Tony Huy Havens, a Modesto store owner, pleaded guilty to federal wire and mail fraud charges in relation to two real estate schemes investigated by the FBI and the Stanislaus County District Attorney’s Office.
In the first case, Havens, 42, conned who were “desperate for financing to keep their projects from foreclosure,” according to his plead deal. He promised the 15 victims a total of $1.1 billion and collected over $240,000 by claiming he had ties to a wealthy investor in Hong Kong.
In a separate case dating back to 2006 scam, Havens bought homes in Stanislaus and San Joaquin counties and scammed lenders by reporting much higher sales prices, keeping the spread for himself. In one of those purchases, he used the names of his in-laws, who were unaware he had done so.
Havens’ sentencing is scheduled for for January 11, 2015.
Read the original article in the Modesto Bee.