California Real Estate Fraud Report

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06
Nov

Two women plead guilty to conning victims in phony real estate investment scheme

Loan Thituong Nguyen, 46, of Westminster and Lynn Eichenberger, 45, of Chatsworth, have accepted deals from Orange County Superior Court Judge Kazuharu Makino.

According to Deputy District Attorney Pete Pierce, sentencing is scheduled for February 19 so that probation officers can prepare their findings on the women and to find out if they have paid any restitution. Nguyen has paid $150,000 and her insurance company has paid $300,000 but Eichenberger has made no payments. Given that they were accused of cheating their victims out of $3,000,000 that’s not much restitution.

The two ran a scheme in which Lynn Eichenberger recruited investors to give her and Nguyen money to purchase foreclosed properties, none of which ever occurred. Loan Thituong Nguyen was a licensed real estate broker who managed Suncoast Mortgage Corp. and Suncoast Investment Realty. She surrendered her license in 2013; documents surrounding the investigation of her activities can be found on the California Bureau of Real Estate website.

Read the original article in the Northridge-Chatsworth Patch.

 

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