[lbo-talk] 5 Charged with torturing foreclosure consultants

[Steven Robinson]

("Foreclosure consultants"  market their services to individuals facing loss of their homes through foreclosure - imminent foreclosures are matters of public record in most US jurisdictions. Foreclosure consultants offer to stop or delay foreclosures in return for a fee.  Very often the foreclosure consultant takes the money and does little or nothing. While foreclosure consultants are no doubt prospering in the current crisis, the "profession" has been around for years. In this case, it looks like some distressed homeowners utilized "self help" justice to deal with a couple of  scam artists. SR)

5 charged with torturing Calif. home loan agents 

The Associated Press 
Monday, October 26, 2009 

Prosecutors say five people have been charged in Los Angeles with torturing and robbing two men they thought falsely promised to save their home from foreclosure. 

Two men were charged Monday with torture, robbery and false imprisonment. A man and two women pleaded not guilty to the same charges Friday. 

Prosecutors say two of the suspects hired loan modification agents in hopes of keeping their home but believed the men took their money and did nothing. 

Prosecutors claim the victims were lured to Glendale on Oct. 20, held for hours, beaten and robbed before one escaped. 

All five suspects remained jailed on about $1 million bail each. 

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/10/26/financial/f145705D39.DTL&tsp=1

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