Valley Man Admits To Ripping Off Distressed Homeowners

LOS ANGELES, CA — A North Hollywood man pleaded guilty Monday for his role in a $17 million real estate to take advantage of distressed homeowners, including several elderly residents.

Camerino "Mino" Islas, 41, faces up to five years in prison Aug. 26 when he is sentenced, according to the U.S. Attorney's Office. Islas was part of a scheme to defraud homeowners in fear of losing their homes. According to prosecutors, Islas and co-defendants tricked homeowners into signing fraudulent deeds on their properties, then used the bogus deeds to extort money, charge illegal fees to delay foreclosure and eviction actions, and steal some homes outright.

The scheme's alleged ringleader is yet to face trial. Michael "Mickey" Henschel, 70, of Van Nuys has a long history of preying upon vulnerable homeowners, according to federal prosecutors. He is slated to go to trial at the end of the month, and he was already under indictment in a previous foreclosure-avoidance and bankruptcy fraud scam when he was arrested last year.

City News Service and Patch Staffer Paige Austin contributed to this report.