Tyler Korn, 28, St. Ann, Missouri, pleaded guilty Monday to charges he and his accomplices swindled homeowners facing foreclosure with false promises to help them save their homes.
In his plea, he admitted he and co-defendants used the address of a UPS store in Overland Park, Kansas, to form Reliant Home Financial Group, a company they operated out of the St. Louis, Missouri metro area.
The indictment alleges the defendants took money from victims and fraudulently promised to:
- Lower their interest rates.
- Lower their monthly payments.
- Help them obtain loan modifications.
When victims received foreclosure notices, the defendants advised them not to worry about it.
Other defendants include:
Amjad Daoud, 33, Lutz, Florida, who is awaiting trial.
Ruby Price, 73, Bonner Springs, Kansas, who is awaiting sentencing.
Korn will be scheduled for sentencing later. He faces up to 20 years in federal prison and a fine up to $1 million on each count.
U.S. Attorney Tom Beall made the announcement.
Beall commended the U.S. Department of Housing and Urban Development – Office of Inspector General, the Federal Housing Finance Agency – Office of Inspector General, the Johnson County District Attorney’s Office, Special Assistant U.S. Attorney Emilie Burdette and Assistant U.S. Attorney Jabari Wamble for their work on the case.