LOS ANGELES (AP) -- Three men have been sentenced to federal prison for a $2.4 million mortgage fraud scheme targeting California central coast lenders.
Federal prosecutors in Los Angeles say the defendants conspired to defraud lenders by preparing loan packages containing false information about borrower employment and assets.
The victims included Homecoming Financial, Freddie Mac, Bank of America and Carrington Mortgage Company.
A judge on Monday sentenced 36-year-old Brian Armet of Santa Margarita to a year and a day in prison, 37-year-old Rigoberto Hernandez of Santa Maria to eight months and 42-year-old Julio Tamayo of Santa Maria to six months.
The defendants were ordered to pay $2.4 million in restitution to the four lenders.