Lonnie Glenn Schmidt, 71, who was convicted of real estate fraud relating to foreclosure consulting, has been sentenced to more than 24 years in prison, according to the the Sacramento County District Attorney’s Office. He was found guilty of 30 felony charges involving foreclosure consultant fraud, recording false documents, unauthorized use of personal identifying information, second-degree burglary, perjury, grand theft and attempted grand theft. Jurors also found that Schmidt was subject to out-on-bail, white-collar crime and property loss enhancements.
Prosecutors said that between 2009 and 2013, Schmidt promised homeowners in distress that he would eliminate their mortgages. The homeowners who signed up with Schmidt gave him control over their properties, which he then tried to use those properties as collateral for personal loans. He even attempted to sell them outright for his own profit, yet charged his victims rent to continue to remain in what they thought were their homes.
Read the original article published by the Sacramento Count District Attorney’s Office.