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June 3, 2011

Las Vegas Man Sentenced for a Foreclosure-rescue Scheme and Mortgage Fraud

FRESNO, CA—United States Attorney Benjamin B. Wagner announced that today United States District Judge Lawrence J. O'Neill sentenced George Eggleston, 65, of Las Vegas, to six years and nine months in prison, to be followed by three years of supervised release. Eggleston had previously pleaded guilty to charges he committed mortgage fraud and had operated a mortgage foreclosure rescue scheme to defraud homeowners facing foreclosure. The court also ordered Eggleston to forfeit $364,899, and to pay restitution to the victims of his offense. The actual amount of restitution has yet to be determined.

According to court documents, Eggleston, who did business as Nexxus and Global Legal Associates, admitted he told homeowners in California and elsewhere that he could save homes nearing foreclosure. Through his websites, he falsely and fraudulently represented that his companies used and managed attorneys to file lawsuits against foreclosing lenders for violations of state and federal laws. Eggleston claimed that Nexxus could stop and reverse any pending or completed foreclosure. Victims each paid Eggleston $1,000 per month for his services, and in total Eggleston received more than $100,000 for his fraudulent scheme. Eggleston used the money for his own personal expenditures and not for the benefit of his clients.

In addition, court documents showed that Eggleston also submitted a false loan application to SunTrust Mortgage for a property located in Southern California. As a result of this fraudulent representation, Eggleston received the loan. When the home went into foreclosure, this resulted in a loss to SunTrust of $261,000.

This case was the product of an investigation by the United States Trustee's Office and the Federal Bureau of Investigation. Assistant United States Attorney Michele Thielhorn prosecuted the case.

Source: United States Attorney's Office for the Eastern District of California

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