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John Allen of Laguna Hills was sentenced today (Sept. 16) for participation in a mortgage scam. According to the U.S. Attorney's office, he solicited so-called investors who would become straw buyers of homes. Allen would falsify loan applications by claiming exorbitant income from fake employers.

Allen and other defendants raked in millions of dollars by convincing sellers to inflate the purchase price by $100,000 or more, allegedly to be used for improvements of the properties. But no construction work was performed and the money went into the defendants' bank accounts.

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Comments

FatCatSegat Sept. 16, 2013 @ 8:01 p.m.

Some body was watching the Sopranos where they did the exact same thing. Of course Tony and the boys didn't get caught in make believe land. Just got one thing to say, Buahawhawhaw!

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Don Bauder Sept. 17, 2013 @ 11:25 a.m.

FatCatSegat: These mortgage scams are often used by the mob. Best, Don Bauder

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