An Orange County real estate broker, Kathy Chen, was convicted of 136 felony counts, including one count of conspiracy, 47 counts of grand theft, 37 counts of forgery, 15 counts of identity theft and three counts of filing false tax returns.
Chen committed $17.5 million worth of real estate and mortgage fraud. She obtained personal and credit information of borrowers without their knowledge or consent, mainly targeting elderly, first generation immigrants with little to no income. Chen would then fill out loan applications to reflect higher incomes for the fake buyers and forge signatures on notarized deeds and loan documents. Chen then purposely defaulted on payments to steal the loan fees.
She had been facing a maximum penalty of 111 years in prison. However, in late October, Chen was sentenced to 68 years in California state prison.
If you, or someone you know has been charged with Mortgage Fraud, Real Estate Fraud, Tax Fraud, Conspiracy, Grand Theft, Forgery or Identity Theft, then you should consult with Los Angeles Criminal Defense Attorney Robert M. Bernstein for a free consultation today. Don't hesitate to
contact our law firm today.