Jeff Smith 9:05 a.m., Jan. 24
Four Plead Guilty in Loan Modification Scheme
Four people who operated Oceanside's 1st American Law Center, a loan modification scheme, pleaded guilty today (Dec. 16) to charges of wire fraud, money laundering, and tax evasion. Those pleading guilty were Gary Michael Bobel of Carlsbad, Scott Thomas Spencer and Mark Andrew Spencer of Del Mar, and Travis Corey Iverson of Riverside. Roger Trent Jones of Carlsbad was sentenced to 21 months in custody in March.
According to the U.S. Attorney's office, the telemarketers charged $1995 to $4995 for alleged loan modification services, falsely claiming, among several things, that they had a team of attorneys who pre-screened clients and they had a 98% success rate in achieving loan modifications. According to the authorities, 1st American Law Center fraudulently obtained more than $11 million from clients between 2008 and 2010.