VENTURA, California – District Attorney Gregory D. Totten announced today that the Honorable Matthew Guasco sentenced Canyon Lake resident Patrick Iturra (DOB 7/27/70) to 365 days in jail for his role in a fraudulent foreclosure rescue business. Iturra was convicted of two felony counts of foreclosure consultant fraud, and three felony counts of grand theft. The charges were the result of an investigation conducted by the District Attorney’s Real Estate Fraud Unit.
Iturra operated a fraudulent business under the name of Mercury Business Group. Iturra, together with co-defendants Roberto Sanchez (DOB 12/28/48) and Rosalva Sanchez (DOB 9/9/53), solicited struggling homeowners with promises of saving their distressed homes from foreclosure. The defendants received thousands of dollars from eight victims who received no actual services and were instead diverted from legitimate assistance. All but one of the victims lost their homes to foreclosure. Victims’ monetary losses totaled $100,000.
Iturra was placed on 60 months formal probation, ordered to pay $100,000 in victim restitution, and is prohibited from working in any business related to real estate or foreclosure rescue. Roberto and Rosalva Sanchez were sentenced for their role in the scheme last year.
