Calabasas, Camarillo Businessmen among Nine Accused of Mortgage Fraud
Authorities have taken into custody four San Fernando Valley men and are seeking five more allegedly involved in a mortgage scheme that defrauded 1500 homeowners to the tune of $2.3 million.
Those already in custody include Ira Itskowitz, 58, of Calabasas, and Gregg Scott Quinn, 37, of Camarillo. Itskowitz previously served in excess of five years in federal prison on fraud-related charges.
Authorities continue to seek four suspects who served as owners of fake companies under the names Gretchen Fox and Associates and Mason Capital Group. A 2009 investigation found the bogus businesses tricked homeowners on the brink of foreclosure into paying fees of anywhere from $1500 to $5000 for mortgage modification services the two companies failed to provide.
Prosecutors said the nine businessmen instead spent the mortgage fees on personal expenses such as entertainment, private school tuition and travel. Additionally, authorities who served a search warrant at the companies’ office in Canoga Park found a sales floor filled with casino-themed items such as a roulette wheel and black jack, craps and poker tables.
For more on this story, visit The Los Angeles Daily News here.
Discuss this in the Calabasas Forum.
