Charles Head and his brother Jeremy Michael Head have been sentenced to prison for a fraud scheme that cheated homeowners in California, the Northwest and East Coast out of their homes and damaged their credit.
According to the FBI website, the Head boys and their team of 16 cohorts preyed upon home owners who were seeking help with their mortgages.
These liars secretly added individuals who were friends and family members to the home owners’ real estate titles. Once that was accomplished, they proceeded to do maximum cash-out refinances. Altogether, they stole $15 million for themselves, which they shared with their team.
U.S. Attorney Wagner said: “This defendant purposely targeted the financially vulnerable during their time of greatest distress with promises of help. Then he tricked them into handing over their most valuable asset, their home. When victims in one scheme grew scarce, he opened up a new scheme drawing in victims from across the country. Few economic crimes are more reprehensible. No sentence will undo the damage wrought by Charles Head and his fellow scammers, but today’s sentence brings a measure of justice for their victims.” Source
Charles Head was sentenced to 35 years in prison, Jeremy Michael to 10 years. The 16 other convicted fraudsters are awaiting sentencing.