The paralegal also served as a settlement agent for a foreclosure rescue scheme where distressed homeowners in Brooklyn and the Bronx were induced to "sell" their deeds to innocent straw buyers who would in turn apply for loans and "save" the homes. In the next step, the defendants defaulted causing homeowners to lose title to their property. This left lenders with hundreds of thousands of dollars in unpaid loans.
The paralegal pleaded guilty to two counts of conspiracy to commit mail, wire and bank fraud and was sentenced to two concurrent three-year prison sentences. Judge Richard J. Howlwell of the Southern District of New York directed the paralegal to forfeit $7 million and pay roughly $11.6 million in restitution.
C'mon folks, say it ain't so.