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Wednesday, 20 October 2010

Calif. broker gets 68 years for real estate fraud - BusinessWeek

Calif. broker gets 68 years for real estate fraud - BusinessWeek: "Orange County, Calif., real estate broker has been sentenced to 68 years in prison for using stolen identities to buy 35 properties and intentionally defaulting on the loans to steal more than $17 million.
Kathy Chen received the sentence Monday in a courtroom in Westminster.
The 49-year-old Chen was found guilty in May of 136 felony counts including conspiracy, grand theft and forgery.
Prosecutors said Chen conspired with her 60-year-old boyfriend Richard Salgado Gonzalez and his 57-year-old brother Daniel Gonzalez to commit $17.5 million in real estate fraud from 2005 to 2007."

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