Liz Swain 11:30 a.m., March 30
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.
More like this:
- Sentences for defense, loan modification scams — May 20, 2013
- Lawyer, Telemarketer Charged with Loan Modification Scam — Oct. 2, 2012
- Four Plead Guilty in Loan Modification Scheme — Dec. 16, 2011
- Loan Fraudster Gets 30 Months — June 10, 2011
- "Loan Modification" Telemarketer Indicted — March 23, 2010