September 22, 2017 / 10:29 PM / 10 months ago

Judge levies $18 mln penalty on Calif. man over deceptive mortgage relief scheme

A federal judge in California has ordered an Orange County businessman to pay $18 million in penalties after determining that he deceptively marketed mortgage relief to homeowners in a scheme halted last year by the Federal Trade Commission.

In a ruling on Thursday, U.S. District Judge Beverly O’Connell in Santa Ana also permanently barred the man, Jeremy Foti, from offering debt relief services, saying his wrongdoing dated back at least to 2011 and would likely would be repeated.

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