Here's yet another reason SoCal doesn't give us a warm and fuzzy feeling. Attorney General Harris announced yesterday that folks who were busted operating a national loan modification scam down in south have been ordered to pay a $4 million bill for their crime.
Two million dollars of this is supposed to go to consumers (that's you) who got screwed after they were falsely promised modified mortgage loans. Sound familiar?
The Attorney General had been after these housing crooks for nearly three
years. Now, she's found the business owners -- Zulmai Nazarzai,
Hakimullah Sarpas, and Fasela Sheren -- liable for violating
California's Unfair Competition Law and False Advertising Law. As
punishment, the accused scammers now have to pay $2 million in civil penalties,
and another $2 million to disgruntled customers.
refused to comply with court orders or to hand over $360,000 in money the court said he owed. A year later, Harris, sick of the housing scams herself, formed the Mortgage Fraud Strike Force to go after those nefarious
mortgages and foreclosures that have seriously harmed homeowners up and down the state.