California Real Estate Fraud Report

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20
Feb

6 indicted on charges of mortgage fraud to buy marijuana houses

In an entrepreneurial twist, a mortgage broker and five other Fresno and San Francisco Bay area residents have been indicted for financing their residential marijuana farming operation by committing mortgage fraud.

Mortgage broker Monique Le Nguyen of Milpitas is the mortgage broker. She was ordered by U.S. Magistrate Judge Sandra Snyder in Fresno to remain in jail pending trial after the judge described the case as “extremely serious”.

Also charged are Andy Lieng and Jenny Chi-Ha for being involved in a marijuana conspiracy and cultivating the crop, which they did at two homes in Fresno and Tony Lieng, Lynn Truong and Shirley Wong.

The scheme was only discovered after firefighters responded to a blaze they determined was caused by a diversion of electricity to one of the homes. Once on the scene, they discovered the house had close to 900 plants growing. The second house had even more plants being cultivated; together, the crop value was worth than $2 million on the streets.

Read the full article in the Central Valley Business Times.

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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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