In a troubling case that highlights the risks of mortgage rescue programs, two Las Vegas men, Gary Dimattia and Lawrence Bateman Jr., stand accused of defrauding homeowners in one of the most harmful financial scams to hit Nevada in recent years. The pair allegedly ran a fraudulent scheme through their company, Financial Link Services, preying on vulnerable homeowners struggling with the challenges of refinancing their mortgages during the height of the housing crisis. Their operation not only tarnished the reputation of legitimate mortgage assistance programs but also devastated the lives of countless individuals who trusted them with their hard-earned money.
The Alleged Scheme: A False Promise of Relief
According to the indictment returned by a Clark County grand jury on August 15, 2012, Dimattia, 62, and Bateman, 36, engaged in a deceptive scheme that spanned from April 2009 to August 2010. During this period, they allegedly made false claims to homeowners in desperate need of assistance, offering them the hope of refinancing their mortgages through a non-existent balance reduction program. The fraudulent program promised to reduce homeowners’ mortgage balances, ultimately helping them save money and avoid foreclosure. But as investigators have revealed, the program was nothing more than an elaborate lie designed to extract thousands of dollars from unsuspecting victims.
Homeowners were told they would be able to refinance their mortgages at more affordable rates, thanks to the intervention of Financial Link Services. In reality, no such program existed, and Dimattia and Bateman never had any intention of helping the victims. Instead, they collected large upfront fees ranging from $3,495 to $3,895, fees that many homeowners could ill afford but paid in the hope of resolving their mounting financial difficulties. These victims were left empty-handed, with their money gone and their mortgages unchanged.
Nevada Department of Motor Vehicles Gary Dimattia
Nevada Department of Motor Vehicles Lawrence Bateman
A History of Deception
The indictment lists 18 separate charges, including mortgage lending fraud and theft. The pair’s operation was allegedly designed to take advantage of homeowners during one of the most financially precarious periods in modern history—the aftermath of the 2008 housing crash. As foreclosures surged and mortgage refinancing options grew scarce, individuals like Dimattia and Bateman saw an opportunity to exploit people’s fears and desperation.
The fraud was not a single, isolated incident. Instead, it was a calculated effort to deceive homeowners, tricking them into believing they were on the verge of financial relief when, in fact, they were being targeted by a fraudulent enterprise. The scale of the operation, as indicated by the 18-count indictment, suggests that this was a systematic effort to swindle people out of their hard-earned money.
For many victims, the emotional and financial toll has been devastating. Homeowners struggling to keep their homes were promised a solution but were left with more debt and even greater uncertainty about their futures. The consequences of this fraud were far-reaching—victims were not only financially harmed, but they were also subjected to further distress and anxiety, which only compounded the already difficult situation they were facing.
The Price of Trust: Thousands Lost
The fees charged by Dimattia and Bateman were often substantial, ranging from $3,495 to $3,895. For many homeowners, this was not a sum they could afford to lose. In fact, these fees often represented a significant portion of the victims’ savings or the last of their disposable income. Homeowners were convinced that this upfront fee was a necessary part of the program, believing that once they paid, they would be able to secure a more manageable mortgage.
Instead, they were left with nothing but a bill and a ruined financial future. Many of the victims were already struggling to make ends meet, often facing foreclosure or unable to refinance due to their financial difficulties. The money they paid for these nonexistent services became a lost investment, and the financial consequences of this scam were dire.
The true tragedy of this case is not just the money stolen, but the emotional toll it took on homeowners who were already in a fragile state. Many victims had placed their last hopes in Financial Link Services, only to discover that they had been duped. Some had to deal with the shame of being scammed, further adding to the psychological distress caused by the already overwhelming financial pressures they were under.
Legal Action and Accountability
The Nevada Attorney General, Catherine Cortez Masto, has made it clear that the state is committed to holding those responsible for such fraud accountable. Masto expressed her concerns about mortgage and foreclosure rescue scams, calling them a “big threat” to Nevadans. “I encourage potential fraud victims of Financial Link Services and others in similar cases to report it to our office so we can investigate and prosecute,” she said in a statement.
The indictment represents a critical step toward holding Dimattia and Bateman accountable for their actions. If convicted, the two men face up to 20 years in prison for their involvement in the scheme. This potential sentence serves as a warning to others who might consider engaging in similar fraudulent behavior. However, for the victims, the long road to justice may not necessarily lead to full restitution for the financial harm they have suffered. While criminal charges may bring a sense of justice, the emotional scars and financial losses inflicted by the scam will remain long after the court case has concluded.
The Broader Problem: Mortgage Scams in Nevada
The case against Dimattia and Bateman is not an isolated one. It reflects a much larger and more pervasive problem in Nevada and across the United States: the rise of mortgage rescue scams. These scams typically prey on individuals who are in financial distress, offering them false promises of mortgage modifications or relief from foreclosure. In many cases, the scammers operate under the guise of legitimate financial services, exploiting the trust of homeowners who are looking for a way out of their financial difficulties.
Mortgage rescue scams have flourished in the aftermath of the housing crisis, as millions of Americans faced foreclosure and struggled to make their mortgage payments. For many, the promise of a simple solution to their financial troubles seemed too good to be true. But for those who fell victim to these schemes, the aftermath was anything but simple. As Dimattia and Bateman’s case demonstrates, these scams not only robbed victims of their money but also created a sense of betrayal and hopelessness, leaving homeowners in an even worse position than before.
Protecting Yourself from Mortgage Fraud
As homeowners continue to face financial uncertainty, it is crucial to stay vigilant and avoid falling prey to similar scams. While there are legitimate services that can help homeowners modify their mortgages or avoid foreclosure, it is important to do your research and verify any program before committing to it. Here are some tips to help protect yourself from mortgage fraud:
- Be Skeptical of Upfront Fees: Legitimate mortgage modification programs typically do not require upfront fees. Be wary of companies that demand payment before providing any services.
- Research the Company: Before signing any agreements, take the time to research the company offering the mortgage rescue services. Look for reviews, complaints, and any history of fraud.
- Contact Your Lender: If you are struggling with your mortgage, consider reaching out directly to your lender or a HUD-approved housing counselor. They can provide you with legitimate options for assistance.
- Report Fraud: If you suspect you have been the victim of a mortgage scam, report it immediately to your state’s Attorney General or the Federal Trade Commission. The sooner you act, the better your chances of recovering your losses.
Conclusion
The case of Gary Dimattia and Lawrence Bateman is a stark reminder of the dangers posed by fraudulent mortgage rescue programs. Their scheme not only caused severe financial harm to homeowners but also further eroded trust in programs that are supposed to help those in need. For the victims of Financial Link Services, the road to recovery will be long, and their losses may never be fully compensated.
However, the indictment of Dimattia and Bateman represents a step toward justice, and the case serves as a warning to others who might consider exploiting vulnerable individuals for financial gain. The hope is that by shining a light on this fraudulent operation, we can prevent similar scams from targeting more homeowners in the future. Until then, it is essential for consumers to remain cautious and informed, ensuring that they do not fall victim to the next wave of mortgage fraud.
