salespersons for homeowners calling in response to the advertisements.
Bordbar and Yarandi are accused of hiring Duran, Taghizadeh, and Valdellon to manage the sales teams of Prudential Law and Remedy Center Law. Duran, Taghizadeh, and Valdellon are accused of training sales staff members on what to say to potential customers.
Bordbar and Yarandi also owned Consult Marketing Group, Inc. and provided the sales personnel for Prudential Law and Remedy Center Law.
Ferrer is accused of running Secured Processed, Inc.
Bordbar, Duran, Ferrer, Gressier, Yarandi, Taghizadeh, and Valdellon allegedly misrepresenting to approximately 3,500 customers that they qualify for a loan modification,
when the defendants had no ability or authority to represent the victims on behalf of the lender.
The defendants are also accused of misrepresenting to customers of Prudent Law and Remedy Law, through their salespeople and website, that they were a law firm and customers would be represented by attorneys. Gressier was the sole attorney working at Prudent Law and Remedy Law.
The defendants allegedly charged upfront fees for loan modification services to the tune of more than $13.5 million from the victims.