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July 19, 2000 | MYRON LEVIN, TIMES STAFF WRITER
A former Woodland Hills mortgage broker accused of bilking borrowers and lenders out of millions of dollars was sentenced Tuesday in San Jose to three years in state prison. Edward Rostami, 38, was sentenced in Santa Clara County Superior Court after pleading no contest to four counts of grand theft and conspiracy for swindling an elderly Santa Clara homeowner in a reverse-mortgage scam. He was also ordered to pay restitution of nearly $742,000 to the victim, Irene Schuler, and two lenders.
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BUSINESS
July 19, 2000 | MYRON LEVIN, TIMES STAFF WRITER
A former Woodland Hills mortgage broker accused of bilking borrowers and lenders out of millions of dollars was sentenced Tuesday in San Jose to three years in state prison. Edward Rostami, 38, was sentenced in Santa Clara County Superior Court after pleading no contest to four counts of grand theft and conspiracy for swindling an elderly Santa Clara homeowner in a reverse-mortgage scam. He was also ordered to pay restitution of nearly $742,000 to the victim, Irene Schuler, and two lenders.
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