Posted On: January 27, 2010

Loan Modification Scam

A Roseville bankruptcy attorney comments on the lawyer arrested on charges of loan modification fraud...

It's been released that a Southern California lawyer, and his business partners were arrested on charges of defrauding over 400 victims in a $1.25 million loan modification scam. The attorney, Christopher Lee Diener and his business partners, Stefano Joseph Marrero and Terrence Green Sr. were each charged with "one felony count of conspiracy to commit grand theft and 97 felony counts of grand theft by false pretense with setencing enhancements for white collar crime and excessive taking" according to a recent press release by the Orange County District Attorney's office.

The trio are alleged to have defrauded hundreds of distressed homeowners by guaranteeing a loan modification, and promising to negotiate lower interest rates, reduce principal, and have lenders forgive second mortgages or late fees. Clients were required to pay in advance for their services that were never provided. In total, they are accured of fraudulently taking $1.25 million, including over $350,000.00 from credit card companies who had to refund cardholders for the fraud. The defendants are further accused of soliciting client referrals in exchange for referral fees which were never paid.

Anyone with additional information, or anyone who believes they are a victim of the scam, is encouraged to contact the supervising district attorney on the case. Homeowners are advised that throughly examine the nature of services promised by those offering loan modification services, and are discouraged from paying professional fees in advance.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

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