Stephen Lester Siringoringo ran the Siringoringo Law Firm in Garden Grove, but the firm had branch offices in Rancho Cucamonga, Upland and Glendale. He and Joshua Michael Cobb have been charged with 24 felony counts of money laundering and 23 felony counts of grand theft, to which they have entered pleas of not guilty. A third man, Alfred O. Clausen, may have left the country.
The bail for both Siringoringo and Cobb is set at $17.8 million and they remain in custody.
The California State Bar’s Office of Chief Trial Counsel has indicated that over 796 complaints have been filed by homeowners who said they were charged upfront (advance) fees of $3,500 to $8,490 for loan modification services. Although they were promised their loan modification would be handled by a licensed attorney, the criminal complaint alleges this was not the case.
The taking of advance fees has been illegal since October 2009.