CA man received 41 months for mortgage fraud

John A. Bui, age 46 from San Jose was indicted on August 21 of 2009 to conspiracy to commit wire fraud, destroying records in a federal investigation and witness tampering by United States District Court Judge, Susan Ilston in San Francisco.

Mr. Bui was sentence on March 5th of this year to forty one months in federal prison and order to pay restitution in the amount of three million five hundred thousand dollars. Mr. Bui was also sentenced to three years of supervised release upon completion of his sentence and has been in custody since May of 2009.

The United States Attorney’s Office in California states that Mr. Bui admitted that between the years 2003 and 2006 he orchestrated a scheme to defraud lending institutions by submitting fraudulent mortgage application and supporting documents.

Mr. Bui routinely transmitted fraudulent mortgage applications that included fraudulent employment information as well as inflated appraisals. His staff compiled a vast network of people who would pose as employers to verify the employment when financial institutions called to verify the information.

Mr. Bui in his plea that he destroyed evidence after learning that the Federal Bureau of Investigation searched the San Francisco office of an associate and that he attempted to convince an individual to not cooperate with the Federal Bureau of Investigation Officers.

Mr. Bui has paid over four hundred sixty thousand dollars of the three million five hundred thousand dollars he has been ordered to pay.


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