Guilty Plea Entered in Case Involving Loan Modification Scheme

Allison Tussey —  July 1, 2013 — Leave a comment

Jose Miguel Aguilar, Rancho Cucamonga, California, pled guilty to two felony counts of grand theft and one felony count of money laundering.

Aguilar, along with four convicted co-defendants, ran an illegal foreclosure rescue business that victimized people throughout Southern California, including residents of Ventura County. Aguilar operated foreclosure rescue scams under multiple business names including S.B. Management, 21 st Century Management, Global Team Consulting, and U.S.A. Home Recovery Service. Aguilar and the other defendants targeted monolingual Spanish-speaking residents struggling to pay their monthly mortgages. Victims were falsely promised home loan modifications and charged thousands of dollars in illegal upfront fees. Victim losses exceed $34,000.

A felony arrest warrant for Aguilar was issued in September 2012. He was arrested in Bakersfield on May 20,2013, with assistance from the Los Angeles County Sheriff’s Department and the Bakersfield Police Department. His sentencing hearing is set for August 1,2013, at 3:00 p.m. in courtroom 12.

Aguilar faces a maximum sentence of four years four months in custody as a result of his guilty pleas. He remains in custody at the Ventura County jail with bail set at $250,000.

District Attorney Gregory D. Totten announced the guilty plea.

This case was investigated by the Ventura County District Attorney’s Office Real Estate Fraud Unit.

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