San Bernardino DA Arrests 2, Seeks 3 Others In Alleged Cash Back Mortgage Fraud; Accused Of Using Stolen I.D. To Finance Purchase Of Two Homes

From the San Bernardino County, California District Attorney's Office:

• [I]nvestigators with San Bernardino County District Attorney’s Real Estate Fraud Unit arrested Michael Moon Park, 60, and his wife, Bu Yun Park, 60, of Helendale, on felony charges of identity theft, forgery, grand theft, money laundering, and conspiracy. Three additional suspects remain outstanding and are currently being sought. They are: Kenneth Sung Park, Jason S. Kim, and Duk Sung Jin.

• Jason Kim obtained a fictitious driver’s license in the name of the victim in order to steal the victim's identity and purchase two homes [...]. Michael Park, who is a licensed real estate agent, represented himself as the broker and his wife as the seller during the fraudulent transactions. After the homes were sold, proceeds were wired into the Parks’ bank account and then some of the proceeds were electronically transferred to another account in Vancouver, Canada. The homes subsequently went into foreclosure with the estimated loss of over 1.2 million dollars.

For the San Bernardino DA's press release, see Couple Arrested for ID Theft, Forgery, Grand Theft and Conspiracy.