Prevent Loan Scams
Newsroom

News Clips

07/23/12

Woodland Hills broker sentenced for loan modification scam

A Woodland Hills loan broker has been sentenced to six months in jail after pleading no contest to bilking victims out of thousands of dollars in a loan modification scam, City Attorney Carmen Trutanich announced Friday

Carlo Hamrahi, 40, of Glendale, was ordered Thursday by Los Angeles Superior Court Judge Yolanda Orozco to begin a 180-day sentence for five misdemeanor counts of grand theft and identity theft.

He was also ordered to pay $18,500 in restitution.

"He swindled these people, bamboozled these people out of thousands of dollars," said Frank Mateljan, a spokesman for the city attorney. "And did absolutely no work."

The owner of Evans Enterprise & Associates in Woodland Hills preyed upon American-Armenians in the San Fernando Valley, according to the city attorney's office.

Since 2010, Hamrahi solicited money from five victims, claiming he could cut their mortgage interest rates through government programs. He failed to perform the work.

As part of his five-year probation, Hamrahi was barred from conducting any real estate loans, modifications, servicing and any real estate-related transactions.

Read full article here