Federal Appeals Court Affirms Conviction, 6-Year Sentence For Granite State Foreclosure Rescue Operator Who Peddled Sale Leaseback Arrangements To Financially Distressed Homeowners, Only To Leave Them Stripped Of Their Home Equity

From the Office of the U.S. Attorney (Concord, New Hampshire):

• [T]he United States Court of Appeals for the First Circuit in Boston, Massachusetts affirmed Michael Prieto's New Hampshire conviction and 72 month sentence for committing mail fraud by organizing and managing a fraudulent mortgage rescue scheme.
  
  Prieto's crime grew out of the mortgage crisis in the mid and late 2000s and involved defrauding distressed homeowners out of their properties and then obtaining money by lying on subsequent mortgage applications to strip equity from these properties.

For more, see Court Of Appeals Affirms Conviction And Sentence In Mortgage Rescue Scheme.

For earlier posts on this story, see:

• Granite State Jury Rejects Sale Leaseback Peddler's 'I'm Not A Swindler Or Thief, Just A Crappy Businessman' Defense (Convicts Ex-Countrywide Loan Officer For Running Foreclosure Rescue, Equity Stripping Racket),
  .
• NH Sale Leaseback Peddler Invokes "Bad Businessman" Defense As His Trial Begins For Alleged Fraud In Connection With Equity Stripping, Foreclosure Rescue Outfit (Says Company Was Nothing More Than "Failed Business Model", Not Criminal Enterprise).