Business owner accused of stealing money from residents across M - WNEM TV 5

Business owner accused of stealing money from residents across Michigan

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Felony charges have been filed against a man for allegedly stealing money from residents across Michigan who were facing mortgage foreclosures or needed help managing their credit card debt.

On Thursday Michigan Attorney General Bill Schuette announced the thirty-five charges against Pasquale Longordo, 39, of Birmingham, and his company Modify Loan Experts, LLC.

Longordo and Modify Loan Experts allegedly promised victims that they would have an attorney assigned to represent them and negotiate mortgage modifications on their behalf with mortgage companies.  But prosecutors claim this did not happen and many victims lost their homes as a result. 

Additionally, Longordo, who also operated a credit card debt management service, allegedly told debt management victims he was putting their funds into an escrow account and that he would use the payments to negotiate their debt with credit card companies.  In reality, Schuette’s office says Longordo put the victims’ funds into a regular bank account and allegedly used that account like his personal ATM.

"People who abuse the trust of their clients during a vulnerable time, for their own personal benefit, will be held accountable for their actions,” said Schuette. “I applaud the work of my Homeowner’s Protection Unit for the diligence of their investigation and hope that this case can bring some relief for his victims.”

During this time, Longordo allegedly received unemployment compensation although the Attorney General’s Office says he was ineligible, and he failed to file taxes for several of his companies.  

In addition to operating Modify Loan Experts, Longordo operated under the company names Modify Debt Experts LLC, Experts LLC, Modify Credit Experts, and DLC Group. 

Longordo has been arraigned and ordered to surrender his passport.

If you believe you have been a victim, click here to file a complaint.

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