Mortgage Fraudster Family Sentenced To 45 Years In Prison
Matsuba Mortgage Fraudster Family Members To Serve 45 Years In Prison
Three members of a mortgage fraudster family will spend more than 45 years in federal prison. The Matsuba family ran a $20 million mortgage fraud scheme that preyed on financially distressed homeowners for nearly a decade.
Dorothy Matsuba will serve 20 years. Whereas, her husband, Thomas Matsuba, and her daughter, Jamie Matsuba, each received a sentence of more than 10 years in jail for taking part in the nearly decade-long scheme.
The mortgage fraudster family ran a 10-year long foreclosure prevention scam that defrauded financially distressed homeowners. The Matsubas offered short sales as a way to stop a foreclosure.
However, the Matsubas never executed the short sales. They and others rented out the properties to other people and did not pay the mortgages on the subject properties. In addition, the mortgage fraudster family submitted fake documents to mortgage servicers to delay the pending foreclosures.
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