Foreclosure scam leads to 35-year prison sentence - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Foreclosure scam leads to 35-year prison sentence

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Associated Press

SACRAMENTO, Calif. (AP) - One of two brothers convicted of leading a nationwide foreclosure scam has been sentenced to 35 years in federal prison for stealing titles to more than 300 homes.

Federal prosecutors in Sacramento say 40-year-old Charles Head of Pittsburgh and 17 other defendants obtained more than $90 million in fraudulent loans and caused more than $50 million in losses between 2004 and 2006.

Head and his brother, Jeremy Head of Huntington Beach, California, were convicted in May 2013 of mail fraud and other charges. Charles Head was convicted of additional mail fraud charges in December.

Their attorneys did not immediately return telephone messages after Wednesday's sentencing.

Orange County-based Head Financial Services promised to help homeowners avoid foreclosure. Instead, prosecutors say they tricked victims into signing over their titles.

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