The felony complaint alleges that Nehad "Nick"
"These individuals profited from the fear and desperation of hard working Californians who were simply fighting to keep their homes during the height of our state's foreclosure crisis," Attorney
The suspects are charged in a 24 count complaint of felony grand theft, personal and corporate income tax evasion and conspiracy. The suspects were booked at
According to court filings, Ayyoub and his colleagues took advantage of homeowners who were desperate to lower their mortgage payments by selling them home loan modification services and requiring payment of up-front fees. Homeowners were falsely told that attorneys would be negotiating their loan modifications, that they would get a loan modification with no risk of failure, that they would receive a refund if they were dissatisfied and that the suspects had special contacts with lenders, which would give them an advantage in obtaining lowered monthly payments.
Homeowners were instructed to stop paying their mortgage and to instead give the money to Ayyoub and his colleagues to ensure that they would obtain a loan modification, causing many victims to default on their home loans without obtaining a modification, according to court filings.
The suspects operated this scam from
Homeowners who feel they may have been victimized should file an online complaint with the
Agents with the
Please note that a complaint contains only allegations against a person and, as with all defendants, those named here must be presumed innocent unless and until proven guilty.
A copy of the complaint can be found attached to the electronic version of this release at: https://oag.ca.gov/news
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