North Texas man sen­tenced for role in mort­gage scheme

Texarkana Gazette - - STATE -

DAL­LAS—A North Texas man who took part in a scheme that swin­dled nearly $250,000 from at least 70 home­own­ers who were fac­ing fore­clo­sure af­ter strug­gling to make their mort­gage pay­ments has been sen­tenced to six years in prison.

Pros­e­cu­tors say 38-yearold Mark Demetri Stein from Car­roll­ton was part of a group of in­di­vid­u­als who mis­lead vul­ner­a­ble home­own­ers by is­su­ing them fraud­u­lent new loans that re­quired large down pay­ments. Home­own­ers were told to make all fu­ture loan pay­ments to Stein and his co-de­fen­dants.

U.S. At­tor­ney Erin Nealy Cox an­nounced Tues­day that Stein was also or­dered to pay more than $215,000 in resti­tu­tion af­ter plead­ing guilty ear­lier this year to one count of mail fraud.

Stein's co-de­fen­dants have pre­vi­ously pleaded guilty and have re­ceived sen­tences rang­ing from 15 months to 41 months.

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