Translate this page

Sheriff's deputies arrest Lake Elsinore man in connection with home loan scam

Saturday, June 14th, 2014
Issue 24, Volume 18.

Lake Elsinore man accused of perpetrating a home loan modification scam targeting distressed property owners in California and Hawaii was being held today in lieu of $250,000 bail.

Duy Khac Nguyen, 34, was arrested on Thursday following a years-long investigation conducted by the Riverside County Sheriff's Department, Honolulu police, the U.S. Postal Service and the U.S. Secret Service.

Nguyen is charged with 15 counts of grand theft and one misdemeanor count of petty theft. He's being held at the Southwest Detention Center in Murrieta.

According to sheriff's investigators, Nguyen in 2010 and 2011 operated a business called First Universal Solutions, which purported to provide assistance to homeowners upside-down on their mortgages, seeking to avoid foreclosure by refinancing or taking advantage of the federal Home Affordability Mortgage Program.

The defendant and another man, identified as Patt Wattanachinda, allegedly telephoned Advertisement
Advertisement for Carrington Home Loans
[ Carrington Home Loans ]
up to 20 people, most of them in Hawaii but at least one in Northern California, offering to help the victims obtain home loan modifications.

According to an arrest warrant affidavit filed by sheriff's Investigator Rich Holder, the alleged scam artists convinced the property owners to write them checks in varying amounts -- as high as $4,800 -- to arrange for government assistance. But none was ever forthcoming; Nguyen and Wattanachinda allegedly pocketed the funds, according to Holder.

The total estimated loss to the victims was $61,000, according to the investigator.

Sheriff's personnel, Honolulu police and federal agents initiated an investigation that took nearly three years, culminating in charges being filed against the two defendants last month.

Wattanachinda's whereabouts were not immediately known.

Nguyen is tentatively slated to be arraigned Monday at the Southwest Justice Center.



arrow Be the first to share your opinion on this article!

Add your Comment


Images, Formatting, or HTML is not allowed : plain text only. You may post up to 5 website addresses within your comment.


The Valley News has tightened its' policy regarding comments.
While we invite you to contribute your opinions and thoughts, we request that you refrain from using vulgar or obscene words and post only comments that directly pertain to the specific topic of the story or article.
Comments that are derogatory in nature have a high likelihood for editing or non-approval if they carry the possibility of being libelous.
The comment system is not intended as a forum for individuals or groups to air personal grievances against other individuals or groups.
Please, no advertising or trolling.
In posting a comment for consideration, users understand that their posts may be edited as necessary to meet system parameters, or the post may not be approved at all. By submitting a comment, you agree to all the rules and guidelines described here.
Most comments are approved or disregarded within one business day.

RSS FeedFacebookTwitter

Advertisement for Wayne Guglielmo


Most Commented

Reach Local Customers

The Valley News The Valley News
760-723-7319 - 1588 S. Mission Rd. Suite 200, Fallbrook CA 92028
All contents copyright ©2015
About Us
Earthquake Information
Business Listings
Contact Us
Letter to the Editor
Report a website error
Online Digital Edition
RSS Feeds