Man Held, Partner Sought in Credit Repair Scam
Two owners of a West Los Angeles credit repair business face criminal charges that they swindled customers out of more than $200,000 for services never rendered, officials said Thursday.
The owners of American Home Buyers Assn., John Robert Young, 31, and Richard Ian Silver, 44, collected advance fees from customers for home buying and credit repair services that were not delivered, said Deputy City Atty. P. Greg Parham.
Young was arrested at his home in South Pasadena at 11 p.m. Tuesday on suspicion of conspiracy to commit grand theft and is scheduled to be arraigned March 17, Parham said.
Silver, a Venice resident, is considered a fugitive. A $150,000 warrant for his arrest on the same charge has been issued.
The two men also face charges that they used false and misleading advertising, operated as real estate brokers without being properly licensed, and violated the state Credit Repair Act.