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A Florida man who engaged in a fraudulent mortgage audit operation is facing the prospect of up to 20 years in prison after pleading guilty to conspiracy to commit wire fraud.
Brian Roy Lozito owned and managed American Investigative Services (AIS), which targeted consumers by offering a mortgage auditing service. According to the charges brought against him, Lozito and his conspirators solicited customers nationwide through mailings and telephone calls that made false representations to consumers, including that their firm performed “forensic audits” of mortgage documents that could detect deficiencies within the paperwork. Lozito also claimed AIS would obtain quitclaim deeds and other remedies that would allow mortgage holders to be relieved of their mortgage debt and have full ownership of their properties.
Lozito also pledged he would refund consumers if AIS could not help them. However, AIS never performed their promised services and did not refund money to consumers. The consumers’ payments went into bank accounts controlled by Lozito, who used the money to fund his operation and to cover personal expenses.
Lozito was arraigned on the indictment on Jan. 11, 2021, and was initially released on bond. The court revoked his bond on Nov. 18, 2022, and ordered him detained. A sentencing date has not yet been set.
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The long are of the law takes too long to extend itself
AGREED!
Who prosecuted him? I had something similar in 2017 and contacterd the feds but never received a return email nor call.
It appears the “long arm of the law” was ‘short’ in your case.