San Jose Man Gets Year in Jail In Loan Modification Ripoff; Cops Plea To Six Felony Counts Of Grand Theft

In Santa Clara County, California, the Contra Costa Times reports:

• [A] 32-year-old San Jose man was sentenced March 30 to one year in jail for six felony counts of grand theft for defrauding homeowners in a loan modification scam, according to the District Attorney's Office.

• Hector Ricardo Esquivel pleaded guilty to charges that he scammed thousands of dollars from homeowners in Santa Clara County and beyond from May 2008 to May 2009, according to the district attorney. Esquivel was arrested in May 2009 after an investigation by San Jose police, and he pleaded no contest on Feb. 11.

• Esquivel was working as a real estate agent after his license had been revoked. He solicited primarily Spanish-speaking homeowners and offered loan modification services, charging thousands of dollars without providing any services. Several homeowners lost their homes to foreclosure, according to the District Attorney's Office. Esquivel also was ordered to pay $23,600 in restitution and is prohibited from working in the real estate or financial sector for the next three years.

Source: 3 charged with defrauding 45 homeowners in mortgage scam.