Thursday, October 13, 2016

NJ Man Cops Guilty Plea To Theft By Deception, Gets 3 Years For Running Loan Modification Scam That Pilfered $131K From Multiple Financially Strapped Homeowners

In Mount Holly, New Jersey, the Burlington County Times reports:
  • Victims duped by a Mount Laurel man who promised them financial services and instead kept $131,000 of their money for his own use told a judge [] they do not think three years in prison is enough punishment.

    Scott D. Feltman, 42, of Starboard Way, was sentenced by Superior Court Judge Christopher Garrenger at the Burlington County Courthouse in Mount Holly after pleading guilty earlier this year to second-degree theft by deception.

    Feltman admitted using his Mount Laurel company to take about $131,000 from about 75 victims to perform loan modifications and other financial services but keeping the money for himself.
    About 10 victims addressed Garrenger, telling him that Feltman "talked a good talk," made promises he never kept, represented himself to be something he wasn't and, in many cases, stole from them when they were vulnerable and in need.

    The victims spoke of losing up to about $12,000 to Feltman, their homes in some cases, and their faith and trust in people. Some said they have suffered from stress and emotional issues. One called Feltman "despicable" for taking advantage of people who were trying to save their homes or having other financial issues.
    Many of the victims were not happy that Feltman received three years and that he will possibly be accepted into the state's intensive supervision program, which provides an opportunity for certain offenders to work their way back into the community under intensive supervision instead of being incarcerated.

    If accepted into the program, Feltman could possibly be released from prison in months. [...] Feltman was sentenced according to the terms of a plea deal reached between the state and defense.

    Feltman's attorney, Samuel Asbell, argued that the quicker Feltman gets out, the sooner he can get a job to pay back the $131,000 in restitution. Many of the victims said they fear they will never get all their money back.

    The victims were from New Jersey and Pennsylvania and are owed amounts that range from a few hundred dollars to as much as about $15,000, authorities said.

    Feltman was operating under the company Baymar Capital Funding LLC, according to court documents. He has a previous conviction for drugs in 1998 and criminal usury in 2011, according to court records. His attorney could not be reached for comment.

    Feltman has a pending charge of theft by deception charge in Camden County, according Burlington County Assistant Prosecutor Andrew McDonnell.

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