California Real Estate Fraud Report

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31
Jul

Alameda County Real Estate Agent Arrested, Charged with Defrauding Couple

A long-time estate agent is in hot water with authorities for allegedly defrauding a couple out of $270,000 in a real estate fraud scheme.

Judy T. Gong, 53, was arrested and charged with two counts of grand theft by embezzlement, two counts of forgery, fraudulent filing of a tax return, failure to file a legitimate return, and perjury after a Lafayette couple filed a complaint with the Contra Costa District Attorney’s Office. After conducting their initial investigation the DA’s office contacted the state Franchise Tax Board, which initiated its own investigation.

Gong is accused of twice convincing the couple to take out a home equity line of credit (HELOC), from which she then allegedly siphoned the funds after forging their names on bank documents.

 The Franchise Tax Board’s investigation found that Gong underreported her income by over $500,000 in 2008 and failed to report $418,000 of bank deposits in 2009.

Contra Costa District Attorney Mark A. Peterson was quoted in his office’s press release as saying, “This office will prosecute anyone who robs victims of their hard-earned money in a real estate fraud scheme. Swindlers and con-artists will not be tolerated and will continue to be prosecuted to the fullest extent of the law.”

Read the original article in the Mercury News.

 

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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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