(Source: Eddie Jimenez) – Two Fresno men accused of defrauding hundreds of people by promising to consolidate debts were arrested Thursday. U.S. Attorney Benjamin B. Wagner said a federal grand jury returned a 46-count indictment May 31 against Sharanjit Kaur, 36, and Baljit Singh, 47, on charges of conspiracy, mail and wire fraud, and international money laundering. Customers paid more than $400,000 to the defendants, Wagner said. The indictment alleges that from June 2010 to June 2011 the two men owned and operated three businesses to defraud people throughout the country. Kaur and Singh told potential customers their companies could provide debt consolidation. They also falsely promised they could renegotiate debts with creditors and mortgage lenders, obtain low-interest loans for customers, assist in avoiding lawsuits, lower car payments, replace high-interest credit cards with lower ones and correct errors in credit reports, the indictment said. The defendants’ companies were called Consumer…
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Linda Blackwell of Reidsville, North Carolina, was recently scammed out of a thousand dollars by an online debt consolidation company offering to loan her money. She was told to send in $500 to qualify for a $5,000 loan, which she did, but the loan never came. When she finally got someone on the phone, she was told there was a problem but that she could get $10,000 if she sent another $500. So guess what she did?
Following the nationwide foreclosure epidemic comes one more thing homeowners need to look out for. We’ve written multiple times about mortgage modification scams and it’s in the news again recently. The Detroit Free Press reported this week in the USA Today on what could save you thousands of dollars, or even your home. The scam stems from the nearly $30 billion set aside for the government’s foreclosure prevention initiative called HAMP (Home Affordable Modification Program). Applying for the program is free, as is access to housing counselors to guide you through the process. But those perpetrating the scam advertise online, on the radio, on TV and in print with official looking material aiming to convince desperate and under-water homeowners to pay them on promises of lowering their monthly mortgage payment better than they could on their own. So far, these mortgage modification scams have led to criminal charges brought against…
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