Image by liangjinjian via FlickrIf you were a victim of this crime, hit my comment section and tell me your thoughts. This is an outrage that these type of crimes take place so often here in our community.Great job by the FBI here in Los Angeles!
LOS ANGELES—With a new criminal case being filed this morning, federal authorities have now charged three defendants for their roles in a foreclosure rescue scam that promised the owners of hundreds of distressed properties that they could indefinitely postpone foreclosure sales.
Irving Cohen, 74, of Van Nuys, was charged late this morning in United States District Court with two counts of bankruptcy fraud. In a plea agreement also filed today, Cohen admitted his role in the scheme that filed fraudulent bankruptcies to delay foreclosures on more than 1,400 properties that had outstanding loans totaling nearly three-quarters of a billion dollars. As a result of the scheme, which continued through July, numerous lenders lost interest payments on the mortgages for up to three years, and Cohen and his associates collected nearly $550,000 in fees from homeowners.
A second defendant in this case, Robin Phillips, 53, of Claremont, pled guilty on Monday to one count of bankruptcy fraud. Phillips admitted to filing bankruptcies that delayed foreclosure on nearly 500 properties and affected more than $200 million of delinquent mortgages.
A third person allegedly involved in the scheme, Darwin Bowman, 74, of Van Nuys, was indicted in September by a federal grand jury on two counts of bankruptcy fraud. Bowman is currently scheduled to go on trial on February 8.
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