Con Artist's Get-Rich-Quick Mortgage Scheme Costs Him His Home

A man who ran a defunct get-rich scheme agreed to settle a court order by paying the Federal Trade Commission $900,000 and surrendering the proceeds from the sale of his house and most of his personal property.

The federal court judgment against John Stefanchik was obtained by the FTC in 2007 for blatantly false claims that his "wealth building" program would teach consumers how to quickly make serious money by buying and selling mortgages.