Los Angeles man sentenced for $17M real estate scam
LOS ANGELES (AP) — A Los Angeles man who was convicted of running a real estate scheme that conned elderly people out of their homes has been sentenced to 20 years in prison.
Seventy-year-old Michael Henschel of Van Nuys was sentenced Monday for the $17 million scheme. He pleaded guilty to mail fraud in May.
Prosecutors say Henschel and others tricked homeowners into signing fraudulent deeds that used their property as collateral for fake loans; stole title to others and also used a variety of phony legal actions and bankruptcy, foreclosure and eviction schemes to gouge some victims.
Authorities say some people lost their homes or their life’s savings.
Seven other people have been convicted in the scam and await sentencing.