Jeffery Tye Brown, 50, Henderson, Nevada, has been charged with four felony counts of theft and one felony count of forgery in connection with the operation of DB Financial Services, a foreclosure rescue business located in Henderson, Nevada.
The State alleges Brown misled customers into believing that, for a fee, he would guarantee resolution of a victim’s pending mortgage foreclosure.
The indictment alleges that between December 2007 and February 2008, Brown contacted victims whose homes were going into foreclosure and obtained advance payments of $999.00 for foreclosure rescue services that he never performed. He failed to give refunds despite promising refunds in his contracts and advertising. He also forged documents to the Mortgage Lending Division to cover up the criminal activity.
Shortly after execution of a search warrant on the DB Financial offices in 2008 by the Nevada Attorney General Catherine Cortez Masto’s mortgage fraud task force, Brown fled the country. He has been extradited back to the U.S. from the Philippines, where he was in hiding to evade authorities.
“My mortgage fraud task force is aggressively prosecuting loan modification scams,” said Attorney General Masto. “Scammers should know we will use all our resources to extradite, indict and convict you if you attempt to perpetrate these schemes upon Nevada’s consumers.”
A District Court arraignment has been scheduled for February 25, 2010, in the Lower Level Arraignment Court of the Las Vegas District Court.
The indictment is not a determination of guilt or innocence but is just a finding of probable cause that a crime was committed. The Defendant is presumed innocent until proven guilty.