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In the following press release To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. announced that on August 7, 2007, investigators from the District Attorney’s Office arrested Thien Chi Vuong, 31 and Thanh Tuyen Tran (aka Kim Tran), 30 both of San Jose on “No Bail” arrest warrants. The couple currently faces up to 12 years in prison on three felony counts including Conspiracy and Grand Theft, with aggravated white collar crime and excess taking enhancements; however, the investigation into additional victims and other alleged crimes is ongoing.
Between February and December May of 2006, the couple purchased 10 single family homes in San Jose with a combined value of over $8.5 million. During the transactions Vuong acted as Tran’s agent, while failing to disclose their marriage, and fraudulently verifying Tran’s rental history claiming to be her landlord. Tran qualified for the loans by fraudulently misrepresenting her employment, income, assets, and intent to occupy the residences. All the homes were purchased “no money down” and immediately rented out for less than the cost to service the loans. No payments were ever made on the loans and most properties are now the subject of foreclosure actions. The current charges involve only two of the ten properties, with additional charges likely as the investigation proceeds into the other transactions.
Throughout the period Vuong worked as an agent for Century 21 Su Casa Realty. In recent months Century 21 has cancelled Su Casa’s franchise rights, Su Casa has filed for bankruptcy, and the Department of Real Estate has filed to revoke the broker’s license of Su Casa’s owner Bic Pho. The Santa Clara District Attorney’s Office is actively investigating numerous other complaints involving agents from Su Casa and its affiliate Mariposa Mortgage.
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