Man, woman arrested for foreclosure scam

A Los Gatos man and a Fremont woman face state and local felony charges over a foreclosure scheme.

October 4, 2010 5:58:27 PM PDT
A Los Gatos man and a Fremont woman face state and local felony charges over a foreclosure scheme.

Prosecutors say Michael Young and Angeline Lizarrago targeted Spanish-speaking and Southeast Asian homeowners.

Investigators say they promised to prevent foreclosures be renegotiating loans.

Customers were charged $1,500 to begin the process, and were promised a refund if things didn't work out.

Young and Lizarrago face eleven counts of fraud and theft totaling more than $50,000.

The Alameda County District Attorney's Office thinks there may be more victims in the Avemos Group foreclosure scam. Those who think they may have been victimized are asked to call: 1-877-288-2882


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