Foreclosure Rescue Agents Beaten, Robbed.

Published: October 28, 2009

In a case that smacks of poetic justice, though not necessarily justice served, 5 people in Los Angeles have been charged with torturing and robbing two men they claim swindled them in a foreclosure rescue scheme.

Prosecutors claim that two of the individuals hired two loan modification agents in hopes of saving their home but believe the men just took their money and did nothing. WOW! That’s hard to believe, eh? Prosecutors claim the ‘victims’ were lured to an office where they were held for hours, beaten and robbed before one of them escaped and notified authorities. “The two allegedly sought loan modification assistance from the victims but believed that nothing was being done and wanted their money back,” a statement from the district attorney’s office said.

What makes this case noteworthy (at least to me) is that in customary news media fashion, the names of the the accused have been well publicized but the name of the alleged swindlers is being withheld for their protection. This is one reason fraud continues to flourish – the names of the true victims is often published while the perpetrators (in this case identified as ‘victims’) is withheld.

Of course I am not in a position to know whether the ‘victims’ in this case were truly victims or if they were scam artists who got a much deserved ass-whooping. I suspect if more fraud perpetrators were treated to a good old fashioned ass-whoopin’, we would start to see a lot less prevalence of the problem.

I’m hoping the LA Prosecutor manages to devote as much time to finding out if these people were really innocent legitimate business people or if they were among the multitude of scam artists cluttering up our industry. I’m hoping the next headline I see is: ‘Torture Victims Released From Hospital – Taken Directly to Jail For Mortgage Fraud Scheme.’

Ironically, this happened the same day Los Angeles housing advocates launched a campaign warning consumers of  mortgage rescue scams.

The world is all topsy toivy.

Last modified: October 28, 2009 at 12:52 pm | Originally published: October 28, 2009 at 12:52 pm
Printed: September 28, 2020