Four Guilty Pleas in 1st American Law Center Loan Modification Fraud Case
Four men associated with 1st American Law Center have pleaded guilty to conspiracy charges in San Diego federal court of fleecing desperate homeowners of more than $11 million in a loan modification fraud.
Gary Michael Bobel, 59, Scott Thomas Spencer, 35, Mark Andrew Spencer, 32, and Travis Corey Iverson, 35, have entered their guilty please. A fifth employee, Roger Trent Jones, pleaded guilty last year and was sentenced to 21 months for his participation.
Gary Bobel opened up the loan modification business in 2008 with business partner Dean Chandler, who paid for the advertising. Homeowners were charged from $1,995 to $4,495 for loan modification “services” and were told, falsely, as it turned out, that a team of attorneys at the firm had a 98% success rate in getting homeowners the loan modifications they needed.
Read the original article in 10News.com. Click here to watch a video recording of the story on 10News.com. If you google “1st American Law Center” you will find many complaints about this business that have been posted.