Richard Henri Fecteau, 52, the former operator of a foreclosure rescue company called Team Fecteau, has been sentenced to 18 years in state prison.
In April, Fecteau was convicted by a Sacramento County jury of 23 felony real estate fraud charges related to grand theft, recording false documents and illegally acting as a foreclosure consultant. Sacramento Superior Court Judge Majorie Koller handed down his sentence and ordered ordered Fecteau to pay more than $35,000 in restitution to the many victims he defrauded.
Fecteau’s foreclosure rescue company ran a scheme whereby he directed homeowners to deed their properties properties to a trust. The trusts were held by people who had recently filed bankruptcy and Fecteau was a co-trustee, which placed an automatic stay against foreclosure of the properties. The duped homeowners were told to make no more payments to their lenders and instead to make monthly payments to Fecteau.
Read the original article in the Sacramento Bee.