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Foreclosure scam leads to 35-year prison sentence


SACRAMENTO, Calif. (AP) - One of two brothers convicted of leading a nationwide foreclosure scam has been sentenced to 35 years in federal prison for stealing titles to more than 300 homes.

Federal prosecutors in Sacramento say 40-year-old Charles Head of Pittsburgh and 17 other defendants obtained more than $90 million in fraudulent loans and caused more than $50 million in losses between 2004 and 2006.

Head and his brother, Jeremy Head of Huntington Beach, California, were convicted in May 2013 of mail fraud and other charges. Charles Head was convicted of additional mail fraud charges in December.

Their attorneys did not immediately return telephone messages after Wednesday's sentencing.

Orange County-based Head Financial Services promised to help homeowners avoid foreclosure. Instead, prosecutors say they tricked victims into signing over their titles.

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rnrinnie1 September 03 2014 at 7:40 PM

THIS is where we REALLY need the DEATH penalty.

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skiinvestments September 03 2014 at 8:55 PM

Now, now.. Everybody knows stealing is only legal for the government..

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1 reply
yayabeanes skiinvestments September 03 2014 at 11:49 PM

Yeah, otherwise it would fall under the category of organized crime.

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krazzicraig September 03 2014 at 11:13 PM

This country has been sold a pack of lies about the who , what and cause of the real estate melt down . There is a direct connection to the manipulation by the GOP controlled senate and Clinton back in 1999/2000. The deregulation that kept the greed of big banks and wall street was repealed . The GOP is responsible for the real estate melt down .After 2008 there were attempts by the Dems, to regain some control over this bunch . The GOP fought them at every turn.

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yayabeanes September 03 2014 at 11:48 PM

Resurgent has to be the worse for loan modifications.

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Mike September 04 2014 at 6:58 AM

Thank you, President Reagan for destroying regulation, allowing this type of thing to happen and making government incapable of governing.

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darinw40 September 03 2014 at 10:29 PM

What about all the fraudulent robo signings that Mortgage service companies do to those who are current on their mortgages and are close to paying them ...MORTGAGE SERVICING COMPANIES SHOULD BE OUTLAWED!!!!!

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johnny September 04 2014 at 7:00 AM

Be nice if the article stated how they did this.

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