Andrew Abed Khoury, 42, San Mateo County real estate broker, pleaded not guilty Friday in San Mateo County Superior Court to 36 counts of real estate fraud. According to San Mateo County District Attorney Steve Wagstaffe , Khoury scammed three people out of over $800,000 between May 2006 and May 2012.
A co-defendant, Cindy Teahan, worked at several escrow companies and said she knew Khoury on a business level. Teahan has been charged with six felonies, including three counts of falsifying documents.
Teahan said one of the victims was her 83 year-old mother-in-law, who Khoury allegedly convinced to turn over $202,000 she netted from selling her home and moving into senior housing.
Another man, 74 years old, gave Khoury $100,000 to invest after being told money was secured by a deed of trust, but according to DDA Wagstaffe, it wasn’t and Khoury allegedly used it to pay his credit card bills.
Andrew Khoury is being held at San Mateo County Jail in lieu of $1 million bail; Cindy Teahan is out on bail.
Read the original article in the San Jose Mercury News.