5:01 p.m., Dec. 4
Loan modification scam
Head of fraudulent mortgage mending operation gets 92 months.
Gary Bobel, founder and head of Oceanside's 1st American Law Center, a mortgage modification telemarketing ring, was sentenced today (Dec. 4) to 92 months in prison. Telemarketer Scott Spencer (a.k.a. Thomas Cole) got 30 months in custody and telemarketer Travis Iverson got 24 months. A fourth defendant, Mark Andrew Spencer (a.k.a. Mark Andrews) had his sentencing continued to Feb. 5. According to the U.S. Attorney's office, the firm's telespielers made many false claims, such as claiming the firm had been in business for 20 years and had a 98% success rate in obtaining loan modifications.