Riverside Man Found Guilty of Federal Charges Stemming from Bogus Debt-Elimination Services that

[TexasTowelie]

Riverside Man Found Guilty of Federal Charges Stemming from Bogus Debt-Elimination Services that Cost Victims $1.6 Million


LOS ANGELES – An Inland Empire man who operated a series of companies that purported to provide debt-relief, primarily to distressed homeowners, has been found guilty of defrauding victims who paid thousands of dollars after attending seminars that promoted a “Free and Clear” program pitched by the defendant and his salespeople.

James Ignatius Diamond, who went by the name “Jim Diamond,” 59, of Riverside, was found guilty of 30 fraud charges late Wednesday in United States District Court.

“Between 2010 and 2013, [Diamond] sold fraudulent debt-elimination services to desperate victims thrown into financial crisis by the Great Recession,” according to court documents. Diamond owned and operated a number of businesses – including the Riverside-based Transmitting Assets, Inc., Operation Safe Haven, Buyer Beware, and Unlimited Logistics Corporation – that he claimed could wipe out the debts of homeowners behind on their mortgage payments, as well as other debts.

The evidence presented to the federal jury over the course of six days showed that the “Diamond Home Reclamation Method” was pitched to solicit victims with false promises that Diamond’s methods would entirely eliminate their mortgages and allow people to own their homes “free and clear.”

Read more: https://www.justice.gov/usao-cdca/pr/riverside-man-found-guilty-federal-charges-stemming-bogus-debt-elimination-services