Nevada Attorney General Catherine Cortez Masto announced that on March 6, Gary Dimattia, 62, of Las Vegas, pled no contest to ten felonies in connection with his operation of a mortgage lending fraud scam, including four counts each of mortgage lending fraud and theft, one count of multiple transactions involving fraud and deceit in the course of enterprise or occupation and one count of pattern of mortgage lending fraud.
“I am pleased my office is again able to prevent perpetrators from committing mortgage and foreclosure rescue scams,” said Masto.
Operating under the name Financial Link Services, Dimattia peddled a so-called “Balance Reduction Program” promising to arrange to have investors purchase his clients’ mortgages from their lenders and refinance his clients at current market value, thereby eliminating negative equity and reducing monthly payments. He typically charged $3,495-$3,895 up front but failed to deliver the promised services or refund the fees.
Dimattia faces up to 110 years in prison when Clark County District Court Judge Abbi Silver sentences him on Sept. 5.
In addition, Dimattia faces separate charges of burglary, filing false instruments with the Nevada Secretary of State and perjury.
This case was prosecuted by Senior Deputy Attorney General Segal, Deputy Attorney General Gary Mathews and Deputy Attorney General Sarah Overly of the Attorney General’s Mortgage Fraud Unit.