Martin Calzada, 28, a former employee for Star Reliable Mortgage has pleaded not guilty in federal court after being charged by the Department of Justice with conspiracy to commit mail fraud and mail fraud.
Calzada is accused of charging homeowners facing foreclosure upfront fees between $2,500 to $4,500 in what the feds call a “loan elimination” scheme. He and other employees are alleged to have filed phony documents with the County Recorder’s office, replacing the homeowners’ names with trusts linked to himself and the company. The homeowners/clients were also told to stop making their mortgage payments, resulting in foreclosure actions.
Read the original article in the Visalia Times-Delta.
Update: Martin Calzada was convicted in March and is scheduled to be sentenced June 5. He could receive 30 years in prison and a $1 million fine.