Man Sentenced to 12 Years in Prison in Mortgage Rescue Scheme

In a case we reported on here, Aston Wood of Wisconsin and Florida was sentenced today to 12 years imprisonment for his role in a mortgage rescue scheme that defrauded more than 70 homeowners in Wisconsin of approximately $390,000.  Wood was able to collect mortgage payments from homeowners for months, even years, by falsely reassuring them that their payments were going to their mortgage lenders and that new loans were being finalized.  In some case, Wood convinced the homeowners to file bankruptcy.  During the pendency of the automatic stay, he successfully collected additional rents from the properties while pending foreclosures were stalled.  Wood pleaded guilty on January 6 to wire fraud and bankruptcy fraud.