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by CareyBot

The FBI arrested two Californians last week for allegedly victimizing dozens of Los Angeles County homeowners by falsely promising they could stop foreclosures, federal authorities said, according to media reports. Martha Rodriguez, 33, of Downey, Calif., and Edward Seung Ok, 39, of Torrance, Calif., defrauded homeowners out of at least $8 million, according to an indictment by a Los Angeles federal grand jury, reports said. The pair were arrested Wednesday by the FBI for allegedly promising that co-signers would help homeowners refinance their mortgages until they could clean up their credit and get new loans, according to the Los Angeles Times. Instead, the indictment alleged, Rodriguez and Seung used falsified mortgage applications to defraud lenders and the homeowners, causing losses...