Defendant Sentenced For Mortgage Rescue Scam

admin —  May 10, 2010 — Leave a comment

William Vargas, a Nevada resident, has been sentenced in connection with his involvement with a mortgage foreclosure rescue company, Federal Housing Aid, whose operation included a call center in the Philippines.

District Court Judge Michael Villani sentenced Vargas to a year in the Clark County, Nevada Detention Center, but suspended the sentence pursuant to a plea agreement. Vargas was allowed to enter a plea to a gross misdemeanor charge of attempted theft but was required to pay half of the restitution owed prior to sentencing. Vargas is required to pay total restitution of $21,000 to the victims of his crime.

My office continues to aggressively prosecute these mortgage fraud cases, particularly when senior exploitation is involved,” said Attorney General Catherine Cortez Masto. “Cases like this one are a priority for this office.”

As previously reported on Mortgage Fraud Blog, through Federal Housing Aid, Vargas would contact homeowners facing foreclosure and offer to stop the foreclosure proceeding and save their credit. The victims entered into an agreement to pay an up front fee ranging from $700.00 to $1,500.00 as compensation for effecting a solution to the foreclosure. Once these fees were forwarded to Federal Housing Aid, no further action was taken. The homeowners, some of whom were over the age of 60, were never provided with assistance in resolving their problems and, in fact, ended up losing their homes.

Be Sociable, Share!


Posts Google+

No Comments

Be the first to start the conversation.

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>