Nevadan sentenced to prison for bilking banks, homeowners
HONOLULU -- A Nevada businessman convicted in federal court in Hawaii of cheating two Oahu homeowners out of their homes and banks out of their loan proceeds has been sentenced to six years in prison.
John Gilbert Mendoza was also ordered to pay total restitution of $881,000 to three different victims.
The 58-year-old Mendoza was convicted in February of 22 felony counts, including conspiracy, fraud, money laundering and failure to file tax returns.
Prosecutors said Mendoza told homeowners he had a plan to get them out of foreclosure. Instead, he organized sales to third-party buyers who obtained loans and Mendoza kept the money, $431,000 in all.
When the loans defaulted, the properties fell into foreclosure and were sold.
