Thursday, November 10, 2016

Woman Gets 12 Days Jail Time, 5 Years Probation For Role In Running Loan Modification Scam; Pocketed Upfront Fees & Failed To Deliver Promised Services; Deal Requires Payment Of $60K In Restitution

From the Office of the Michigan Attorney General:
  • Michigan Attorney General Bill Schuette today announced that Asima Khan, of Roseville, was sentenced on one felony count of Larceny $1,000 - $20,000, for her role in running a mortgage modification scam across Oakland and Macomb Counties.

    “We see this time and time again, good people who have fallen on difficult times are taken advantage of by an individual who sees nothing but dollar signs,” said Schuette. “I am pleased to see this case resolved, but I will continue to seek justice and restitution for victims of this type of crime.”

    Khan, 35, was sentenced on October 27, 2016 in the 16th Circuit Court in Macomb County before the Honorable Diane M. Druzinski.

    Khan has been sentenced to 12 days in jail, followed by 5 years probation. She is also required to pay $60,387.24 in restitution to her victims.

    Case Background

    The Department of Attorney General’s Corporate Oversight Division began an investigation into Asima Khan and her company Financial Independent Services after receiving multiple complaints from victims in this case in 2015.

    Asima Khan and her company, Financial Independent Services, provided mortgage modification services in Oakland and Macomb County. Khan promised mortgage modifications and debt consolidation to her clients. However, she collected money for the services in advance in violation of Michigan law and did not provide the promised modifications or debt reduction.

    Khan’s company ceased operation in early 2014.

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