An Orange County man was charged Wednesday with running a $1.5 million fraudulent foreclosure scheme – after a federal judge had ordered him to pay $5 million in civil penalties in previous cases.
Terrill “Terry” Meisinger, 74, of Seal Beach was charged on June 25 with two counts of wire fraud and one count of aggravated identity theft. Meisinger, who has been in custody since June 11, was scheduled for arraignment Wednesday afternoon.
If convicted, Meisinger could face up to 20 years in federal prison on each charge of wire fraud, and two years for aggravated identity theft.
According to the U.S. Attorney’s Office, Meisinger persuaded a distressed homeowner to sign a quitclaim under the pretense that he could broker a short-sale agreement that would release the homeowner from his mortgage on a property on Monte Alban Drive in North Las Vegas, Nev.
“But, instead, Meisinger caused a deed of trust to be recorded on the property, which was followed by a fraudulent bankruptcy on behalf of the person who supposedly now held an interest in the home,” the U.S. attorney said in a statement.
“Meanwhile, Meisinger rented out the home to another person while foreclosure proceedings were stayed as a result of the fraudulent bankruptcy.”
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