Loan Modification: Brian Kandefer Fraudster Sentenced

FraudsWatch.com
Loan Modification

<p><strong>Brian Kandefer&comma;<&sol;strong> 37&comma; San Diego&comma; California&comma; was sentenced to 121 months imprisonment and ordered to pay &dollar;1&period;4 million dollars in restitution after his guilty plea to wire fraud and money laundering&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;15496" aria-describedby&equals;"caption-attachment-15496" style&equals;"width&colon; 336px" class&equals;"wp-caption alignright"><a href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;loan-modification-2&sol;" rel&equals;"attachment wp-att-15496"><img class&equals;"wp-image-15496" src&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;wp-content&sol;uploads&sol;2015&sol;11&sol;Loan-Modification-1-1&period;jpg" alt&equals;"Loan Modification" width&equals;"336" height&equals;"186" &sol;><&sol;a><figcaption id&equals;"caption-attachment-15496" class&equals;"wp-caption-text"><em><strong>Loan Modification<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>According to documents in the case&comma; <strong>K2 Capital Management Inc&period;<&sol;strong> did business as <strong>US Mortgage Bailout <&sol;strong>and <strong>USMortgageBailout&period;com <&sol;strong>with physical offices located in La Jolla&comma; California&period;  Brian Kandefer was a 50&percnt; owner of K2 Capital Management Inc&period; dba US Mortgage Bailout and dba USMortgageBailout&period;com&period; <span id&equals;"more-25257"><&sol;span><&sol;p>&NewLine;<p>US <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;category&sol;mortgage&sol;" title&equals;"Mortgage" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"31">Mortgage<&sol;a> Bailout purported to be and advertised as mortgage &OpenCurlyDoubleQuote;loan experts” which had &OpenCurlyDoubleQuote;helped thousands of homeowners avoid foreclosure&period;”  US Mortgage Bailout sold mortgage loan modification products and services to persons&comma; located all over the United States&comma; including the Northern District of Indiana&comma; who were in trouble with their home mortgage loans&period;  As part of the fraud scheme that lasted from 2009 through 2010&comma; US Mortgage Bailout which included Kandefer&comma; used false advertising to defraud clients &lpar;victims&rpar; out of monies for <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;category&sol;loans&sol;" title&equals;"loan" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"177">loan<&sol;a> modifications&period;  They also did not properly communicate or represent client interests in the scheme&period;  If they did represent clients for loan modifications&comma; documentation was falsified regarding income and other financials&period;  US Mortgage Bailout had a 100&percnt; refund policy for clients who did not receive favorable outcomes&comma; yet clients did not receive any refunds despite requests&period;<&sol;p>&NewLine;<p>The sentence was announced by United States Attorney for the Northern District of Indiana&comma; David Capp&period;  Judge Robert L&period; Miller&comma; Jr&period; sentenced Kandefer&period; This case was the result of an investigation by the United States Department of Housing and Urban Development&comma; Office of Inspector General and the Internal Revenue Service&comma; Criminal Investigation Division&period;  The case was handled by the Assistant United States Attorney Donald J&period; Schmid&period;<&sol;p>&NewLine;

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