Serj Geuttsoyan, 33, of Santa Ana, has pleaded guilty to federal charges for his participation in a loan modification scam that defrauded homeowners.
Geuttsoyan is the third of several defendants who admitted to operating multiple California-based companies that promised to provide home loan modifications and other debt relief services to homeowners nationwide and charged them upfront fees.
He pleaded guilty to one felony count of conspiracy to commit mail and wire fraud and was ordered to pay $3 million in restitution.
The two other defendants, Mehdi Moarefian, a.k.a. “Michael Miller,” 36, and Daniel Shiau, a.k.a. “Scott Decker,” 30, already pleaded guilty to the same charge.
Read the original article in the OC Register.