Edward Parada, 33, will serve 15 years in state prison. Authorities say Parada targeted Spanish-speaking homeowners in the city's Ingleside District. He would persuade the homeowner to refinance, then take the equity, let the house fall into foreclosure and then buy it back at a lower price at a foreclosure sale.
"So it illustrates, this illustrates really how callous and how vicious this individual was in the way that he treated people and that's why we feel very strongly that the 15-year sentence is very appropriate here," said San Francisco District Attorney George Gascon.
Parada stole over $2 million from his victims. He pleaded guilty to 24 felony counts.