California man gets 5 years for loan modification scam
A Glendale man was sentenced to five years in jail on Friday after scamming dozens of Valley residents in a mortgage-assistance scheme.
John Herrera, 33, was arrested in December.
Herrera told victims he had “connections” and expertise negotiating with mortgage lenders to reduce payments and stop foreclosures, according to a statement from the Attorney General’s Office.
He would charge homeowners an upfront fee of $1,245.
However, Herrera never offered any loan modification or assistance and used the money for personal expenses, authorities said.
Initially after his arrest, investigators said he scammed 10 Valley homeowners.
After further investigation, the number grew to 47 homeowners.
Herrera pleaded guilty to one felony count of fraudulent schemes and artifices in April.
In addition to his jail sentence, he must pay more than $80,000 in restitution to victims.
