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News Release

For Immediate Release
February 9, 2010

Assistant Attorney General Karen Gorham
(603) 271-1196

Arrest for Class A Felony Theft with extended term of imprisonment, Class B Felony Mortgage Fraud, Class A Misdemeanor Mortgage Fraud

Attorney General Michael A. Delaney, Banking Commissioner Peter C. Hildreth, and Carroll County Sheriff Christopher Conley announced today the arrest of Eric W. Eliason, aka Ricky Masci, (DOB 12/28/79) for Theft by Deception, as defined by RSA 637:2, with an extended term of imprisonment; Failure to Obtain a Debt Adjustment License, Untrue Statement and Fraudulent Business Practice as defined by RSA 399-D; and Failure to Obtain a Mortgage Originators License and Untrue Statements as defined by RSA 397-A.

Eliason, 30, of Tamworth New Hampshire, is charged with crimes that occurred in connection with his business, Deaf and Hard of Hearing Mortgage Consultants. The first set of complaints allege that the defendant took up-front money to assist hard of hearing victims in completing a loan modification of their home mortgage. The complaints allege that numerous representations were made to the homeowners that the modification was in process, and then that the modification was denied. It is further alleged that the defendant had never contacted the mortgage company to perform a modification. It is also alleged that Eliason intended to take advantage of the victim's physical condition that impaired the victim's ability to manage their property or financial resources or to protect their rights or interests.

A second set of complaints allege that the defendant attempted to broker a re-finance of a home loan for another hard of hearing couple. It is alleged that he obtained up-front fees with the promise that in the event the re-finance was not completed, money would be refunded. No loan was obtained, and no money was refunded. Eliason was not licensed to conduct any of these transactions.

Arraignment will likely be scheduled for February 10, 2010 in the Southern Carroll County District Court. The charges range from a Class A Felony with a extended term of imprisonment, which carries a maximum penalty of 10-30 years in state prison and a $4,000 fine, to misdemeanors, which carry a maximum penalty of 12 months in the House of Corrections and a $2,000 fine.

These criminal charges are a result of a joint investigation conducted by the New Hampshire Attorney General's Office, the New Hampshire Banking Department, Carroll County Sheriff's Office and the DeKalb County, Illinois Sheriff's Department.

New Hampshire Department of Justice | 33 Capitol Street | Concord, NH | 03301
Telephone: 603-271-3658