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California Man Arrested in $12M Loan Scam
SANTA ANA, California – Ronald Rodis, 49, of Irvine, has become the third defendant taken into custody in relation to a scheme that offered bogus loan modification assistance to struggling homeowners, netting over $12 million in fees from more than 1,800 financially distressed homeowners.
Rodis, who lost his law license in 2009, surrendered to federal agents this morning on charges alleging that he participated in, and lent his name and the law license he formerly possessed to, the fraudulent operation known as the Rodis Law Group and America’s Law Group.
Federal agents yesterday arrested Bryan D’Antonio, 47, of Brea, and Charles Wayne Farris, 53, of Aliso Viejo, for their roles in the operation of the Rodis Law Group and America’s Law Group, businesses that allegedly offered bogus loan modification assistance.
As a result of the scheme, more than 1,800 financially distressed homeowners cumulatively lost at least $12 million in fees they paid to the companies, the indictment alleges. Many homeowners also lost their homes to foreclosure.
According to the indictment, during a nine-month period that began in October 2008, the Rodis Law Group and America’s Law Group allegedly defrauded distressed homeowners by making false promises and guarantees regarding the companies’ ability to negotiate loan modifications from the homeowners’ mortgage lenders.
“Posing as successful lawyers, these defendants offered struggling homeowners false hopes and bogus promises of quality legal representation,” said United States Attorney André Birotte Jr. “The market offering loan modifications is rife with fraud, which is why we have redoubled our efforts to investigate and prosecute those who engage in financial crimes that target distressed homeowners.”
The Rodis Law Group and its successor company, America’s Law Group, allegedly advertised loan modification assistance on radio stations nationwide, featuring Rodis’ voice telling homeowners that a team of experienced attorneys would negotiate with mortgage lenders.
“These arrests send a strong message to those who would prey on vulnerable homeowners during these tough financial times,” said Assistant Attorney General for the Justice Department’s Civil Division Stuart F. Delery. “If you defraud homeowners, you will be found and brought to justice.”
Bryan D’Antonio, who committed these crimes after having been convicted of mail and wire fraud in 2003 for his role in a previous telemarketing scheme, has been charged with his co-conspirators for their roles in the operation of the Rodis Law Group and America’s Law Group.
Key Facts
- State: California
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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