{"id":18563,"date":"2015-12-21T19:55:30","date_gmt":"2015-12-22T03:55:30","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=18563"},"modified":"2015-12-21T19:55:55","modified_gmt":"2015-12-22T03:55:55","slug":"bogus-mortgage-operator-sentenced-to-eight-years-for-scamming-homeowners","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=18563","title":{"rendered":"75-Year-Old Mortgage Rescue Operator Jailed for Eight Years, Racked Up 250 Victims"},"content":{"rendered":"

Riverside, California<\/strong><\/span><\/p>\n

\n

\"courtroom_02\"<\/a>A man who operated a bogus mortgage rescue scheme \u2013 in which he made false promises to dozens distressed homeowners, filed fraudulent bankruptcies to delay foreclosure and rented the properties to third parties as the foreclosure proceedings were delayed \u2013 was sentenced today to eight years in federal prison.<\/span><\/p>\n

U.S. District Judge Virginia A. Phillips<\/strong> sentenced Terry Meisinger,<\/strong> 75, and rejected his arguments that his age merited a lower sentence.<\/span><\/p>\n

The judge noted\u00a0that, even if Meisinger was released from prison when he was 80 years old, he would still pose a danger to the public.<\/span><\/p>\n

Judge Phillips also ordered Meisinger, of Seal Beach, to pay $1.5 million in restitution to his victims.<\/span><\/p>\n

In papers filed in relation to today\u2019s sentencing, prosecutors said that there were more than 250 victims of the scheme, including homeowners, lenders, and renters.<\/span><\/p>\n

Meisinger \u201ccollected more than $1.5 million in illicit rent payments on more than 100 properties.<\/span><\/p>\n

Meisinger plead guilty in October to two counts of wire fraud.<\/span><\/p>\n

\u201cThis man earned significant profits as the result of his scheme \u2013 profits that came as the result of significant financial harm inflicted upon victims,\u201d said U.S. Attorney Eileen M. Decker.<\/strong> \u201cThis scheme operated for years and continued after my office filed a civil lawsuit and he was ordered to cease his fraudulent activities. This trail of victims, most of whom lost their homes, has earned this defendant the lengthy prison term imposed today.\u201d<\/span><\/p>\n

When he pleaded guilty, \u00a0officials said Meisinger specifically admitted that he defrauded a distressed homeowner by inducing him to sign a quitclaim in exchange for promises that included negotiating a short-sale agreement with his lender that would free the homeowner from his mortgage on a property in North Las Vegas, Nevada.<\/span><\/p>\n

But, instead, Meisinger caused a deed of trust to be recorded on the property, which was followed by a fraudulent bankruptcy on behalf of the person who supposedly now held an interest in the home.<\/span><\/p>\n

Meanwhile, Meisinger rented out the home to another person while foreclosure proceedings were stayed as a result of the fraudulent bankruptcy.<\/span><\/p>\n

Meisinger \u201crepeated the process of causing the recording of deeds of trusts in the names of various beneficiaries whose identities he controlled and causing the filing of bankruptcies on behalf of those lenders to delay the foreclosure proceedings, while collecting rents\u201d on property in North Las Vegas, according to the plea agreement filed in this case.<\/span><\/p>\n

Further, officials said he caused more than 300 bogus bankruptcy petitions to be filed in the names of numerous individuals who had no knowledge their identity was being used.\u201d<\/span><\/p>\n

Meisinger also admitted that his illegal conduct violated Judge Phillips\u2019 court order in a prior civil matter barring Meisinger from participating in the home finance or real estate industries for 10 years, according to officials.<\/span><\/p>\n

In that order, Meisinger was also barred from filing bankruptcy petitions, officials said.<\/span><\/p>\n

Judge Phillips additionally imposed a $5 million civil fine on Meisinger.<\/span><\/p>\n

\u201cHUD-OIG continues to vigilantly protect FHA insured borrowers from those who conduct fraudulent loan modification schemes. This significant sentence demonstrates our commitment to protecting HUD\u2019s important work in providing affordable home ownership,\u201d said James Todak, Special Agent in Charge of Housing and Urban Development\u2019s Office of the Inspector General.<\/strong><\/span><\/p>\n

The U.S. Department of Housing and Urban Development, Office of the Inspector General<\/strong> investigated this case.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

A man who operated a bogus mortgage rescue scheme \u2013 in which he made false promises to dozens distressed homeowners, filed fraudulent bankruptcies to delay foreclosure and rented the properties to third parties as the foreclosure proceedings were delayed \u2013 was sentenced today to eight years in federal prison.<\/p>\n","protected":false},"author":1,"featured_media":3968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3],"tags":[2039,2040,2038,576],"class_list":["post-18563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-main-slider","category-u-s-department-of-justice","tag-bankruptcies","tag-foreclosures","tag-homeowners","tag-mortgage-fraud"],"yoast_head":"\n75-Year-Old Mortgage Rescue Operator Jailed for Eight Years, Racked Up 250 Victims<\/title>\n<meta name=\"description\" content=\"A man who operated a bogus mortgage rescue scheme 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