Ohio Foreclosure Fraud Scheme Charges

The indictment charges that between 2001 and 2005, James A. Warsing, using his company, WJW Enterprises, devised a scheme to defraud various homeowners threatened with foreclosures, by falsely promising he could save the homes from foreclosure. It was further alleged that Warsing fraudulently obtained large sums of monies from homeowners promising to use such monies to settle their accounts with lenders but used the money for other personal and business purposes.

As a further part of the fraud, Warsing used the United States mails to send advertisements for WJW Enterprises to prospective clients and to receive checks from homeowners. It was alleged that Warsing collected over $500,000 from homeowners during the period 2002 through 2004.

The actual sentence in this case, upon conviction, will be determined by the Court under the Federal Sentencing Guidelines which depend upon a number of factors unique to each case, including the defendant’s prior criminal record, if any, the defendant’s role in the offense and the unique characteristics of the violation. In all cases the sentence will not exceed the statutory maximum and in most cases it will be less than the maximum.

An indictment is only a charge and is not evidence of guilt. A defendant is entitled to a fair trial in which it is the government’s burden to prove guilt beyond a reasonable doubt.

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source: mortgagefraudblog.com