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Two Bay Area men who ran mortgage scheme sentenced to prison
By: Associated Press | ∞
SAN FRANCISCO -- The two founders of a Bay Area company that prosecutors say victimized thousands of people in a mortgage scheme will be spending a long time behind bars.
Kurt Johnson of Sunnyvale was sentenced Tuesday to 25 years in prison, while Dale Heineman of Union City was sentenced to nearly 22 years after both were convicted of multiple counts of fraud and conspiracy to commit fraud.
Federal prosecutors say through their Union City-based Dorean Group, the 45-year-old Johnson and the 48-year-old Heineman promised customers -- for a fee -- that they could eliminate their mortgages.
Prosecutors say as many as 3,500 homeowners and at least 20 lenders in 35 states were victimized.
A hearing for to determine how much restitution the two men will have to pay is scheduled for June.
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