Alleged Loan Modification Scammer Hit With 11 Felony Theft Charges; Accused Of Ripping Off 100+ Denver-Area Homeowners Out Of $300K+ In Upfront Fees

In Denver, Colorado, KMGH-TV Channel 7 reports:

• More than 100 homeowners in the metro area are out $2,500, and some have lost their homes. Investigators said it is all because of a company that promised to modify home loans, but instead stole homeowners' money.

***

• Santiago Pineda, has been arrested and charged with 11 counts of felony theft. Pineda, along with two other employees, worked with American Mortgage Consultants, also referred to as American Mortgage Counselors.

• According to the Ramirez family, he told them he would help them modify their loan in order to avoid foreclosure, in exchange for $2,500 up front. During the process, the Ramirez' said Pineda told them not to contact their bank or even let them know they were dealing with AMC.

***

• [Denver District Attorney Prosecutor Joe] Morales said AMC stole more than $300,000 from more than 100 families over the last two years. "We have not been able to determine that anything they were doing was legitimate," said Morales.

For the story, see DA: 100+ Scammed By Fake Mortgage Company (Mortgage Company Pretended To Modify Home Loans).