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Multi-Million Dollar Mortgage Scam Lands Modesto Man in Prison
Tony Huy Havens, 42, a Modesto resident, has been sentenced to three years and five months in prison for his role in two mortgage fraud schemes, announced United States Attorney Benjamin B. Wagner.
Havens pleaded guilty to committing mail fraud and wire fraud in the two schemes, which were charged in separate criminal cases. He was sentenced by United States District Judge Lawrence J. O’Neill.
According to the indictment in the first scheme, Havens devised an “advance fee” scam that targeted victims in at least eight states who were seeking multi-million dollar loans for large construction projects that were in danger of foreclosure.
Havens provided the victims with fraudulent documents that showed a third-party lender was prepared to make a loan to the victim. On Havens’ instructions, the victims wire-transferred money into a bank account controlled by Havens to pay in advance certain costs associated with the loans. No loans were ever made.
In total, Havens represented that he could arrange at least $1.1 billion in financing for at least 15 victim borrowers, and collected at least $248,750 by wire transfers from these victim borrowers.
The second scheme involved Havens arranging to purchase a single family residence in Modesto using two relatives as straw buyers. He obtained a loan in the name of the straw buyers that exceeded the actual selling price of the property, and arranged to have a portion of the purchase price sent back to him, which he used as the down payment for the purchase.
Assistant United States Attorneys Mark J. McKeon and Mia Giacomazzi prosecuted the cases, which were the product of investigations by the Federal Bureau of Investigation, the Stanislaus County District Attorney’s Office, and the Federal Housing Financing Agency, Office of Inspector General.
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Key Facts
- State: California
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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