California Loan Coordinator Admits Lying To Grand Jury In Federal Fraud Probe
- An Alameda County man pleaded guilty Monday to lying to a federal grand jury that is investigating subprime mortgage fraud in San Joaquin County, prosecutors said. John Ngo, 27, of Dublin, a former senior loan coordinator for Long Beach Mortgage Co., admitted receiving payments from the company's sales representatives to get loan applications approved despite knowing that many of the applications were fraudulent, said the office of U.S. Attorney McGregor Scott in Sacramento.
Ngo was nailed amid a federal probe into Stockton's Iftikhar Ahmad, who is currently under indictment for allegedly illegally flipped houses in the Stockton area. For more, see:
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