Trusting Loan Thituong Nguyen and Lynn Eichenberger proved traumatic for 17 Vietnamese Americans. These victims were allegedly cheated by the two women in $2 million real estate investment fraud scheme.
The women worked the scheme in two ways, according to prosecutors. In one plan Nguyen solicited the people by stating she had opportunities for property investments. These properties were said to be in foreclosure and the victims were assured of getting great prices. In order to ensure that they would get these homes for themselves she induced them to pay up 50% of the cost of the home and put it into escrow. The money was eventually transferred from Nguyen’s escrow account into a business account set up by her partner in crime – Eichenberger. The fraudulent part of this scheme was the fact that neither of them had any financial or legal right to sell such property.
Plan 2 of the accused fraudsters consisted of Nguyen approaching already-in-distress property owners who were facing foreclosure. She then enticed them with a plan which involved them paying her half vigrx info the balance owed on the mortgage and promising them all help to refinance their loan payment and get them a lower loan payment as well. Again, the victims put the money into escrow and later on the funds got transferred to the business account.
When the victims questioned Nguyen about the progress on their case she told them that the deals had not gone through. Obviously they lost their money as well. The women were brought to book because several of the victims lodged complaints against them at the Westminster Police Department. With the help of the FBI’s Department of Real Estate, the women were apprehended.
For their alleged con, each of the women have been charged with 15 felony counts of grand theft, 2 felony counts of money laundering and 1 felony count of conspiracy to commit grand theft. Nguyen also faces charges of forgery and falsifying documents. She will face 24 years of jail time and Eichenberger will face 22 years of convicted. Currently, the women are being held on $2 million bail each.