Columbus Man Bagged For Allegedly Running Mortgage Elimination/Relief Racket; He Fleeced $74K In Fees From Over A Dozen Homeowners, Say Local Feds

In Columbus, Ohio, The Columbus Dispatch reports:

• A federal grand jury has charged a Columbus man with fraud, money laundering and tax evasion in connection with his mortgage fix-it business.
  
  Gary Jones, 52, ran 3Arck Capital Group, a company that claimed it could erase or modify mortgages that homeowners couldn’t pay, according to the U.S. attorney’s office.
  
  Jones charged $4,000 to $8,000 for each mortgage amelioration, as he called it, for at least 13 people between 2010 and 2012, the indictment says. He collected $74,700 in fees from those customers.
  
  But “no mortgages were ever successfully eliminated or reduced through the program,” the indictment says, and the fees paid by homeowners went into Jones’ personal bank accounts.

Source: Man indicted on fraud charges relating to mortgage deals.