Loan Modification Scammer Jason Vitulano Sentenced to 132 Months

BOCA RATON, FL – Jason Vitulano, the mastermind behind a fraudulent loan modification scheme that bilked homeowners out of millions, has been sentenced to 132 months in prison by U.S. District Judge Kenneth Marra. The 39-year-old Boca Raton resident was also ordered to pay $5.9 million in restitution.

According to the indictment, Vitulano and his ten co-conspirators operated boiler rooms that collected advance fees from homeowners facing foreclosure. They promised loan modifications that were never delivered, targeting over 2,000 distressed homeowners across the country. The scheme netted more than seven million dollars in upfront fees.

Vitulano was previously charged and sentenced for similar mortgage fraud cases in Palm Beach County and Pensacola, Florida. His current sentence will run concurrent with his previous sentences of 63 months and 77 months.

U.S. Attorney Wifredo A. Ferrer praised the investigative efforts of the United States Secret Service and the U.S. Postal Inspection Service for their work in bringing Vitulano to justice. Assistant U.S. Attorney Lauren Jorgensen is prosecuting the case.

Defendant Jeffrey Taylor’s sentencing is set for January 23, 2015. The remaining co-defendants have already been sentenced, with prison terms ranging from 21 months to 72 months.