A defendant who operated a bogus mortgage rescue scheme has been sentenced to eight years in federal prison.

Terry Meisinger, 75, was sentenced by United States District Judge Virginia A. Phillips, who rejected Meisinger’s arguments that his age merited a lower sentence. Judge Phillips noted that, even if Meisinger was released from prison when he was 80 years old, he would still pose a danger to the public.

Authorities said Meisinger made false promises to dozens distressed homeowners, filed fraudulent bankruptcies to delay foreclosure and rented the properties to third parties after the foreclosure proceedings were delayed. Phillips also ordered Meisinger to pay $1.5 million in restitution to victims of the scam. The defendant pleaded guilty in October to two counts of wire fraud.

“This man earned significant profits as the result of his scheme – profits that came as the result of significant financial harm inflicted upon victims,” said United States Attorney Eileen M. Decker. “This scheme operated for years and continued after my office filed a civil lawsuit and he was ordered to cease his fraudulent activities. This trail of victims, most of whom lost their homes, has earned this defendant the lengthy prison term.”

When he pleaded guilty, Meisinger specifically admitted that he defrauded one distressed homeowner by inducing him to sign a quitclaim in exchange for promises that included negotiating a short-sale agreement with his lender that would free the homeowner from his mortgage. Instead, Meisinger had a deed of trust to be recorded on the property, which was followed by a fraudulent bankruptcy on behalf of the person who supposedly now held an interest in the home. Meanwhile, Meisinger rented out the home to another person while foreclosure proceedings were stayed as a result of the fraudulent bankruptcy.

According to federal prosecutors, there were more than 250 victims of the scheme, including homeowners, lenders and renters. Meisinger “collected more than $1.5 million in illicit rent payments on more than 100 properties. Further, he caused more than 300 bogus bankruptcy petitions to be filed in the names of numerous individuals who had no knowledge their identity was being used,” according to court documents.

Meisinger also admitted that his illegal conduct violated Phillips’ court order in a prior civil matter barring the defendant from participating in the home finance or real estate industries for 10 years. Meisinger had previously also been barred from filing bankruptcy petitions. Phillips additionally imposed a $5 million civil fine on Meisinger.

The criminal case resulted from an investigation by the United States Department of Housing and Urban Development, Office of the Inspector General (HUD-OIG).

“This significant sentence demonstrates our commitment to protecting HUD’s important work in providing affordable home ownership,” said James Todak, special agent in charge of Housing and Urban Development’s Office of the Inspector General.