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$5M Mortgage Modification Scam Ends in Guilty Plea

A California man has pleaded guilty to a fraudulent foreclosure rescue scheme that brought in at least $5 million from thousands of financially distressed borrowers. That’s according to federal prosecutors.

guiltyThe U.S. Attorney for the Southern District of New York said that Sergio Lorenzo Rodriguez of Orange County, California, ran a series of fraudulent mortgage modification firms from about mid-2015 to August 2020.

Rodriguez faces up to 20 years in prison on one count of wire fraud.

Read the full announcement from prosecutors.

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