Four people have been sentenced to federal prison for scheming to victimizing homeowners in foreclosure.
U.S. District Judge William B. Shubb sentenced Jesse Wheeler, 37, of Roseville to three years; Jewel Hinkles, aka Cydney Sanchez, 64, of Los Angeles to five years; Cynthia Corn, 61, of Oakland to two and a half years; and Brent Medearis, 48, of Modesto to one year and 10 months in prison.
Evidence presented by the U.S. Attorney for the Eastern District of California showed that Jewel Hinkles was the founder and general manager of Horizon Property Holdings LLC in Beverly Hills. From 2008 through 2010, she offered programs called “Save My Home” or “Homesaver” that promised homeowners she would save their homes and reduce the principal on their mortgages (loan modifications scams).
Jesse Wheeler was one of Hinkles’ affiliates and his Roseville-based company, J.W. Financial Solutions, took in approximately $2,133,376 from more than 600 victims.
Prosecutors said the defendants promised the homeowners they would buy the homeowners’ mortgages at a discount in order to reduce the principal and monthly payments. To effect this, the defendants filed fraudulent deeds (title fraud) transferring an interest in the homeowner’s property to a fictitious entity called Pacifica Group 49/II.
The case was prosecuted by Assistant U.S. Attorney Lee S. Bickley and Matthew D. Segal.
Read the original article in the Merced Sun-Star.