An Orange County man and woman were charged in what prosecutors called a $2.2 million identity theft scheme involving fraudulent home equity loans, authorities announced Tuesday.
Thao Thi Kim Nguyen, a 47-year-old from Garden Grove, and Nghiep Chinh Nguyen, a 55-year-old from Westminster, have pleaded not guilty to conspiracy to commit bank fraud and wire fraud and multiple counts — varying by defendant — of bank fraud and aggravated identity theft, the U.S. Justice Department said in a news release.
The defendants were arraigned on Monday, July 31, and a trial is set for Sept. 26.
If convicted, the defendants could face of 30 years in federal prison for each conspiracy and fraud charge and two years for each aggravated identity theft charge.
An indictment against the defendants alleges that for four months in 2018, Thao Nguyen and Nghiep Nguyen allegedly stole homeowners’ identities and convinced banks into “cashing out” mortgages on those properties.
Prosecutors said that as part of the scheme, Thao Nguyen would visit two banks where she had accounts, accompanied by Nghiep Nguyen and other co-schemers. Nghiep Nguyen and other co-schemers posed as the victim homeowners – whose identities the defendants allegedly had stolen – and forged the victims’ signatures to fraudulently obtain cash-out mortgages on the victim-owned properties, which otherwise were unencumbered, the prosecutors said.
Nghiep Nguyen allegedly used counterfeit California driver’s licenses and Social Security cards containing the victims’ names, and forged the victims’ signatures on documents, including bank and mortgage forms as well as deeds for the victims’ real estate properties, prosecutors said.
In at least one case, Thao Nguyen told bank personnel that the victims were her parents, according to the indictment.
The scheme, targeting mainly Vietnamese Americans, generated proceeds of about $2.182 million, they added.
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