Prosecutors say the five took upfront fees from homeowners promising to deliver loan modifications. They allegedly kept the money and disappeared.
The men are charged with at least seven felony counts of grand theft, plus other charges.
Jacob John Cunningham, 24, of Irvine; Justin Dennis Koelle, 23, of Costa Mesa; Andrew Michael Phalen, 25, of Mission Viejo; Dominic Adam Nolan, 30, of Irvine; and John D. Silva, 27, of Irvine, were all arrested and charged.
