Robert Sedlar, who served as the President of Grand View Financial LLC, was recently sentenced to 25 years in prison for his involvement in a mortgage fraud scheme that targeted homeowners in San Diego County. Sedlar was found guilty on 100 felony counts for a mortgage fraud scheme.
The scheme targeted financially vulnerable homeowners by offering them assistance through Sedlar's "mortgage investment company." However, instead of helping them, every single victim lost their home to foreclosure.
Grand View Financial promised homeowners that they could eliminate their mortgage lien by transferring the title of their home to the company and paying a monthly fee. The company would then return the home to the homeowner, free of all liens.
However, Sedlar and his company filed false documents with the court and county recorders offices, including fraudulent bankruptcies, which stalled the foreclosures but did not eliminate any liens.
As a result, the scheme's victims lost over $7 million. In addition to San Diego County, victims were also located in San Mateo, Alameda, Contra Costa, San Joaquin, Placer, Solano, Mendocino, San Francisco, El Dorado, and Sacramento Counties.
The sentencing was announced by Attorney General Bonta, who clarified that fraudulent schemes like this will not be tolerated in California.
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