Duy Khac Nguyen, 34, Garden Grove, has been charged with 37 felony counts of grand theft, five felony counts of theft from elder, including a sentencing enhancement for property loss over $65,000. The charges involve 42 alleged victims and $92,000 of their money in a loan modification fraud case.
The scheme Nguyen is alleged to have run operated only between February and July 2010. His loan modification company was called HAMP Resources, which he is accused of claiming falsely of having an association with the federal government’s HAMP program. Instead of offering loan modification services, prosecutors allege that Nguyen deposited the money from homeowners into his personal bank account and then moving out of the area.
He was apprehended by the Riverside County Sheriff’s Department with assistance from the Garden Grove Police Department after United States Postal Inspection Service (USPIS) received complaints. USPIS along with the Special Inspector General for the Troubled Asset Relief Program (SIG-TARP) conducted the investigation.
“Nguyen is charged on 42 counts with swindling struggling homeowners, including the elderly, by falsely claiming that his company ‘HAMP Resources’ was part of the federal government,” said Christy Romero, Special Inspector General for SIGTARP. “He allegedly sold a money-backed guaranteed service to lower homeowners’ mortgage payments and interest rates under TARP’s housing program known as HAMP. He is alleged to have taken the money from his victims, without providing any service, then disconnecting his phone and shutting down his mailbox, website, and bank account while some of his victims lost their homes to foreclosure. SIGTARP and our law enforcement partners will aggressively investigate allegations of crime related to TARP.”
“Loan modification scams are proliferating at a rapid pace,” said B. Bernard Ferguson, Inspector in Charge of the USPIS – Los Angeles Division. “The U.S. Postal Inspection Service is continuing to investigate and will pursue such criminal activity when the nation’s mail system is used for illegal or dangerous use.”
Senior Deputy District Attorney Pete Pierce of the Orange County District Attorney’s Major Fraud Unit is prosecuting this case.
Read the Press Release for this case.