Tuesday, July 01, 2014

Duy Nguyen, Garden Grove man to be arraigned for fraudulent loan modification scheme.

Duy Nguyen, Garden Grove man to be arraigned for fraudulent loan modification scheme.

Posted by CotoBlogzz

Rancho Santa Margarita, CA - Duy Nguyen, man is scheduled to be arraigned today for defrauding 42 victims of over $92,000 by operating a fraudulent loan modification company, according to the Orange County District Attorney's (OCDA) office.

Duy Khac Nguyen, 34, Garden Grove, is charged with 37 felony counts of grand theft, five felony counts of theft from elder, with a sentencing enhancement for property loss over $65,000.  He is being held on $90,000 and must prove the money is from a legal and legitimate source before posting bond. Nguyen is scheduled to be arraigned this morning.

Between February and July 2010, Nguyen is accused of owning and operating a fraudulent loan modification company called HAMP Resources in Garden Grove. He is accused of falsely claiming to be affiliated with the federal government's Home Affordable Modification Program (HAMP) and obtaining a business license from the City of Garden Grove. The defendant's business and the federal government's HAMP are not affiliated in any way.

Nguyen is accused of promising loan modifications to victims and guaranteeing a refund of their money if they were not eligible. He is accused of advertising the business through local television advertisements in Hawaii and in various states through mail flyers and his website.

Nguyen is accused of collecting over $92,000 from 42 victims, who deposited checks to a HAMP Resources business account.  He is accused of failing to provide any loan modification services or refunds for the victims. Nguyen is accused of withdrawing the money from the company bank account and depositing it in his personal accounts. He is accused of closing the Garden Grove business, shutting down the website, and moving out of Orange County.

In April 2010, the United States Postal Inspection Service (USPIS) received complaints from victims addressed to Nguyen that had been mailed to his former Garden Grove office.

USPIS and the Special Inspector General for the Troubled Asset Relief Program investigated this case. On June 12, 2014, Nguyen was arrested in Garden Grove by the Riverside County Sheriff's Department with assistance from the Garden Grove Police Department.

The Orange County District Attorney's Office, SIGTARP, and USPIS believes there may be additional victims in this case. Anyone with additional information or who believes they have been a victim is encouraged to call Supervising District Attorney Investigator Andy Terhorst at (714) 347-8691.

Senior Deputy District Attorney Pete Pierce of the Major Fraud Unit is prosecuting this case.

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