VA Beach man accused of mortgage fraud

VIRGINIA BEACH, VA (WWBT) - A Virginia Beach man is accused of running a mortgage rescue fraud.

Federal prosecutors say this guy pocketed a big chunk of cash.

The eight-page indictment accuses Howard Shmuckler of stealing $3 million from his clients.

Police took him away in handcuffs from his Virginia Beach home Wednesday.

His company's website describes the business as a "Professional Mortgage and Finance Consulting Firm."

But prosecutors say that's not the case.

The indictment states that Schmuckler and others convinced clients to sign up with them to modify their mortgages.

Prosecutors say that work was never done and Schmuckler pocketed the cash.

The indictment also states Shmuckler told clients to end contact with their mortgage companies and to stop making payments to their lenders.

Shmuckler is due in court August 11 on seven counts of wire fraud.

His company was based in Northern Virginia.

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