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10/02/12

25 year prison term for foreclosure rescue scammer

For Karlene Cheesman, Raymond Oesterle, Kevin Michael, and Cynthia Thorne, the 25-year prison term given Monday to Anthony J. DeMarco III for massive mortgage fraud was almost meaningless next to their losses.

At DeMarco's sentencing hearing in federal court in Philadelphia, each attributed the death of a parent to the devastation their families felt after losing their houses to DeMarco's scam, which was sold to victims as a foreclosure-rescue program.

"She gave up the will to live when this came to light," Cheesman said of her mother, Gloria Cheesman.

Oesterle said his father, Joseph S. Oesterle Jr., collapsed from a heart attack shortly after hearing from a state banking investigator that he had fallen victim to fraud and had lost the equity in his home

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