Group Convicted In Scam That Used Forged Documents To Swindle Homeowners In Refinancing Ripoff

In Los Angeles, California, the Daily Breeze reports:

• The operators of a Van Nuys-based mortgage company have been convicted of refinancing a Harbor Gateway couple's mortgage with forged documents, ripping them off and putting them in jeopardy of foreclosure, prosecutors said Tuesday.



• Khachatour Galdjian, chief financial officer for Liberty One Financial Group Inc., and company employees Vighen Mkrtoumian and Layne Nocera were convicted of conspiracy and multiple counts of grand theft and forgery. Each was ordered to pay $43,584 in restitution and investigative costs, and received sentences ranging from 90 to 120 days in jail as well as probation terms.



• John DiBona, a telemarketer for Liberty One, and Wayne Stimson, a company broker, were each convicted of one count of false representation in a real estate transaction. Liberty One's chief executive, Garnik Poghosyan, remains sought on a $350,000 warrant.



• Prosecutors said DiBona "cold called" Harbor Gateway homeowners and offered to refinance an existing mortgage loan on their home. Along with Nocera, DiBona deceived the victims into obtaining refinancing in excess of the amount, interest and monthly payments they were promised by the lender.



• The victims later learned their signatures had been forged and their income and assets were fabricated on many of the documents. The discrepancies led to the possibility of foreclosure.

Source: Mortgage employees convicted of stealing from local homeowners.