The operator of a predatory “boiler room” network that squeezed millions of dollars out of families already on the brink of foreclosure was sentenced today to ten years in federal prison.
Mohammed Zafaranchi, 43, of California, known to his associates and victims as “Mike,” was taken into custody immediately following the hearing at the U.S. District Court in Seattle.
The sentencing caps a case that exposed a sprawling scheme targeting nearly 1,000 distressed homeowners. According to federal prosecutors, Zafaranchi’s operation didn’t just steal money; it often finalized the financial ruin of his victims…