Orange County ‘foreclosure rescue’ fraud ring convicted

foreclosuresoc fraud ring convicted
A federal jury in Sacramento after a five-week trial has returned guilty verdicts against three men who operated an Orange County-based “foreclosure rescue scam,” according to U.S. Atty. Benjamin Wagner.

Convicted on Monday were Charles Head, 36, a former Los Angeles resident; Benjamin Budoff, 46, of Colorado Springs; and Domonic McCarns, 39, of Irvine.

Wagner described Head as the leader of the operation that extracted more than $5.7 million in equity from victims’ homes, many in California. Evidence in the just-completed and a previous trial revealed that Head and his co-conspirators caused more than $15 million in homeowner losses.

The scam used several names, including Head Financial Services and Creative Loans, from March 2005 to June 2006.

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