A key figure in a major Cleveland housing scam was sentenced Monday to five years in prison after an exclusive 5 On Your Side investigation exposed how investors were defrauded.
SAN DIEGO, Calif. - A California man indicted in a major Cuyahoga County foreclosure scam has been arrested at the Mexican border after failing to appear in court on a felony warrant issued by Cuyahoga County prosecutors.
Marc R. Tow was indicted last August on multiple counts of selling foreclosed homes in Cuyahoga County to unsuspecting investors around the country, promising to rehab them. Instead, homes were left in disrepair and investors were left on the hook.
Tow operated a company called EZ Access Funding. He was supposed to appear in a California courtroom Wednesday on a felony warrant issued by Cuyahoga County prosecutors who want Tow returned to Cleveland for prosecution.
Instead, Tow failed to appear and later was arrested near the Mexican border. It's not clear if Tow was attempting to flee the country. His $50,000 bond was revoked.
Tow was arrested and remains in the San Diego County Jail. A hearing was scheduled for later Thursday afternoon.
Sentencing abruptly delayed Monday in Cuyahoga County Common Pleas Court for key player in major foreclosure scam that ripped off investors across the country and left more than 100 homes in Cleveland abandoned.
Defendant accused in major foreclosure scam has pleaded guilty to theft and corruption charges following an exclusive 5 On Your Side investigation.