California Real Estate Fraud Report

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11
Jun

Daly City Real Estate Broker Pleads Not Guilty in Real Estate Fraud Case

Andrew Abed Khoury, 42, San Mateo County real estate broker, pleaded not guilty Friday in San Mateo County Superior Court to 36 counts of real estate fraud. According to San Mateo County District Attorney Steve Wagstaffe , Khoury scammed three people out of over $800,000 between May 2006 and May 2012. 

A co-defendant, Cindy Teahan, worked at several escrow companies and said she knew Khoury on a business level. Teahan has been charged with six felonies, including three counts of falsifying documents.

Teahan said one of the victims was her 83 year-old mother-in-law, who Khoury allegedly convinced to turn over $202,000 she netted from selling her home and moving into senior housing.

Another man, 74 years old, gave Khoury $100,000 to invest after being told money was secured by a deed of trust, but according to DDA Wagstaffe, it wasn’t and Khoury allegedly used it to pay his credit card bills.

Andrew Khoury is being held at San Mateo County Jail in lieu of $1 million bail; Cindy Teahan is out on bail.

Read the original article in the San Jose Mercury News.

© Copyright 2007-2017 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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