California Real Estate Fraud Report

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04
Oct

Tujunga Man Sentenced to Prison for Getting 4 HELOCS on the Same House

A  man from the San Fernando Valley community of Tujunga is going to prison for more than 3 years for lying to banks in order to obtain home equity lines of credit (HELOC) on his home’s mortgage.

David Han, aka Young He Kim, pleaded guilty to four counts of bank fraud. He brazenly had filed four loan applications to four different banks on his only property.

United States District Judge Manuel L. Real ordered Han, 50, to pay $1.1 million in restitution to the victims/banks.

Read the original article in the Sacramento Bee. 

This entry was posted on Thursday, October 4th, 2012 at 2:46 pm and is filed under Bank Fraud, Loan Fraud, Mortgage Fraud. Responses are currently closed, but you can trackback from your own site.

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© Copyright 2007-2013 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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