Monday, July 20, 2015

121 Victims Of San Diego-Area Sale-Leaseback/Land Grant Racket That Falsely Promised To Help Homeowners Dodge Foreclosure To Pocket $820K In Restitution

In San Diego, California, The Press Enterprise reports:
  • Restitution checks that will collectively total $820,000 will be mailed to 121 victims, among them some from the Inland area, of a foreclosure avoidance scheme that put William Hutchings(1) and nine others behind bars, San Diego County prosecutors say.

    The case, prosecuted in 2009, had Hutchings and others convincing people who wanted to avoid foreclosure to turn over grant deeds to their homes in Riverside and San Diego counties. Most of the victims spoke little English.

    As part of the scheme, the homeowners rented back their homes from Hutchings or paid $10,000 in lease-back or land grant fees. Most lost their homes anyway. The $10,000 fee and rent money rarely, if ever, made its way to pay victims’ mortgages, prosecutors say.

    Only nine of the 121 victims in the felony theft case were able to retain their homes, prosecutors say.
For more, see Restitution for Inland foreclosure fraud victims (San Diego County to distribute checks to 121 scammed victims in real estate scheme; some victims are from Riverside County, lead prosecutor says).

(1) See California Appeals Court Affirms 46-Year Prison Sentence For Sale Leaseback Peddler Who Ran Purported Federal Land Grant Home-Saving Racket.

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