Two California residents involved in an extensive mortgage loan modification scheme affecting Connecticut homeowners were recently sentenced in Bridgeport federal court.
Serj Geutssoyan, also known as “Anthony Kirk,” of Santa Ana, California, was sentenced to 52 months in prison and, Daniel Shiau, also known as “Scott Decker,” of Irvine, California, was sentenced to 58 months in prison. Geutssoysan and Shiau were also ordered to serve three years of supervised release and pay nearly $2.4 million in restitution.
According to court documents and statements, Aria Maleki, Geutssoyan, Shiau and others jointly operated a number of California-based companies that falsely reported to provide home mortgage loan modifications and other consumer debt relief services to homeowners in exchange for upfront fees.
The defendants did business as the following companies:
- First Choice Financial Group Inc.
- First Choice Financial
- First Choice Debt
- Legal Modification Firm
- National Freedom Group
- Home Care Alliance Group
- Home Protection Firm
- Hardship Center
- Network Solutions Center Inc.
- Premiere Financial Center
- Premiere Financial
- Rescue Firm
- International Research Group LLC
- Hardship Solutions
- American Loan Center
- Loan Retention Firm
- Clear Vision Financial
- Green Tree Financial Group
- Green Tree Financial
- Enigma Fund Inc.
- National Aid Group
- Southern Chapman Group LLC
- Save Point Financial
- Best Rate Financial Solutions
- Best Rate Financial Solution
- Best Rate Financial
- Best Rate Finance Group
- Nation Star Financial
- Nation Star Fin Group
Maleki presided over the structure of the scheme, while Geutssoyan and Shiau acted as senior members of the sales team. The men, along with others, cold-called homeowners and charged fees ranging from $2,500 to $4,300 for their services. They mislead homeowners into believing they had been approved for the modifications and if the assistance fell through, they would be entitled to a full refund.
The scheme’s participants used pseudonyms and changed their business and operating names regularly. As a result of the scheme, more than 1,000 homeowners suffered losses totaling more than $3 million.
Maleki, Geutssoyan, Shiau and four other California residents were charged on Jan. 21 with conspiracy and fraud offenses related to the scheme. The defendants were arrested on Jan. 26.
Maleki, Geutssoyan and Shiau each pleaded guilty to one count of conspiracy to commit mail and wire fraud.
Maleki was sentenced to 112 months in prison on July 28. He also forfeited approximately $350,000 that investigators seized from various bank accounts, approximately $362,000 seized from a Bitcoin account, a $100,000 cashier’s check and a 2013 Ferrari 458 Italia.
The other four defendants also have pleaded guilty and await sentencing.
