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Sacramento DA / Media / 2015 Archives / 12.10.15: 71 Year Old Convicted on 30 Counts of Real Estate Fraud Charges

71 Year Old Convicted on 30 Counts of Real Estate Fraud Charges

DATE:  December 10, 2015

CASE:   Lonnie Glenn Schmidt

PROSECUTOR:  Deputy District Attorney Dean Archibald, Real Estate Fraud Unit

Seventy-one-year-old Lonnie Glenn Schmidt was convicted by jury of 30 felony real estate fraud charges involving foreclosure consultant fraud, recording false documents, unauthorized use of personal identifying information, second-degree burglary, perjury, grand theft, and attempted grand theft.  The jury also found true out-on-bail, white-collar crime, and property loss enhancements. 

Between 2009 and 2013, Schmidt falsely promised homeowners facing foreclosure that he would save their homes by eliminating their mortgage. Desperate to believe Schmidt’s promises, homeowners who signed up for his program gave Schmidt control over their properties.  Schmidt then tried to use those properties as collateral for personal loans or tried to sell them outright for his own profit – all the while charging the victims “rent” to continue living in what had been their own homes.

Schmidt has four prior 1990 federal felony convictions for a tax scam involving conspiracy to impair and impede the IRS, witness tampering, aiding and abetting witness tampering, and conspiracy.

Schmidt faces a sentence of more than 20 years in prison.  Sentencing is set for January 8, 2016, at 1:30 p.m. in Department 14 before the Honorable Donald Currier. 

This case was investigated and prosecuted by the Sacramento County District Attorney’s Real Estate Fraud Unit.

 

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