Mississippi Man Gets 9+ Years For Abuse Of Bankruptcy Court System In $300K+ Foreclosure Rescue Ripoff Targeting Financially Distressed Homeowners

In Jackson, Mississippi, WAPT-TV Channel 16 reports:

• A Jackson couple who admitted to defrauding several homeowners have been sentenced in federal court. Prosecutors said Robert and Deaundrea Power promised to help save their clients' homes, but took their money instead, leaving at least 10 victims with more than $300,000 in losses.(1) According to a March federal indictment, the Powers created Yorkshire Financial in 2006. The company promised to save homeowners from foreclosure and to rehabilitate their clients' loans. In exchange, the homeowner would sign over their deed and pay the Powers a monthly fee. [...] Prosecutors said Robert Power would put the property in bankruptcy and pocket the payments. Robinson said Robert Power sold her house without her knowledge and kept a $28,000 profit.

For the story, see Jackson Couple Who Defrauded Homeowners Sentenced (Spouses Promised To Save Clients' Homes, Took Money).

For more on the fraudulent use of the Federal bankruptcy court system in foreclosure rescue scams, see Final Report Of The Bankruptcy Foreclosure Scam Task Force.

(1) According to the story, the couple copped a guilty plea to avoid a trial. Robert Power was sentenced to 53 months in prison for conspiracy to commit mail fraud and 52 months for bankruptcy fraud. The sentences will run consecutively, followed by three years probation. He was also ordered to pay more than $300,000 in restitution. He was then taken to another federal courtroom where he was sentenced to an additional 10 months in federal prison for a tax fraud conviction. Deaundrea Power was sentenced to 12 months and one day in prison with one year probation after her release. She was also ordered to pay restitution.