Read how a con-man managed to cheat people in return for loan modifications.
Jason Vitulano plead guilty and was sentenced to 11 years in federal prison. He also got an order to pay restitution of $5.9 million dollars in a West Palm Beach Courthouse. This is after running a boiler room scheme targeting troubled homeowners for mail and wired fraud. Between 2008 and 2009 the Boca Raton man who was operating boiler rooms would promise to attain loan modifications for homeowners who had fallen back of their mortgage payments by securing the fees upfront. In fact, there were nearly 2,000 victims; very few of which were actually provided with modifications, who paid well over $7 million dollars.
Furthermore, the Boca Raton man was the ringleader of a group of 10 other offenders all of whom plead guilty. In fact, this group of con artists deceived thousands of homeowners. That is, those who were fighting to keep their homes by hustling money out of them with no fruit to their labor in the Boca Raton and Deerfield area. Additionally, the man had two previous charges, one in Pensacola and the other in Palm Beach County for mortgage fraud. In the Pensacola case, he was sentenced to six years; which he will serve first followed by the 11 years on this new case.
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