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three years of formal probation for stealing $6.9 million from investors in a Ponzi and real estate fraud scheme.

A “hard money lender” is a private investor who provides money to borrowers looking for funds from non-bank lenders.

Helsing, of Tustin, pleaded guilty on Oct. 3, 2011, to 55 felony counts of grand theft, seven felony counts of filing false recorded documents, six felony counts of elder financial exploitation, and sentencing enhancements for white collar crime more than $500,000 and excessive taking more than $1 million and $1.3 million, according to the O.C. district attorney’s office.

Between May 2004 and June 2007, Helsing defrauded about a dozen people in a Ponzi and real estate fraud scheme, operating as a broker for “hard money lenders” through his four Orange County-based businesses, including Sea View Investments, HLHS Financial Services Inc., Foothill Realty and Sea View Mortgage.

He stole from his private investors, keeping the money they lent for borrowers and not funding the loans as promised.

Helsing supplied investors with bogus interest payments by taking small sums from their initial investment and providing them with falsified and forged documents to prevent them from discovering that the loans had not been repaid. Helsing embezzled the money and failed to return it the investors’ initial principal.

Malesh said the main function of the task force is to give the D.A “street information.”

“Having a close working relationship with law enforcement is a critical part of battling fraud,” he said.

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