SAN DIEGO - A man accused of stealing more than
$100,000 from people in a land patent foreclosure scam
pleaded not guilty Wednesday to numerous felony
charges involving the 17 alleged victims.
Larry Smith, 60, allegedly told people who came to his
seminars that if they gave him thousands of dollars,
he would help them buy a land patent so the bank
couldn't foreclose on it.
San Diego 6 News reporter John Mattes first brought
the scheme to the public's attention with an exclusive
report.
Deputy District Attorney Marlene Coyne said the land
patent scheme is bogus.
None of the land patents that Smith supposedly got for
his victims prevented their homes from being
foreclosed, the prosecutor said outside court.
Smith allegedly told his victims that he could save
their properties from foreclosure by making them
sovereign, like an independent country.
The defendant allegedly used something called a
Spanish land grant, a document intended to protect the
rights of early American settlers.
Five others are charged in the case with Smith,
although only one has been arrested, Coyne said.
The prosecutor said she believes there are more people
allegedly victimized by Smith, who have not yet come
forward.
Smith was charged with conspiracy to commit grand
theft, conspiracy to commit deceitful practices by a
foreclosure consultant and numerous counts of grand
theft.
He faces 37 years to life in prison if convicted.
Judge David Szumowski ordered Smith held on $3 million
bail and scheduled a review hearing for Monday.
A readiness conference was set for Jan. 12 and a
preliminary hearing for Jan. 14.
If you have been a victim of real estate fraud, let
the
District Attorney know and let
San Diego 6 know.
